Euro Sterling Exchange Rate : February 5th 2018 9am
1 GBP = 1.131612 EUR
1 EUR = 0.883695 GBP
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