Pound sterling sharply reduces

Baku. 29 March. REPORT.AZ/ The British Prime Minister Theresa May has today signed a letter which will trigger Article 50 and begin Britain’s process of leaving the EU.

Report informs citing the Bloomberg, after signing the letter Britih pound sterling fell by 1.8% against US dollar and made 1.2620 USD/GBP.

It was noted that, Sir Tim Barrow, the UK’s permanent representative in Brussels, is to personally hand over a letter from the British government to the European council president, Donald Tusk.

Analytical Group of Report believes, pound sterling will further decrease to the level of 1,22 USD/GBP. In cash currency market of Azerbaijan selling rate of pound is expected to decrease to 2.10 AZN/GBP.