House of Commons Library

Exchange rates: Key Economic Indicators

Published Monday, August 5, 2019

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 2.6% between June and July, following a fall of 1.7% between May and June. Compared with the same period a year ago, it is 1.4% lower. It is 27.9% below its January 2007 peak level.

On average in July compared with June, the pound fell by 1.7% against the dollar, following a fall of 1.3% between May and June. 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, reaching $1.21 in August 2019, its lowest level since March 2017.

Sterling was down 1.0% against the Euro on average in July compared to June. On 2 August 2019, the Euro was valued at €1.09 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

Topics: Economic policy, Economic situation, World economy

Share this page

Stay up to date

  • Subscribe to RSS feed Subscribe to Email alerts Commons Briefing papers

House of Commons Library

The House of Commons Library provides research, analysis and information services for MPs and their staff.