DERRY shops are reaping the rewards of the EU Brexit vote as Donegal shoppers flock cross the border for an exchange rate bargain.
Since June’s leave vote, Sterling has plummeted making it rich pickings for those living in the Republic.
€1 is now worth around 89p Sterling although in recent weeks the Euro was worth as much as 93p.
Road traffic date suggests that recently there has been a surge in Saturday morning shoppers travelling into the North from Donegal.
The figures show that since the vote, south-to-north traffic flows from 10:00-11:00 on Saturday are up from 3% year-on-year before the vote to 29% year-on-year.
The border-crossing data was gathered by Ireland’s National Roads Authority.
The largest increase in the opposite direction is 6 pm and 7 pm on a Sunday, which analysis from Goodbody Stockbrokers suggested possibly reflected a return from a weekend spent in the North.
While the overall impact on consumer spending in the Republic would be relatively modest, “the economic impact on border counties could be significant”, said Goodbody Chief Economist Dermot O’Leary.
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