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 fell by 1.1% in March 2017 compared with February 2017. Compared with the same period a year ago, it is 10.7% lower. In March the SERI was at its third lowest monthly level since the series began in January 1992 (the lowest was October 2016). It is 27.4% below its January 2007 peak level.
On average in March 2017 compared with February 2017, the pound was down 1.1% 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 $1.25 on 3 April 2017.
Sterling was down 1.6% against the Euro on average in March compared to February. On 3 April 2017, the Euro was valued at €1.17 per £1. This compares with an 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