The pound hit record lows against the euro on Friday for a fifth day running as concerns grow over the outlook for Britain's economy.
In early London trade, the pound dropped to 1.12 euros -- the lowest level since the creation of the European single currency in 1999. The pound last week dropped below 1.15 euros for the first time.
On Friday, one euro was worth a record high of almost 90 pence.
The pound has been tumbling against the euro and dollar in recent months as Britain stands on the brink of recession.
In a bid to avert a prolonged period of negative economic growth, the Bank of England recently slashed interest rates to 2.0 percent their lowest level since 1951.
Source: uk.news.yahoo.com
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