Currencies  

Pound rises against other monarchical countries in Charles's reign

Pound rises against other monarchical countries in Charles's reign
  Coronation celebrations saw a bump in the value of Sterling. (Fotoware)

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.

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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