France leapfrogs UK to become world's fifth largest economy
Sterling falls against euro, leads to GDP projections of 2.172trn euros for Britain
Updated : 10:28
The United Kingdom has dropped a place in the ranking of the world's largest economies, being overtaken by France for fifth place, according to Reuters.
Political and economic uncertainty has followed Britain's decision to leave the European Union following last month's referendum, with the pound falling to its lowest value in 31 years on Wednesday.
Normally Gross Domestic Product (GDP) is calculated over a year using eschange rates, but if the current rate is used then France's GDP of 2.182trn euros would leapfrog that of Britain's (2.172trn euros).
The UK has occupied the fifth position in the world's largest GDPs since 2014, after having fallen lower due to the global financial crisis in 2008.
Shares in British companies have been volatile since the results of the referendum, with Wednesday's trading proving to be quite a hammering.
Property stocks were sliding significantly after various major property outfits suspended their trading due to withdrawals of investor funds.