The country is supposed to hold municipal elections every six years, but cash-strapped authorities last held a local ballot in 2016
The pound plunged against the dollar Friday on the sacking of finance minister Kwasi Kwarteng in response to a budget that sparked markets chaos.
Sterling sank 1.2 per cent to $1.1188 after Prime Minister Liz Truss dismissed the chancellor of the exchequer.
The yield on the 10-year UK government bond dipped to 3.98 per cent. It had hit 4.64 percent Tuesday amid uncertainty over Kwarteng's future.
"Truss is attempting to restore credibility in her administration by firing Kwarteng amid the market mayhem," said Interactive Investor analyst Victoria Scholar.
His unnamed successor will be Britain's fourth finance minister in as many months after Rishi Sunak resigned and his successor Nadhim Zahawi was not retained by Truss.
She edged out Sunak in the battle to succeed Boris Johnson as prime minister.
The pound had rallied Thursday on speculation over more U-turns over Kwarteng's controversial tax-slashing budget.
In the immediate aftermath of the budget in late September, sterling hit a record dollar-low close to parity.
Bond yields have meanwhile spiked since the budget -- that included a costly energy price freeze -- on fears of eye-watering levels of state debt.
The country is supposed to hold municipal elections every six years, but cash-strapped authorities last held a local ballot in 2016
French president says Europe must support firms in AI, green energy
Leaders, former leaders and diplomats meet the former US president and Republican presidential candidate
iCademy Middle East to offer courses with the ability to transfer credits
The historic season opener will feature fighters from the Featherweight and Bantamweight divisions
Under a trial scheme, visitors exploring the city for the day have to buy ticket, with inspectors carrying out spot checks at key entry points
Life Pharmacy’s flagship outlet at Al Wasl has crossed a benchmark of serving over five million customers
This event aims to honour and showcase the remarkable achievements of women and provide an inspiring platform for empowerment and growth