Euro Sterling Exchange Rate Update

Euro Sterling Exchange Rate  : October 25th  2017 11am

1 GBP = 1.1259 EUR
1 EUR = 0.8881 GBP

See Latest  Exchange Rates Here

During most of  September we saw a gradual recovery in the value of the Pound against the Euro. This recovery was helped when  the Bank of England hinted they were considering raising interest rates.
Brexit progress – or the lack of it , is keeping Sterling lower.
he Pound lost ground this week   after the EU’s Michel Barnier intimated that a trade deal could take up to three years to negotiate.
The prospects of a Bank of England interest rate rise might help strengthen Sterling – but the latest comments from Bank of England (BoE) Deputy Governor Jon Cunliffe seem to hint that a rate increase in November might not happen.

Back in July a  Euro was worth  just £0.8453 GBP.  Today , the Sterling to Euro exchange rate is closer to  £0.89 GBP .

In August  , 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.

 

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 in a prolonged period of rate 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 currency exchange for large amounts –  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

 

euro sterling exchange rate ireland

6 thoughts on “Euro Sterling Exchange Rate Update

  1. The scaremongering comments from the likes of Goldman Sachs saying that Sterling could fall by up to 20% against the Euro if Britain votes to leave the EU, are very misleading and incorrect. On the contrary – if the UK leaves the EU, it will lead ultimately to the EU collapsing without the UKs payments of £350 million a week and as other countries also start to leave the union. This will have dire effect on the value of the euro currency, it will more like 2 euro to the £ by then. Countries will return to their old currencies when the EU collapses, eg Lira etc. In Ireland’s case when it returns to the punt, it is likely to be devalued by at least 20% compared to the current Euro value. People will queuing like mad to get their money out of the euro banks, there will be a run on the euro for sure. These commentators have not considered this scenerio. Therefore if one is waiting to change their £ into Euros for Irish use it would be best to wait until ther collapse of the EU. The £ sterling by then will be a reserve currency against the former EU countries currencies. If however the UK does not vote to leave the EU, then the £ will still rise some as the uncertainty will have vanished. Either way, if you can afford to, waiting until after the referendum is over is the best idea. If you really need to exchange £ to Euros now, take a punt…. No pun intended!

    If you want £ from euro, buy some while the euro is still sorth something…

  2. I cannot see sterling keeping its current value with the euro after brexit.This is going to be all about the export market .The bottom line is Britian’s home market has a population of 65 million people compared to Europ’s 500 + million.If Britain are to find alternative markets they are going to have to go be much further afield than Europe, thus i curring greater costs.

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