PICS: Tyrone restaurant offers £1 for €1 exchange rate as value of sterling drops
The pound fell to a six-year low against the Euro earlier this week.
A restaurant in Tyrone has been offering a £1 for €1 exchange rate since earlier this month due to the weakening value of the sterling, the worst performing currency in the world this year.
Despite hitting a 12-day high against the euro on Wednesday, the value of sterling has dropped significantly this year, with uncertainty surrounding Brexit cited as one of the main factors behind the currency’s poor performance.
At the time of writing, £1 is currently worth just under €1.12, but it fell below €1.10 earlier this week, the first time it has done so since March 2010.
Inevitably, Irish consumers are likely to take advantage of the weak sterling by crossing the border into Northern Ireland to do their shopping and in Salley’s Bar and Restaurant in Aughnacloy in Tyrone, they’ve been offering a £1 = €1 exchange rate since 11 October.
As a result, visitors to the restaurant in Aughnacloy, located approximately a mile from the Tyrone/Monaghan border, can avail of offers such as two courses on the Early Bird menu for just €12 or a four-course Sunday lunch for €16.95.
The trend of Irish shoppers heading north of the border spells bad news for retailers, particularly those in border counties, coming up to one of the busiest shopping times of the year.