Euro Sterling Exchange Rate Update

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

 

euro sterling exchange rate ireland

5 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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