Mubasher: The pound sterling is likely to lose 20% of its value if Britain leaves the European Union, HSBC bank said on Wednesday.

The bank added in a research note that the pound could fall by 15-20% against U.S. dollar in the event of Britain’s exit of the inion.

The lender expected 1.5% economic growth in Britain if they vote to leave the E.U.

UK will hold a referendum on 23 June to vote for its stay in the E.U.