The value of the British Pound

jumperabv3

This is just terrible, getting paid in pounds nowadays is not what it used to be 4 months ago.

Why did you do it? Was it really worth it to vote for Brexit?

anotheruser

The problem is us taking our time getting out.

The sooner we're out, the sooner we'll be able to show the world we can survive without the EU.

I'm not saying we should rush, but we're not exactly making it a priority right now, like it should be.

PeacefulWaters

jumperabv3 wrote: »

This is just terrible, getting paid in pounds nowadays is not what it used to be 4 months ago.

Why did you do it? Was it really worth it to vote for Brexit?

In the short term those GBP are buying me much the same as the used to in the UK.

British exporters are loving it.

SA96

We're a net importer by some margin so the benefit for exporters is negligible in the grand scheme of things.

CLAPTON

SA96 wrote: »

We're a net importer by some margin so the benefit for exporters is negligible in the grand scheme of things.

indeed we are

ALL the textbooks say that you can't buck the market long term.
If you import more than you export your currency will eventually decline. We have borrowed a lot to maintain our consumption and sold off massive amounts of our industry and business (idiots call it inward investment and welcome it).

The decline in sterling was inevitable : it would have been better happening 4-5 years ago but better later than further delay.

CLAPTON

SA96 wrote: »

We're a net importer by some margin so the benefit for exporters is negligible in the grand scheme of things.

not so : a lower pound will discourage imports and encourage exports and so the balance of trade deficit will be closed

Over62

The pound is at its lowest against the euro for about 5 years. That means that 5 years ago, it was even worse. Has everyone forgotten when one pound got you only about 1.01 euros?

PeacefulWaters

SA96 wrote: »

We're a net importer by some margin so the benefit for exporters is negligible in the grand scheme of things.

The benefits for exporters are significant.

jumperabv3

Over62 wrote: »

The pound is at its lowest against the euro for about 5 years. That means that 5 years ago, it was even worse. Has everyone forgotten when one pound got you only about 1.01 euros?

Try comparing the pound to other currencies such as the US Dollar (1.23 !!!!!!!!! I would have added more exclamation points!!!!!)

Used to be on "normal" level of 6 Shekels against the ILS, it's now 4.68 !!

It's now only 17 ZAR and used to be 23 ZAR just a few months ago.

It's definitely not in normal levels now ... it's sinking like a ship without a captain.


And speaking of doing it quickly - I don't ever recall Europeans doing something fast and this is the core problem not only of the EUR but of the GBP as well....

The EUR should have disappeared 4-5 years ago - the fact the EU is trying to revive this zombie currency is just hurting so many people (and mainly the middle class) ... nevertheless I don't think the UK should have fired the first bullet with this Brexit ... should have let Greece or other poor country to finally break the Euro .... it would now be "expedited" but in terms of expediting things we're talking about several years ... this is how "fast" Europe moves ... the financial crisis in Asia in 1997 wasn't as bad the one with Europe.

takman

Over62 wrote: »

The pound is at its lowest against the euro for about 5 years. That means that 5 years ago, it was even worse. Has everyone forgotten when one pound got you only about 1.01 euros?

That's because the Euro has declined aswell. If you really want to see how damaging the Brexit vote to the currency is then you need to compare it to the dollar.

GingerFurball_2

Over62 wrote: »

The pound is at its lowest against the euro for about 5 years. That means that 5 years ago, it was even worse. Has everyone forgotten when one pound got you only about 1.01 euros?

I went to Rome for New Year in 2008 and my exchange rate was less than 1:1.