The British pound dropped to a record low yesterday against a basket of currencies measured by the Bank of England, it has been reported.
In a move which will have serious effects on supply chains across the country the pound slipped so low it was worth just €1.022 at the close of yesterday's (December 29th) trading.
An Independent report quoted Daragh Maher, currency strategist at the investment bank Calyon, as saying that the pound is just a hair's breadth from becoming even against the euro.
"Another day like today and we are pretty much there [at parity].
"We have had close to a two per cent move and with pretty thin liquidity this week there is every possibility that the trend extends."
The slipping pound will add a severe headache to supply chain managers across the UK as they battle with the increasing cost of importing goods.
Supply chain management companies can help a business reduce its exposure to such outside forces.
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