Duration 2’19” As predicted by many economic commentators in the run-up to the Brexit referendum, the British decision to leave the EU has resulted in the collapse of sterling against other currencies.
Bad for Irish exporters, yes. And perhaps, ultimately, for the Irish economy. However, as the euro strengthens against sterling, there are opportunities for bargains for Irish consumers.
On certain websites, like Asos:
“You can choose to pay online in sterling. Do that, and allow your bank to make the conversion on your Visa card.”
Sinead Ryan, consumer journalist, outlined some of this upside on Today Which Sean O’Rourke this morning.
“Sterling is a very strong currency, it will remain so, it will level out. But for now, there is an opportunity to get a bargain.”
Sinead also has some tips on buying flights, holidays, and cross-border shopping.
However, it’s not all good news.
Because of the international nature of banking and finance, the drop in sterling may have negative implications for some Irish pensions. And Brexit will also have implications for Irish people who want to avail of healthcare in Northern Ireland and mainland Britain.
To hear Sinead’s full range of post-Brexit financial advice, click here for the full interview