The pound to euro exchange rate has been subject to extensive change throughout Brexit, from the day of the referendum vote to today. An exchange rate measures the value of one country’s currency in relation to another currency. But when and what has been the highest pound to euro rate ever recorded?
Despite the EU launching legal proceedings against the UK over the internal market bill, officials in London are increasingly optimistic about a possible Brexit deal.
This is having a positive impact on the pound to euro exchange rate.
A source told the Financial Times: “We’ve gone from about 30 percent chance of a deal to the other way around. I think it’s almost certain we’ll enter the tunnel.”
The Pound-to-Euro exchange rate bounced off the day's low at 1.0922 to trade at 1.1039 at the time of writing.
READ MORE: Pound to euro exchange rate: GBP records 'strong month-end'
What is the average pound to euro rate?
Over the course of its 20-year history, the pound to euro rate has averaged at €1.33.
At current levels, the pound currently sits well below its average levels.
But in the past decade, the Pounds has traded at much lower levels than the decade before.
In the past 10 years, the average GBP/EUR rate was €1.20.
What is the lowest pound to euro rate ever?
The weakest position the Pound has held compared to the Euro was €1.02 on December 30, 2008.
This rate was seen during the global financial crisis in 2008 and therefore at a time when the UK banking system was extremely fragile.
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