Euro Sterling Exchange Rate Update

Euro Sterling Exchange Rate Update : March 13th 2017 9am

1 EUR = 0.8736 GBP        

1 GBP = 1.144 EUR

See Latest  Exchange Rates Here

The Pound fell to an 8 week low against the Euro last Friday after the ECB hinted at a possible interest rate rise .
Today, Sterling’s still weak as the Brexit bill returns to the House of Commons where it’s expected that the amendments added in the House of Lords last week will be removed. If the bill is ready, PM May is likely to trigger Article 50 on Tuesday.

Back in May 2016 the Pound was worth €1.31 but Sterling fell sharply in June 2016 after the decision of the UK to leave the EU. It went as low as €1.10 at one stage . During the latter half of July 2016  it was hovering around the €1.19  . This week GBP is hovering around the €1.14 mark .

Over the past several months Brexit has cast a cloud of uncertainty over the currency markets. This looks unlikely to change anytime soon. The invocation of article 50 will continue to weigh heavily on the pound, particularly if Mrs May continues to push forward with what is now being called a ‘hard Brexit’. However, also on the 15th March  the Dutch go to the polls  and it looks as though they might cause a real upset for the liberal order of Europe.  The French election at the end of April could also affect the Euro.

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 Broker 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

One thought 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…

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