Euro / pound exchange rate

Last activity 01 August 2019 by claxnes

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JohncarSpain expert31 July 2019 11:20:36

1412

I had occasion to check how the pound to euro rate has changed since 1st January 2002 when the euro currency, in our pocket, was introduced.

On that day it was 1.60 euros to the pound, a few days later it was at its highest ever at 1.64. It is today 1.09. All blamed on Brexit !

The day before the referendum result it was 1.30. So it it had lost 0.34 by 15th June 2016. So brexit not to blame.

Since Brexit has lost 0.21

In July 2009 the rate was 1.06, to the £, and that was long before any idea of the dreaded B word. It recovered from that, so what says it will not do the same again ?

NB The rates I have quoted are of course the inter-bank rate, not tourists rates.

lewislucy27Member31 July 2019 11:29:00

I heard today it's £1 = 0.85 centimos !.

costabravamarkMember31 July 2019 14:16:47

It is likely that the pound / euro rate will remain under pressure until the end of October 2019 at the earliest.
And if Brexit happens without a deal, it will almost certainly lose considerably more ground for several months and quite possibly a lot longer.
If there is a deal which the markets consider to be favourable to the U.K., it is likely to strengthen somewhat. But the heady days of 1.50 - 1.60 euros to the pound are long gone.

claxnesContributor01 August 2019 05:09:54

182

Well, Trump pressured and got the Fed in the US to lower the interest rate to drive up the EUR/ USD ratio, and yesterday it responded in the opposite, falling below the 1.11 mark, which was the lowest it has been for a year!

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