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 rose by 1.3% between November and December, following a rise of 1.8% between October and November. Compared with the same period a year ago, it is 5.1% higher. It is 23.6% below its January 2007 peak level.
On average in December compared with November, the pound rose by 1.7% against the dollar, its fourth successive month-on-month rise. The pound fell sharply against the dollar following the EU referendum, from $1.48 on 23 June 2016 to $1.14 in June 2017 – a 31 year low. In 2018, the value of the pound against the dollar reached as high as $1.43 in mid-April (the highest since the EU referendum), though has fallen since; its highest rate in 2019 was $1.33.
Sterling was up 1.1% against the Euro on average in December compared to November. On 16 December 2019, the Euro was valued at €1.20 per £1, its highest rate since April 2017.
Commons Briefing papers SN02811
Author: Matthew Ward