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Sterling hits historic low against euro

The British pound hit a historic low against the euro.

world Updated: Dec 04, 2008 15:09 IST

The British pound hit a historic low against the euro on Thursday as the Bank of England was expected to slash its key interest rate later in the day.

One pound was worth 1.1526 euros in early London trade, which was the lowest exchange rate since the creation of the European single currency in 1999.