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Exchange rates: Key Economic Indicators

Published Tuesday, September 5, 2017

Exchange rates: Data on the value of the pound relative to other major international currencies.

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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 fell by 1.9% between July and August 2017, following a fall of 0.1% between June and July. This is the SERI’s second lowest figure in its 25 year history. Compared with the same period a year ago, it is 3.4% lower. It is 28.4% below its January 2007 peak level.

On average in August compared with July, the pound was down 0.3% against the dollar. The value of the pound against the dollar has fallen sharply since the EU Referendum, from $1.48 on 23 June 2016 to $1.30 on 4 September 2017.

Sterling was down 2.7% against the Euro on average in August compared to July. On 4 September, the Euro was valued at €1.09 per £1, its lowest level since October 2009. 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

Topics: Economic policy, Economic situation, World economy

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