Exchange rates: Data on the value of the pound relative to other major international currencies.Jump to full report >>
The Sterling Exchange Rate Index (SERI) measures sterling’s value against a ‘basket’ of currencies, ‘trade‑weighted’ (based on currencies’ relative importance in UK trade).
The SERI increased by 0.2% between September and October 2017, following a rise of 2.1% between August and September. This is the SERI’s third successive monthly rise. Compared with the same period a year ago, it is 3.6% higher. It is 26.8% below its January 2007 peak level.
On average in October compared with September, the pound was down 1.0% against the dollar, and up 6.2% from September 2016. This was the second time the year on year increase has been positive since September 2014. The value of the pound against the dollar has fallen sharply since the EU Referendum, from $1.48 on 23 June 2016 to $1.31 on 3 November 2017.
Sterling was up 0.4% against the Euro on average in October compared to September. On 3 November, the Euro was valued at €1.13 per £1. This compares with a daily all‑time low of €1.02 (on 30 December 2008), and a launch rate of €1.48 on 31 December 1998.
Commons Briefing papers SN02811
Author: Matthew Ward