The fall in the value of the pound is damaging the budgets of UK university libraries. Costs of subscriptions to foreign research journals from Europe and the United States have risen due to changes in the exchange rate. Since July 2008, the value of the pound has fallen by about 25% against the US dollar and the euro. The increased cost is a problem because libraries at large institutions typically spend 75% of their acquisition budgets on journals. (www.knowledgespeak.com, 05 Jan 2009, “Weak pound hurting journal subscriptions in UK, say associations”)
Thanks to Emma Campbell