Find the best exchange rate when converting your euros to British pounds
Whether you’re a forex investor or simply looking to trade euros for pounds, get the most for your money with a strong exchange rate.
Today's mid-market rate
Use the table below to find out today's exchange rate when trading euros for British pounds. This can help you make your decision when you look into the exchange rates that transfer providers are offering.
|1 USD =||1.0000||1.4186 Inverse: 0.7049||1.3469 Inverse: 0.7425||0.8962 Inverse: 1.1158||6.7356 Inverse: 0.1485||0.7741 Inverse: 1.2919||69.8956 Inverse: 0.0143||18.9965 Inverse: 0.0526||52.0610 Inverse: 0.0192|
|1 AUD =||0.7049 Inverse: 1.4186||1.0000||0.9495 Inverse: 1.0532||0.6318 Inverse: 1.5828||4.7482 Inverse: 0.2106||0.5457 Inverse: 1.8326||49.2722 Inverse: 0.0203||13.3914 Inverse: 0.0747||36.6999 Inverse: 0.0272|
|1 EUR =||1.1158 Inverse: 0.8962||1.5828 Inverse: 0.6318||1.5028 Inverse: 0.6654||1.0000||7.5153 Inverse: 0.1331||0.8637 Inverse: 1.1579||77.9870 Inverse: 0.0128||21.1956 Inverse: 0.0472||58.0878 Inverse: 0.0172|
|1 GBP =||1.2919 Inverse: 0.7741||1.8326 Inverse: 0.5457||1.7400 Inverse: 0.5747||1.1579 Inverse: 0.8637||8.7017 Inverse: 0.1149||1.0000||90.2982 Inverse: 0.0111||24.5416 Inverse: 0.0407||67.2577 Inverse: 0.0149|
How does the euro trade against the British pound historically?
On 1 January 1999, the euro was introduced in 11 states of the European Union (EU) as a “single currency” – or a currency used by all members of an economic federation. At the time of its debut, the euro was at a rate of 1.42 euros to one pound. Despite being an EU member state, the UK chose not to replace its country’s currency with the euro.
In the first three years after its introduction, the euro was used only for bank transfers, online transactions and traveller's cheques. But this all changed in January 2002 when euro notes and coins were introduced in the now 12 participating countries, with Greece also opting to use the euro as its official currency.
From 1999 to 2007, the euro held a stable value average of 0.6 against the pound. However, in late 2008 the euro became caught up in the European sovereign debt crisis, which led to an increase of 0.70 pounds to one euro by the end of that year.
What is the European sovereign debt crisis?
The European debt crisis began when the peripheral eurozone member states of Greece, Spain, Ireland, Portugal and Cyprus found themselves unable to repay their government debt due to slowing economies and rising interest rates, among other economic issues. Its effects are still being felt in 2019.
In an attempt to stabilise the euro, the European Financial Stability Facility was created to address the crisis. Rates improved as a result, reaching 0.93 GBP to 1 EUR by 31 October 2009.
The effects of “Brexit” on currency exchange
Since Brexit — or Britain’s proposed exit from the European Union — in June 2016, the GBP has declined against several currencies. For the euro, Brexit could potentially mean that it gains against the pound. We saw the euro jump from 0.79008 against the pound in June 2016, shortly after the Brexit referendum, to 0.841735 in July 2016. Since July 2016, the euro has remained stable at around 0.8 to the pound.
Using historical data to forecast the EUR > GBP exchange rate
The past can be a good indicator of the future. The socio-political atmosphere, interest and inflation rates, foreign trade, public debt and export-to-import price ratios all influence exchange rates.
Check out the graph below to see how the euro has traded against the British pound historically.
Compare today’s rates from providers who can send EUR to GBP
The "Rate" and "Amount Received" displayed are indicative rates that have been supplied by each brand or gathered by Finder.
Exchange rates are volatile and change often. As a result, the exchange rate listed on Finder may vary to the actual exchange rate quoted for the brand. Please confirm the actual exchange rate and mention "Finder" before you commit to a brand.
What affects EUR > GBP exchange rates?
In general, five factors affect how the euro trades against the British pound.
Prices and inflation
Inflation affects all currencies, including the euro. A country with high levels of inflation relative to other countries will typically see its currency depreciate so that the prices of goods between countries remain equal. In the eurozone — or the group of nations that trade in the euro — inflation is measured by the Consumer Price Index (CPI), which calculates the price of a selection of goods that an average household is likely to purchase.
Confidence and sentiment
By looking at confidence and sentiment reports, you can also gauge economic conditions in countries that trade in the euro. A popular sentiment report to follow is the German ZEW Survey, prepared each month by the Centre for European Economic Research.
All currency is affected by monetary policies, which are constructed by currencies respective to a country’s central bank. For the euro, that’s the European Central Bank. Monetary policies include interest rates that significantly affect the euro.
The growth and health of the eurozone significantly influence the euro, measured by the gross domestic product. For the eurozone, the GDP is a periodic measure of the value of the total goods and services produced in the area. For all currencies, including the euro, growth in GDP is a sign that the economy is strong and healthy.
Balance of payments
The balance of payments is like a country’s accounting record of interactions with the rest of the world. It’s made up of three accounts, but only the current account affects exchange rates. This account reveals how much a country is exporting and importing, as well as the flow of income and transfer payments.
Did you know?
The EUR/GBP currency pair is often referred to by forex traders as trading the “chunnel”.
When transferring money internationally, do your research to ensure your money goes further in an exchange. With Brexit and other current events, the British economy is shaky, which could mean a better deal when converting your euros to pounds.