News & Articles


Currency Solutions

Three-year UK trade deficit low

The recession is continuing to be a strain on the UK and has effectively weakened sterling exchange rates. The demand for foreign products has declined because of the weaker pound, as a result the UK trade deficit narrowed in May to the smallest in three years. The goods-trade gap was GBP6.3 billion, compared with GBP7.1 billion in April.

Imports fell 4% and exports declined 0.8% in May in support of the pound's 18% slide against the dollar in the past year. The slide is making British exports more competitive and encouraging companies to look away from imports.

The pound's downfall in the past year has its foreign exchange rates at USD1.6211 and EUR1.1592.

The rates quoted above are interbank rates. Client rates may vary according to the volume and timing of the trade.

Please note: All rates are subject to change, for the latest up-to-date rates check our Currency converter

Bookmark and Share

Contact Us

Currency Converter

Today's Currency News

Data just out indicated that construction activity in the UK expanded at a faster pace for August,...

Currency Rates

US Dollars 1.6471
Euros 1.2539
Swiss Francs 1.5139
Australian Dollars 1.7755
South African Rand 17.694
GBP indicative mid-market rate at 22:10. Please call for quote.