Euro Sterling Exchange Rate : September 18th 2017 11am
1 GBP = 1.135 EUR
1 EUR = 0.88 GBP
See Latest Exchange Rates Here
In the first three weeks of September we have seen a gradual recovery in the value of the Pound against the Euro. This recovery sped up on Thursday 15th when the Bank of England’s Marc Carney said that the Bank of England was considering raising interest rates. The Pound hit a a two-month high against the Euro on Friday 15th.
Four months ago a Euro was worth just £0.8453 GBP. Today , the Sterling to Euro exchange rate is closer to £0.88 GBP .
The euro’s recent rise against sterling illustrates the diverging economic fortunes of Britain and the eurozone since the Brexit vote. While the Eurozone prospers – growth in Q2 exceeded expectations and ran at an annualised rate of 2.2% – the UK’s currency is weak, growth is subdued and virtually all risks to the economic outlook are to the downside.
Last month , US investment bank , Morgan Stanley , predicted Euro/ Sterling parity in 2018 – with the possibillity of the Euro being worth more than the Pound at some stage in early 2018.
This week HSBC Bank have upgraded their forecast for the British Pound. Their previous forecast of a Sterling-Euro parity in late 2017 made the bank the most pessimistic in the institutional community where the median forecast is €1.12 to the POund for year-end 2017.
With so much uncertainty in the currency markets at the moment – it could get very stressful for people or businesses planning large Euro / Sterling exchanges in the next few months. We are likely to be entering a period of heightened volatility which, depending on your timescales and budget, could cause problems if you are not properly prepared.
Using a Currency Exchange specialist can remove some of the uncertainty by allowing you to fix an exchange rate as much as 12 months in advance of your transfer. For good deals on large amounts of currency exchange – for personal money or for businesses – see our page on how to get the Best Exchange Rates
You might also be interested in this information about Transferring Money from Ireland to a UK Bank
If you are just looking to buy some Pounds , Dollars or other foreign cash for a holiday – take a look at our page about the best place to buy travel currency in Ireland