High-value euro spenders boost Derry trade

Derry's Foyleside shopping centre is bustling with euro trade but a Buncrana councillor says Inishowen remains competitive too.

Derry’s Foyleside shopping centre is bustling with euro trade but a Buncrana councillor says Inishowen remains competitive too.

But Inishowen businesses are competitive too, says councillor

DERRY TRADERS have enjoyed a bumper 20 per cent increase in trade thanks to shoppers from Inishowen and Donegal availing of the weak sterling.

Last week saw the pound plummet, taking another step towards parity with the euro.

On Monday one euro was worth just over 90p.

The British currency tumbled the most last week since it voted to leave the European Union in June, hitting a three-year low against the euro and 31 year low against the dollar.

Sinead McLaughlin, chief executive of Derry’s Chamber of Commerce said while the retail sector across the border is enjoying the upturn in euro spenders ‘the currency situation is very volatile’.

She told the Inishowen Independent: “The currency is very volatile at the moment, each day it is seeing the sterling drop further.

“Obviously the retail sector  is having an upturn of euro spenders, it’s quite busy.”

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Donna Roddy