Euro Sterling Exchange Rate Update

Euro Sterling Exchange Rate  : May 23rd 2017 10am

GBP = 1.15 EUR

1 EUR = 0.87 GBP

See Latest  Exchange Rates Here

Over the course of the past week Sterling has dropped against the Euro by over 2% . To put this sort of move into monetary terms, purchasing €300,000 on Monday last week would today cost over £5,000 more

Three weeks ago a  EURO was worth  £0.8453 GBP.  Today , the Sterling to Euro exchange rate was  close to  £0.87
The Euro has also been helped by  France’s newly elected President Emmanuel Macron appointing his Prime Minister, Edouard Philippe. Philippe is a centre-right Republican and not from Macron’s new Centrist party. Macron’s choice is seen as an attempt to draw in key figures from both the left and right of French politics.

The upcoming UK elections could well see some volatility  for the Pound . With Merkel aiming to strengthen the euro in the near future and strenuous Brexit talks weighing heavily on the pound, could we soon see GBP/EUR below the lows we saw in October last year?

Over the past several months Brexit has cast a cloud of uncertainty over the currency markets. If you think that the last 9 months were volatile for the currency markets, brace yourself, as the next 2 years are likely to be even more so.

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

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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