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.
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 2018.
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.
EUR to GBP: Historical rate chart
Updated: 12 Dec 2018 15:29:43 UTC
Compare today’s rates from providers who can send EUR to GBP
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.
Frequently asked questions
The UK triggered Article 50 of the Lisbon Treaty in March 2017, which means the UK is scheduled to leave the EU by the end of March 2019. However, if all 28 EU members agree, the leave date can be extended.
Hundreds of economic indicators can affect the euro, but the five we’ve highlighted — prices and inflation, confidence and sentiment, monetary policy, economic growth and balance of payments — are the most influential.
No, the euro is the world’s second most traded currency after the US dollar.
Currency pairs detail the value of one currency relative to another. As a wide range of factors can affect the worth of a currency, keeping track of currency pairs allows you to buy and sell on the foreign exchange market at the right time.
TorFX guarantees to match any competitor's exchange rate. Conditions apply. Send money overseas in over 30 currencies. Once registered, you'll be assigned an account manager who can provide support and guidance.
Use code FINDER20 for $20 credit towards your next transfer*. Conditions apply. Send 60+ currencies at competitive rates with $0 transfer fees for Finder customers. WorldFirst will beat any eligible quote from another provider. *Offer valid for one-time use and only applies to transfers of AUD$10,000 or more.
How likely would you be to recommend finder to a friend or colleague?
Very UnlikelyExtremely Likely
Thank you for your feedback.
Our goal is to create the best possible product, and your thoughts, ideas and suggestions play a major role in helping us identify opportunities to improve.
Important information about this website
finder.com.au is one of Australia's leading comparison websites. We compare from a wide set of major banks, insurers and product issuers.
finder.com.au has access to track details from the product issuers listed on our sites. Although we provide information on the products offered by a wide range of issuers, we don't cover every available product. You should consider whether the products featured on our site are appropriate for your needs and seek independent advice if you have any questions.
Products marked as 'Promoted' or "Advertisement" are prominently displayed either as a result of a commercial advertising arrangement or to highlight a particular product, provider or feature. Finder may receive remuneration from the Provider if you click on the related link, purchase or enquire about the product. Finder's decision to show a 'promoted' product is neither a recommendation that the product is appropriate for you nor an indication that the product is the best in its category. We encourage you to use the tools and information we provide to compare your options and find the best option for you.
The identification of a group of products, as 'Top' or 'Best' is a reflection of user preferences based on current website data. On a regular basis, analytics drive the creation of a list of popular products. Where these products are grouped, they appear in no particular order.
Where our site links to particular products or displays 'Go to site' buttons, we may receive a commission, referral fee or payment.
We try to take an open and transparent approach and provide a broad based comparison service. However, you should be aware that while we are an independently owned service, our comparison service does not include all providers or all products available in the market.
Some product issuers may provide products or offer services through multiple brands, associated companies or different labelling arrangements. This can make it difficult for consumers to compare alternatives or identify the companies behind the products. However, we aim to provide information to enable consumers to understand these issues.
Providing or obtaining an estimated insurance quote through us does not guarantee you can get the insurance. Acceptance by insurance companies is based on things like occupation, health and lifestyle. By providing you with the ability to apply for a credit card or loan we are not guaranteeing that your application will be approved. Your application for credit products is subject to the Provider's terms and conditions as well as their application and lending criteria.