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Brexit weakens zloty

The UK has voted to leave EU and this has immediate effects on exchange rates.

According to BBC the referendum in the UK ended up with 52% for leave and 48% to stay. In terms of votes the difference was roughly 1,3 million votes, England and Wales were the biggest supporters for Brexit while London, Scotland and Northern Ireland wanted to stay in the Union.  

Markets have been reacting to possible Brexit already the past weeks, but since this morning exchange rates have been in turmoil. The value of pound dropped to its weakest agains USD since 1985. According to estimates puond could loose as much as 20% of its pre-brexit value.

Interestingly the Polish zloty is also weakening. The PLN/EUR rate jumped alreay in the morning up to 4,5 but seems to be settling around 4,45 towards the end of the day. Similarly zloty is weakening against USD.


24.06.16


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