British pound slumps to 37-year low against US

24 November 2024

British pound slumps to 37-year low against US dollar

12:49 23 September 2022 Read: 577

British pound slumps to 37-year low against US dollar

The British pound slipped to 1.1187 against the US dollar on Friday, its lowest level in 37 years, AzVision.az reports citing Anadolu Agency.

The drop came a day after both the US Federal Reserve and the Bank of England hiked interest rates by 75 and 50 basis points, respectively.

It marks the first time the GBP/USD rate has fallen below 1.12 since January 1985.

More about: GBP USD

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