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