Business opts for dollars
UK exporters last year opted to invoice in US dollars, rejecting the pound and the euro as trading currencies.
According to research by Customs & Excise around 60% of the country’s imports and 50% of exports were invoiced in foreign currencies.
Of those the largest proportion, 29%, were made out for dollars.
Other eurozone currencies accounted for 21%, and around only 7% were in euros.
The figures are bound to provide UK anti-euro campaginers with ammunition to continue their fight against joining the single currency.
Other observers will quickly point out that the real impact of the new currency will not be known until it goes live in the New Year.