£ hits a record low against the NOK

[Freyr]

The pound has decreased by 2,5 % from february to march against the Norwegian krone. The sharpest drop since 1992. It is for the first time since 1996 below 10 NOK. I am not an economist, but I get that this might not be good news for Norwegian buisnesses exporting to the UK. But the bigger picture is perhaps that there might be something wrong with the UK economy.?. The US$ is also very low...Does anyone know more about this?

[Styumpie]

There is something very wrong with the UK economy, Our economy is based on ever increasing debt, from credit cards, student loans, personal loans, overdrafts, mortgages, government debt and the big one.... Mortgage Equity withdrawal based on ever increasing house prices, countless billions into our economy each year creating spending power, giving us this huge boom we all see and take for granted now. Well, the time has come, credit is drying up, house prices are falling, inflation is rampant and more signs of interest rate cuts, the Pound is going to take a hammering over these next few years. Best to invest in anything not linked to £ sterling

[Medziotojas]

Just before Christmas the pound was valued at around 5 LTL (Lithuanian Litas). I see today that it is down to 4.286, and falling on a daily basis.

 

Unfortunately, the falling pound cost me very dearly when I was buying property earlier this year. If the transaction had taken any longer to go through then I would not have been able to finalize the deal.

 

With other European countries' currencies being pegged to the Euro, Britain will see a downturn in people from abroad seeking work. If I was, for example, to go and work in Ireland, Germany or France; then at least I know my income would be stable when converted to litas. As far as the pound is concerned, another month may see another 20 cents or more knocked off the value.

 

On a lighter note, I intend to bring my family over to Shetland for a holiday later this summer, and the more the pound falls, the more lolly I'll have for my litas!

 

From what I've read on the Net, the forecast for the pound, at least in the near future, doesn't look too rosy. Anybody planning a holiday in Europe this summer may have to fork out a bit more than they intended. Still, there's always the States for a cheap holiday destination, and Britain may soon follow suit.

[Medziotojas]

http://www.independent.co.uk/news/business/news/pound-sinks-to-record-low-against-the-euro-1017940.html

 

The pound has fallen 25 per cent against the dollar and 15 per cent versus the euro this year. It has, you might say, had a bit of a pounding.

 

 

 

Not long now until £1 = €1.

 

I see today it's down to 4 LTL (Lithuanian Litas).