Backing for Scottish pound from unlikely source


The South China Morning Post reports that the case for Scottish independence has received a boost from an unlikely source.

In a week when currency has been high on the agenda of the independence debate, money changers in Hong Kong have been offering a separate and more favourable rate of exchange for Scottish pound notes than the English countrpart.

Mega Foreign Exchange offered HK$11.50 for a Scottish pound but only HK$11.30 for an English pound.  A spokesman for the company, which has three outlets in Hong Kong confirmed that they offered a separate rate for Scottish pound notes and that they intend to continue doing so.

The Sheraton Hotel in Tsim Sha Tsui also lists the Scottish pound separately but offers the same rate as that for the English pound.

An SNP spokesperson welcomed the news saying:

“Perhaps Mega Foreign Exchange’s difference in exchange rate is a recognition that the latest figures showed that Scotland’s economy is out-performing the UK as a whole.

“The strength of the Scottish economy and our export performance underlines the significant contribution that Scotland makes to the strength of Sterling, and why continuing a Sterling area after a ‘Yes’ vote in September 2014, and Scotland becoming independent, would be in the interests of both Scotland and the UK.”