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 1.4% between March and April, following a rise of 0.2% between February and March. This is the SERI’s eighth successive monthly rise. Compared with the same period a year ago, it is 2.5% higher. It is 23.9% below its January 2007 peak level.
On average in April compared with March, the pound was up 0.8% against the dollar, and up 11.3% from April 2017. This was the eighth successive month the year on year increase has been positive. The pound fell sharply against the dollar following the EU referendum, from $1.48 on 23 June 216 to $1.14 in June 2017 – a thirty-one year low. In recent months, the value of the pound against the dollar has reached $1.43, the highest level since the EU referendum.
Sterling was up 1.3% against the Euro on average in April compared to March. On 1 May 2018, 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