Local economy boosted by fall in value of the Euro

Local economy boosted by fall in value of the Euro

The local economy has received a pre-Christmas boost after the Euro fell to a 20-month low today following the announcement from Italian prime minister Matteo Renzi that he would resign following a crushing defeat on constitutional reform.

While the figure of a 20-month low is against the dollar, the value of €1 is now down to 84p – a fall from recent weeks when the value had been as high as 93p in the wake of this summer’s Brexit result.

What this means is that it is less attractive than it was in recent weeks to head north of the border to shop, which should prove a welcome boost to Dundalk retailers hoping to avail of people’s pre-Christmas spend.

Categories: Business, Local news

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