The pound to euro exchange rate is also known as (GBP/EUR)
For the live chart of the pound against the EUR, please see our live chart below:
1 =Real exchange rate
And select either euro (EUR) or pounds (GBP) from the drop down currency list.
so either Euros (EUR) or Pounds (GBP) leaving the amount box blank
Click on Convert and see the equivalent in the box with the corresponding interbank pound to euro exchange rate!
Your Best Exchange Rate
Firstly, GBP/EUR is a currency pair. The pound to euro exchange rate is impacted via a variety of different conditions. We can split this down into both political and economic drivers. If we look into the detail of the GBP/EUR rate, it is the price of one currency in relation to another. As the currency pair (GBP/EUR) moves one currency is gaining or losing strength against the other.
If the pound is strengthening against the euro, this means that the value of the pound is increasing relative to the euro. Therefore, you are getting more euros for every pound that you sell. If the pound is weakening against the euro then the reverse is taking place.
As mentioned, both the pound and euro are clearly impacted by both political events and economic factors. A prime example of a political event is to look at the impact of the Brexit vote in 2016 on the value of the pound against the euro. See graph below.
The pound dropped by almost 7% against the EUR following the vote.
We can consider economic impacts such as an increase in the base rate, i.e. the rate of interest which is set by the bank of England. If a rate hike is expected, we could see the pound strengthen.
The same principles apply to the Euro. Therefore economic and political factors in both regions will impact the pound euro exchange rate.
We refer to the big movements in currency pairs with volatility. Volatility literally is the unpredictable and erratic movement of exchange rates in the foreign exchange market. In recent years given both the political landscape and the emergence of a pandemic, we have seen GBP/EUR fluctuate a great deal and it is not uncommon to see movements that exceed 1% per day.
So even on a transfer for example, of £100,000 into Euros, that could easily be the difference of £1000.
No - is the honest answer. Nobody has a crystal ball in working out what the future holds.
There are many websites out there that claim to provide forecasts and indicators as to where they provide opinions on where GBP EUR is heading. There is a great deal of technical jargon which is sometimes used to balance their arguments but being a seasoned professional in the foreign exchange margin, I can say that a lot of the time they get it wrong.
Do not make your judgement based on forecasts. Everyone would like to exchange currency at the best possible time, but this is not the case.
Although, none of us have a crystal ball, if you are making a large transaction to buy euros against pounds or the other way round, then you want to try your level best to transact at the most optimum time.
This is where a currency specialist can help. We know that our customers live busy lives, and we can monitor the market for you. We will be your eyes and ears and do our best to let you know when the GBP EUR rate moves in your favour.
Unless you watch the rate regularly throughout the day, this service alone could save you time and money.
You can also choose how you want to be notified. Either via an email or via phone and you can then happily make your transaction over the phone or via our online platform at the real pound to euro exchange rate with no spreads or hidden fees.