THE pound lost at least a fifth of its value against nine significant currencies last year.
Research by Lloyds Private Banking into 60 currencies found the biggest declines in sterling were against the Brazilian real, with a 28.4per cent fall, the Russian rouble, with a 28 per cent slide, and the Icelandic krona, with a 27.9 per cent fall.
Last year's declines, followed a stronger year for the pound in 2015, when sterling gained against more than three-quarters of the currencies surveyed by Lloyds. Across 2016, the pound fell against 56 of the 60 currencies it analysed.
The pound did make significant gains against two currencies last year, Lloyds said. These were the Egyptian pound, against which sterling rose by 105.8 per cent, and the Mozambique metical, against which the pound increased by 23 per cent.
Lloyds said the performance of sterling in the six months before and the six months after June's Brexit vote followed a similar pattern.
Sterling declined in value against 54 out of the 60 currencies analysed in the six months leading up to the EU referendum, and fell in the six months after the referendum against 51 countries.
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