Black Wednesday

Black Wednesday occurred on 16 September 1992 when the UK Government was forced to withdraw the pound sterling from the European Exchange Rate Mechanism (ERM), after a failed attempt to keep the pound above the lower currency exchange limit required for the ERM participation. At that time, the United Kingdom held the Presidency of the Council of the European Union.


Black Wednesday occurred on 16 September 1992 when the UK Government was forced to withdraw the pound sterling from the European Exchange Rate Mechanism (ERM), after a failed attempt to keep the pound above the lower currency exchange limit required for the ERM participation. At that time, the United Kingdom held the Presidency of the Council of the European Union.
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