People in Britain have voted in favour of quitting United Kingdom in the referendum just completed. Britain Prime Minister Cameroon has announced that he will step down since people’s mandate is against his wish to continue in United Kingdom. He in fact campaigned against leaving the EU, making an emotional speech a day before the referendum
Britain will have a new Prime Minister by October. Stock markets across the globe including Indian Markets have plunged to new lows with Brexit effect. England Pound is at all time low as much as 31-year low. Indian markets have also witnessed new lows, with Rupee also falling.
RBI had stepped in to save Rupee by in-fluxing Foreign exchange in to marker. Financial experts are fearing new low falls for stock market. However Finance Minister Arun Jaitley assured the nation that the country is braced to counter the short term and long term effects of Brexit.