Pound Sterling (GBP) How does government borrowing work? How does government borrowing work, and how and when is the money paid back? Business FTSE 100 closes at record high The stock index closes at a high as global inflation and interest rate fears ease. Business Pound hits post-Truss high as dollar weakens Sterling has reached its highest level against the US dollar since mid-August. Business Pound rises after delay to economic plan The currency has rallied against the dollar in recent days, and rose further on Wednesday. Business Pound hits highest level since before mini-budget It comes as investors welcomed the appointment of Rishi Sunak and the dollar fell. Business Five ways a falling pound could affect you The pound has fallen against the dollar as the UK's financial and political turmoil continues. Business Pound rises as Liz Truss announces resignation Sterling initially rose sharply to $1.13 as investors reacted to the news of the prime minister's departure. Business Pound rises as chancellor moves to calm markets Government borrowing costs fall and sterling climbs as most of the mini-budget tax measures are reversed. Business Government borrowing costs rise after PM's U-turn Borrowing costs climbed as some economists questioned whether the corporation tax U-turn went far enough. Business