The pound sterling is counting at the highest level since the Brexit referendum against a basket of major currencies, reaching 86.4 points in the Bank of England's effective exchange rate, the BBC reported today.
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05/11/2026
by
Lusa
pound sterling
A sterling pound is counting at the highest level since the Brexit referendum against a basket of major currencies, reaching 86.4 points in the Bank of England's effective exchange rate, the BBC reported today.
The central bank indicator, which measures the value of the pound against 18 of the main international currencies, has been the highest since the consultation on the departure of the United Kingdom from the European Union (EU), according to data from the Bank of England to which the public broadcaster had early access and are cited by the EFE.
The price of the pound dropped considerably after the referendum of 23 June 2016 and again fell sharply during the EU exit process, the covid-19 pandemic and the financial market crisis caused by the ‘mini-budget’ presented in September 2022 by the then government of conservative Prime Minister Liz Truss.
Some analysts attribute the recent strength of the British currency to greater political stability, consistent economic growth in the country and the approximation of London to Brussels, according to the BBC.
A stronger pound can help curb inflation by making imported products cheaper and increasing British purchasing power when travelling abroad.
At 6:50 a.m. in Lisbon, the pound was quoted at 1,3491 dollars and 1,1977 euros, according to market data collected by the ‘Financial Times’ economic journal.
Around 11:15, the pound would be changed to 1.3459 dollars and 1.1987 euros.
Currency developments coincide with a crucial day for British monetary policy, as the Bank of England will announce today at 12:00 the decision on interest rates.
Analysts expect the Bank of England to raise the main reference rate from 3.75% to 4%, which will be the first increase since August 2023.