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The Sterling Exchange Rate Index (SERI) measures sterling’s value against a ‘basket’ of currencies, ‘trade‑weighted’ (based on currencies’ relative importance in UK trade).

The SERI fell by 0.1% between November and December, following a fall of 0.1% between October and November. Compared with the same period a year ago, it is 4.5% higher. It is 22.8% below its January 2007 peak level.


On average in December compared with November, the pound fell by 1.1% against the dollar. After falling to a 31 year low of $1.14 in June 2017, the value of the pound against the dollar reached $1.43 in April 2018, its highest level since the EU referendum. The pound fell to $1.15 in March 2020, its lowest since June 2017, before reaching $1.42 in May 2021, its highest rate since April 2018.

Sterling rose by 0.1% against the Euro on average in December compared to November, following a fall of 0.1% between October and November.

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