17:59 GMT +322 September 2019
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    A computer screen shows the day's ongoing exchange rate between yen and the British pound, top, at a foreign exchange brokerage at a securities firm in Tokyo, Friday, June 24, 2016

    Pound Drops to 31-Year Low Continuing Post-Brexit Depreciation Rally

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    The British pound hit the lowest level since 1985 reaching $1.28 on Tuesday.

    MOSCOW (Sputnik) — The British pound hit the lowest level since 1985 reaching $1.28 on Tuesday and continuing its depreciation launched by the United Kingdom's voters decision to leave the European Union.

    ​The pound lost some 15 percent of its value after the referendum on June 23, when the national currency was trading at $1.50. Traders pessimism was aggravated on Tuesday after the Bank of England said that the current outlook for the country's financial stability was challenging.

    According to the final results of the referendum, 51.9 percent of voters, or 17.4 million people, decided to support Brexit, while about 16.1 million opposed it.

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    European Union, pound, Brexit, United Kingdom
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