The pound slumped to its weakest level

The pound slumped to its weakest level

Following the UK’s exit from the European Union (EU), Ghana’s cedi has suffered a marginal loss against the Pounds Sterling.

According to Ghana’s interbank foreign exchange market the value of the cedi slightly plunged by 1.04%

The cedi by Friday morning traded at GHC5.78 (buying) and GHC5.79 (selling) on the interbank foreign exchange market where the banks trade.

On the other hand the global financial market’s  reaction to Britain's vote to leave the European Union (EU) has seen the pound plummet by 10%, the highest since 1985 while oil fell to 47% a barrel.

Stock markets from Tokyo to London collapsed on Friday following the vote. The Euro dropped to 1.10% against the dollar as compared to 1.13% on Thursday.

READ ALSO: Brexit wins! Shock, confusion as UK votes to leave EU

Also the Brexit development saw Britain’s stock market for blue chip companies, the FTSE 100 has  dropped 8.3pc, Friday morning, wiping away £137 billion from UK blue chip stocks within minutes of markets opening this morning after Britain voted out of the EU.

Among the biggest losers are banks and mortgage companies led by Taylor Wimpey who have lost 42pc in share price already.

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