FRR 2016 ANNUAL REPORT14

2016 also saw sterling plummet as a direct result of the Brexit vote. Between 23 June and 31 December 2016, the pound fell by 17% against the dollar and 10% versus the euro.

Euro/dollar exchange rate since 31 December 2010

Real effective exchange rate base 100 on 31 December 2010

1.00

1.05

1.10

1.15

1.20

1.25

1.30

1.35

1.40

1.45

1.50

2010 2011 2012 2013 2014 2015 2016

Euro Dollar

85

90

95

100

105

110

115

120

125

2010 2011 2012 2013 2014 2015 2016

Source: Bloomberg.

Source: Bloomberg, Bank of International Settlements.