• Short Summary

    The British currency, sterling, slumped to an all-time low against the West German mark when it changed hands on the West German foreign exchange market in Frankfurt on Monday (8 March) at 4.99 marks.

  • Description

    The British currency, sterling, slumped to an all-time low against the West German mark when it changed hands on the West German foreign exchange market in Frankfurt on Monday (8 March) at 4.99 marks. This is the first time it has ever dropped below the five-mark level.

    The pound sterling, which had closed on Friday (5 March) at 5.095 marks, plunged lower as currency holders displayed what dealers described as a complete lack of buying interest. It had opened on Monday morning at around 5.030 marks.

    Also on Monday sterling plunged five cents against the United States dollar, following Friday's slide which took the British currency below two dollars for the first time ever. Dealers continued to unload sterling, which plummeted to 1.9295 dollars before picking up slightly with Bank of England help.

    The French franc was also under heavy pressure, falling to around 56.70 marks per hundred francs from Friday night's 57.04.

  • Tags

  • Data

    Film ID:
    VLVAAYAIJCAGOCEPCMZY1SXLUIAI9
    Media URN:
    VLVAAYAIJCAGOCEPCMZY1SXLUIAI9
    Group:
    Reuters - Source to be Verified
    Archive:
    Reuters
    Issue Date:
    08/03/1976
    Sound:
    Unknown
    HD Format:
    Available on request
    Stock:
    Colour
    Duration:
    00:01:34:00
    Time in/Out:
    /
    Canister:
    N/A

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