British pound slumps to 37-year low against U.S. dollar
- Economy
- Anadolu Agency
- Published Date: 10:42 | 23 September 2022
- Modified Date: 10:55 | 23 September 2022
The British pound slipped to 1.1187 against the U.S. dollar on Friday, its lowest level in 37 years.
The drop came a day after both the U.S. Federal Reserve and the Bank of England hiked interest rates by 75 and 50 basis points, respectively.
It marks the first time the GBP/USD rate has fallen below 1.12 since January 1985.
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