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Unprecedented fall of pound against dollar (2016-12-02)

Unprecedented fall of pound against dollar

According to news sources British pound value has fallen against American dollar to its minimum level since 35 years ago. The report predicts that this fall will have terrible consequences for UK economy. Specialists believe that one reason for this fall of pound against dollar is the exit of UK from EU. Although from UK exit proponents’ point of view this event has significant positive results, the fall in British national currency is one of its bad consequences.

Its consequences will cause serious damages to UK’s jobs and big companies and industries. Such repercussions include adjust staffing to control the chaos and eliminating some jobs and government lack of control to keep these jobs. On the other hand, in case of eliminating some jobs, government has to prepare different types of insurances especially unemployment insurance for people who have lost their jobs in these events; in the current situation it seems too hard for the government to control this. However, some specialists believe that this fall in pound is temporary and it soon starts to grow due to setting up the proper arrangements.

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