Sterling at 91p affects all firms and households

Ireland we know is very exposed to exchange rates, whether that be to the direction of the dollar or sterling.

The historically low exchange rate between of the euro against the dollar can be seen on Irish streets and country roads — American tourists are visiting in record numbers this year. But the low value of sterling against the euro is having the opposite effect in helping to keep away travellers from crossing the Irish Sea.

Major concerns were sparked following the Brexit referendum as to where exactly the euro exchange rate was heading against Ireland’s largest trading partner. Both industries and individuals are affected by foreign exchange rate movements. Importers, exporters, the tourism industry, and holidaymakers all notice when rates change significantly.