The victory of Brexit on Friday, June 24, 2016, with 52 percent of Britons voting to exit the European Union, is still recording woes in the stock market. And the value of the sterling is also falling lower than Friday’s.
This morning ( Monday, June 27, 2016), the pound hit a 31 year low with a 12 percent fall against the dollar, exchanging for $1.32. The pound is also at a two year low against the euro, exchanging for €1.2017.
The shares of Barclays Bank and RBS were temporarily suspended after witnessing a bloodied nose. While Barclays lost 10.3 percent of its value, RBS shed 15 percent. RBS has lost £10 billion of its market value since Thursday when the referendum with 35 million voters held.
Over $2 trillion have been eroded from global value of stocks.