The value of sterling against the dollar fell by more than 10% to $1.33 compared to $1.50 before the polling stations closed, while its value against the euro fell by 7%.
The value of the pound slumped to its lowest level for 30 years after the UK voted to leave the European Union.
The value of sterling against the dollar fell by more than 10% to $1.33 compared to $1.50 before the polling stations closed, while its value against the euro fell by 7%.
London Central Portfolio letting agents predicted Prime London benefiting from the falling value of sterling as investors flood into the capital.
However with the rest of the economy and employment being at risk a number of economists predicted the Bank of England cutting interest rates.
Earlier Mark Carney, governor of the Bank of England, said: “The Bank will not hesitate to take additional measures as required as those markets adjust and the UK economy moves forward.
“But we are well prepared for this. The Treasury and the Bank of England have engaged in extensive contingency planning and the Chancellor and I have been in close contact, including through the night and this morning.”
