United Kingdom

GBP - Pound Sterling
Convertible: Yes - Transferable: Yes - Exchange rate regime: Floating
United Kingdom

EUR/GBP SPOT

Types of transaction

FX Spot FX Forward
Delivery date: T; T+1; T+2 Maximum maturity: 24 months
Liquidity: Good Liquidity: Good

EUR/GBP parity: liquidity schedules (GMT)

EUR/GBP parity: liquidity schedules (GMT)

Did you know?

Monetary policy

  • The Bank of England (BoE) is the central bank of the United Kingdom: its objective is to serve the general interest by maintaining the monetary and financial stability of the country.
  • Price setting method: the exchange rate is floating. It is therefore the law of supply and demand that determines the value of the British Pound against other currencies.

Features and highlights

  • In June 2016, the "yes" vote in the Brexit referendum led to a sharp decline in the Pound Sterling: it then corrected 8.8% against the USD and 6.7% against the EUR in the days following the announcement of the result.
  • In October 2016, the currency of the UK was the victim of a "flash crash", which made it unravel by nearly 9% in a few seconds, before regaining almost all the lost ground. This event took place in Asian trading when liquidity is not optimal on the Pound Sterling.

Regulations

There are no special restrictions on the purchase and sale of GBP.

Expert opinion

In the short-term and medium-term, the evolution of the GBP should be strongly linked to the progress of the negotiations on the final terms of the United Kingdom’s exit from the European Union.

Payments in GBP to United Kingdom

Payment instructions must contain:

  • Either: the bank sort code, the name and address of the bank, and the full name, address and account number of the beneficiary
  • Or: the IBAN, the name and address of the beneficiary.
Public Holidays 2018 (subject to change)
New Year's Day 1 January Spring Bank Holiday 28 May
Good Friday 30 March Summer Bank Holiday 27 August
Easter Monday 2 April Christmas Day 25 December
Early May Bank Holiday 7 May Boxing Day 26 December