The pound sterling lost a fifth of its value against nine major currencies last year, Lloyds Private Banking says in an analysis.
According to research the agency did into 60 currencies, the biggest declines in sterling were against the Brazilian real with a 28.4 percent drop, the Russian rouble with a 28 percent fall, and the Icelandic krona with a 27.9 percent decrease.
The declines in 2016 came after a stronger year for the pound in 2015 when sterling gained against over three-quarters of the currencies studied by Lloyds.
Throughout 2016, however, the pound declined against 56 of the 60 currencies it analyzed, only making important gains against two currencies.
The two currencies include the Egyptian pound, against which sterling went up by 105.8 percent, and the Mozambique metical, against which the pound had a 23-percent increase.
The UK pound also rose by 0.3 percent against the Turkish lira and remained stable against the Danish krone, the…