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 0.9% between November and December 2017, following a rise of 0.4% between October and November. This is the SERI’s fourth successive monthly rise. Compared with the same period a year ago, it is 0.1% higher. It is 25.8% below its January 2007 peak level.
On average in December compared with November, the pound was up 1.4% against the dollar, and up 8.5% from December 2016. This was the fourth successive month the year on year increase has been positive. The value of the pound against the dollar has fallen sharply since the EU Referendum, from $1.48 on 23 June 2016 to $1.35 on 3 January 2018.
Sterling was up 0.6% against the Euro on average in December compared to November. On 3 January 2018, the Euro was valued at €1.12 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