As the results began to take shape overnight, the value of the pound nosedived in early morning trading by as much as 10% against the euro, hitting £0.83 at one point.

Find out how much dearer Irish farm products exported to the UK have become overnight for British buyers in our infograph below:

It has since come back to £0.81 against the single currency after the Bank of England (BoE) announced it would make £250bn in additional funds available to calm markets. Further attempts at sterling defence similar to this are to be expected from the BoE in the days and weeks ahead.

The value of sterling against the US dollar tumbled as much as 12% at one point, highlighting the significant volatility being experienced in financial markets this morning.

Stock markets slump

The UK stock market is tanking this morning as markets digest the news. In a massive sell-off, the FTSE 100 in London slumped as much as 8% in early morning trade, wiping more than £120bn in value off the stock market.

In Ireland, the ISEQ Index is down 9% as traders here react negatively to the news. Shares in Kerry, Glanbia and a whole host of Irish listed companies are down.

Full coverage: Brexit

Sterling plummets as markets react to Brexit

The pound sterling has plummeted in early trading this Friday morning as it became clear that the UK had voted to leave the European Union.