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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 rose by 0.2% between July and August, following a fall of 0.2% between June and July. Compared with the same period a year ago, it is 5.0% higher. It is 22.3% below its January 2007 peak level.

 

On average in August compared with July, the pound fell by 0.1% 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 0.5% against the Euro on average in August compared to July, following a rise of 0.3% between June and July.


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