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 0.8% between December 2017 and January 2018, following a rise of 0.9% between November and December. This is the SERI’s fifth successive monthly rise. Compared with the same period a year ago, it is 2.6% higher. It is 25.2% below its January 2007 peak level.
On average in January compared with December, the pound was up 3.2% against the dollar, and up 1.4% from January 2017. This was the fifth successive month the year on year increase has been positive. On 25 January 2018, the value of the pound against the dollar reached $1.43, the highest level since the EU referendum.
Sterling was up 0.01% against the Euro on average in January compared to December. On 8 February 2018, the Euro was valued at €1.14 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