Euro / pound exchange rate

Johncar Spain Expert

1412POSTS

6 years ago

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

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

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

Since Brexit has lost聽 0.21

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

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

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lewislucy27 Member

15POSTS

6 years ago

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

costabravamark Member

17POSTS

6 years ago

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.聽 But the heady days of 1.50 - 1.60 euros to the pound are long gone.

claxnes Contributor

182POSTS

6 years ago

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!