Most people are well aware of how the Argentine Peso is not having the best time of its long life so far. The currency is plagued by inflation, and holding Pesos is not the best course of action right now. But the British Pound is having an even worse time since the Brexit. In fact, the Pound Sterling is the world’s worst-performing currency as we speak.
Pound Sterling Drops Further
Albeit many people expected the Pound Sterling to lose some value due to the Brexit, the results are overwhelming so far. With a 12% decrease in value since January 1st, things aren’t looking all that great. Financial experts expect the Pound to drop even further in the coming weeks.
While this is positive news for international tourists looking to visit the UK, that is as far as the positive news goes. For the local economy, the Brexit is the worst possible outcome. Moreover, the interest rates on UK bank accounts will take a significant hit as well later this year.