Euro Sterling Exchange Rate Update

Euro Sterling Exchange Rate  : February 5th 2018 9am

1 GBP = 1.131612 EUR
1 EUR = 0.883695 GBP

See the Latest  Exchange Rates Here


The Euro is stronger against most major currencies today , including Sterling, with the exchange rate set at €1.13. The Euro rallied due to German Chancellor Angela Merkel engaging in the last round of talks to form a coalition government.
The Pound has weakened on the news that the UK’s Services sector, which accounts for about 80% of the UK economy, has slowed to the lowest level of growth since September 2016.

Sterling did not perform too well in 2017 – at its lowest point the Pound went to just €1.08 – down from €1.31 in the month before the Brexit referendum in 2016

During 2017, the Euro/Sterling exchange rate pivoted around  5% either side of  €1.14 .  At the end of 2017 a Pound was worth €1.1263  . During the first 4  weeks of  of 2018  we have seen slight increases in the strength of Sterling – rising to almost €1.15 towards the end of January.

The ongoing uncertainty over Brexit will continue to  affect Sterling and we expect more volatility for the pound throughout the next stages of Britain’s negotiations with the EU.  If we do see some movement in trade talks there is possibility that Sterling might get back to last year’s April high of €1.20 . Any setbacka could see the Pound fall again.

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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