Euro Sterling Exchange Rate Today
November 26th 2020 16:00
Pound to Euro Exchange rate today is at €1.1201
Euro to Sterling Exchange rate today is at £0.8928
|€1 EUR||is worth||£0.8928 GBP|
|£1 GBP||is worth||€1.1201 EUR|
|€10,000 EUR||is worth||£8928 GBP|
|£10,000 GBP||is worth||€12010 EUR|
The Pound Euro (GBP/EUR) exchange rate is inching lower for a third consecutive day . With the UK economy expected to contract -11.3% in 2020 and UK public sector borrowing to hit £400 billion.This will be the largest budget deficit in peacetime ever in the UK.
The Euro was supported by news that France is easing lockdown restrictions.
The Pound has been gradually rising against the Euro since September – but as Brexit deadlines get closer it looks like the two sides still have plenty to sort out.
Dominic Bunning, Head of European FX Research at HSBC this week said that should the UK fail to reach a Brexit trade agreement with the EU, the Pound could well fall to parity with the Euro.
Even if a Brexit trade deal is agreed – HSBC do not see a good future for Sterling because of the greater costs of doing business and the effects of Covid on the economy. They say that value of the Pound must decline in value to entice international investors to divert capital into the UK.
HSBC forecast that the Pound-to-Euro exchange rate will be €1.11 by year-end 2020. By mid-2021 they forecast a fall in Sterling to €1.09.
An alternative view is held by Dr Savvas Savouri, Chief Economist at Toscafund Asset Management – who is forecasting the pound to rise as high as €1.30 in the event of a Brexit deal
Currency fluctuations can make it a nerve-wracking time for anyone planning to exchange large amounts of Sterling or Euro in the next few months.
Using a Currency Exchange company can remove some of the uncertainty. Crucially, they
Get a Quote For A Currency Transfer
You can get a quick quote for currency transfer at the Fexco Website . Setting up an account costs nothing and once you are registered you can arrange money transfers or talk about securing an exchange rate for a future transaction. Fexco is based in Ireland and authorised as a payment services provider by the Central Bank of Ireland. In the UK, Fexco is regulated by the Financial Conduct Authority.
For more information on how to exchange large amounts of currency – see our article explaining How To Get the Best Exchange Rates.
You might also be interested in this information about Transferring Money between Ireland and the UK
If you are looking at when is the best time to buy Sterling in cash for a trip to the UK – then take a look at this page. The Best Places to Buy Sterling in Ireland