The pound is one of the worst-performing currencies in the world this year

Joe Vesey-Byrne
Tuesday 18 October 2016 11:00
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Picture:(ADRIAN DENNIS/AFP/Getty Images)

The extent of the pound's fall in value against the US dollar has been compared against other currencies. It doesn't look good.

In a chart compiled by Statista, the pound is shown to have performed worse than currencies like the Egyptian pound, the Argentine peso and only just better than the Nigerian naira.

The currency's value has decreased in part due to speculation that leaving the EU will not involve Britain staying inside the single market and that it will become subject to trade restrictions or tariffs.

Year-to-date the pound has been the second worst performing currency out of 30-plus tracked by Thomson Reuters Datastream.

Picture:(Statista)

The new currency bedfellows of Argentina and Nigeria, has possibly been caused by the selling off of cash holdings rather than an actual assets.

Tthe value of pound sterling against the dollar is at a 31-year low.

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