https://www.bbc.co.uk/news/business-63009173The pound has fallen to a fresh 37-year low against the dollar as financial markets reacted to the biggest tax cutting moves in 50 years.
UK stocks also dropped after chancellor Kwasi Kwarteng outlined a series of tax cuts and economic measures in a massive shake-up of the country's finances.
The pound fell more than 3% against the dollar, dropping below $1.09.
Sterling has fallen recently over worries about the economy and partly due to a stronger US dollar.
The pound also fell more than 1% against the euro on Friday, dropping to €1.12.
Mr Kwarteng refused to comment on the dropping value of the currency, saying he "doesn't comment on market movements".
