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The British pound fell, on Friday, to its lowest level in nearly 4 decades, abandoning the level of $ 1.1, in light of a package of measures announced by the government to combat inflation, which raised investor concerns about the state of British public finances.
In the face of a dollar that benefits from the resilience of the American economy and its being a haven currency, the pound fell 3.5% to $1,086, a level it has not reached since 1985 when it recorded $1,052. This is the first time that the sterling has fallen below the level of 4 dirhams, and the UAE dirham benefits from the exchange rate peg with the US dollar. The collapse of the pound, on Friday, overshadowed the decline of the euro, which lost 1.27% of its value against the dollar and became equal to 0.9711, its lowest level ever.
