Sterling dropped versus the euro in 2016 and has stayed low.
Exchange rate[edit]
In June 2003, Brown stated that the best exchange rate for the UK to join the euro would be around 73 pence per euro.
[15] On 26 May 2003, the euro had reached 72.1 pence, a value not exceeded until 21 December 2007.
[16] During the final months of 2008, the pound declined in value dramatically against the euro. The euro rose above 80 pence and peaked at 97.855 pence on 29 December 2008.
[17] This compares with its value between March and October 2008, when the value of the euro was about 78 pence, and its value of about 70 pence between April 2003 and August 2007. With the impact of the
global financial crisis of 2008 on the British economy, including failing banks and plunging UK property values,
[18] some British analysts stated that adopting the euro was far preferable to any other possible solutions for Britain's economic problems.
[19] There was some media discussion about the possibility of adopting the euro. On 29 December 2008, the BBC reported that the euro had reached roughly 97.7 pence, due to poorer economic forecasts. This report stated that many analysts believed that parity with the euro was only a matter of time.
[20]
During 2009, the value of the euro against the pound fluctuated between 96.1 pence on 2 January and 84.255 pence on 22 June. In 2010, the value of the euro against the pound fluctuated between 91.140 pence on 10 March and 81.040 pence on 29 June. On 31 December 2010, the euro closed at 86.075 pence.
[24][25][26][27][28] A report in Britain's
Daily Telegraph argued that the high euro had caused problems in the eurozone outside Germany.
There was a fairly steady decline in the euro rate during 2013, 2014 and 2015 from 85 pence to 70 pence. During 2016, the pound declined against several currencies, meaning the euro rose, especially on 24 June 2016 (because of the EU referendum) when the euro rose from 76 pence to 82 pence and further the following days.
[29]
https://en.wikipedia.org/wiki/Unite...wn stated,value dramatically against the euro.
So which of the above exchange rates should the 'Brexit pound' be ?
The best for holidays abroad and imports, or for those exporting to the EU.