The pound has risen in value against two thirds of other monarch-led countries since King Charles ascended to the throne, analysis from No1 Currency has shown.
Since September 8 last year, sterling has risen the most against the Norwegian Krone, jumping 13 per cent.
The pound rose 10 per cent against the Canadian dollar in the period, as well as gaining 8.8 per cent on the Australian dollar, 8.6 per cent on the Jamaican dollar, 8 per cent on the East Caribbean dollar and 5.3 per cent against the New Zealand dollar.
In the Middle East, sterling gained 9.7 per cent against the Qatari Riyal between September and last week.
Change in value of sterling vs top 20 other ‘royal’ currencies since Charles became King
Rank | Currency | Ruling monarch | What a Pound bought on Charles’ accession | What a Pound buys today | % change |
1 | Norwegian Krone | King Harald V | 11.54 | 13.07 | 13.26% |
2 | Canadian Dollar | King Charles III | 1.51 | 1.67 | 10.60% |
3 | Qatari Riyal | Emir Tamim bin Hamad Al Thani | 4.12 | 4.52 | 9.71% |
4 | Bahraini Dinar | King Hamad bin Isa Al Khalifa | 0.43 | 0.47 | 9.30% |
5 | Omani Riyal | Sultan Haitham bin Tarik | 0.44 | 0.48 | 9.09% |
6 | Australian Dollar | King Charles III | 1.71 | 1.86 | 8.77% |
7 | Jamaican Dollar | King Charles III | 173.29 | 188.19 | 8.60% |
8 | East Caribbean Dollar | King Charles III | 3.11 | 3.36 | 8.04% |
9 | Saudi Riyal | King Salman | 4.32 | 4.66 | 7.87% |
10 | Tongan Pa'anga | King Tupou VI | 2.73 | 2.93 | 7.33% |
11 | Malaysian Ringgit | King Al-Sultan Abdullah Sultan Ahmad Shah | 5.19 | 5.48 | 5.59% |
12 | New Zealand Dollar | King Charles III | 1.90 | 2.00 | 5.26% |
13 | Swedish Krona | King Carl XVI Gustaf | 12.33 | 12.90 | 4.62% |
14 | Moroccan Dirham | King Mohammed VI | 12.47 | 12.65 | 1.44% |
15 | Thai Baht | King Maha Vajiralongkorn | 42.09 | 42.52 | 1.02% |
16 | Japanese Yen | Emperor Naruhito | 166.03 | 165.99 | -0.02% |
17= | Euro (Spain) | King Felipe VI | 1.15 | 1.14 | -0.87% |
17= | Euro (Belgium) | King Philippe | 1.15 | 1.14 | -0.87% |
17= | Euro (Netherlands) | King Willem-Alexander | 1.15 | 1.14 | -0.87% |
20 | Danish Krone | Queen Margrethe II | 8.57 | 8.47 | -1.17% |
Source: No1 Currency analysis of mid-market exchange rates
However, sterling lost just under one percent (0.87 per cent) against the Euro in the period.
Simon Phillips, managing director, No1 Currency, said: “As Britain crowns its first new monarch in 70 years, some of the excitement is clearly rubbing off on the Pound - with sterling rising in value against three quarters of the 20 best-known ‘royal’ currencies since King Charles ascended the throne.”
sally.hickey@ft.com
