We can all agree that the two major currencies in Europe have an unquestionably close tie to each other. In fact, the exchange rate between pound (GBP) and euro (EUR) is of utmost importance for Europe, the global economy, and every other currency on the forex market. Not only are they two of the world’s leading currencies, but they are also two of the strongest currencies, possibly even stronger than the USD. Together the GBP and EUR have more currencies pegged to their values than any other currency.
The pound and euro are also extremely popular to trade with, ranking as the second (EUR) and fourth (GBP) most-traded currencies in 2016, representing over a third of the daily market share. You could call them one of the super couples on the forex market.
But their influence is even bigger than that. You see, GBP and EUR are two of the largest reserve currencies in the world. This means many international trades, as well as a lot of the world’s import and export, is done using GBP or EUR.
Today, the two currencies impact on the international market has never been more evident to the public. After Britain voted to leave the European Union in 2016, the tension has been higher than ever. After the vote, the GBP dropped to an all-time low and it hasn’t regained its value since. The GBP price drop also had a negative effect on several other currencies that are still struggling.
Then there is the touristic aspect of the relationship between the pound and euro. Since the UK is one of few countries in Europe that still has their own currency everyone visiting has to exchange their local currency to GBP. Considering that you can take a train from France to England in just under an hour or get on a flight in the UK and be anywhere in Europe within hours, the daily demand to exchange pound to euro is enormous.
Convert Pound to Euro
As you might understand from all of the above reasons, there is a need to calculate the price of 1 pound to euro. Luckily enough, there is an easy way to do that. By using a currency converter you can compare any of the world’s currencies, and with our practical online currency converter, you can do it right in your browser.
We would actually take it one step further and say that our online currency converter is one of the best on the market. It’s definitely the easiest way to check the exchange rate of GBP in EUR. All you have to do is type the amount you want to exchange and you’ll be presented with the needed information.
Our currency converter also comes with another practical tool, a favorite among currency traders. It has a history function that shows you how the price between GBP and EUR has developed over time – everything from over the last hour to a few years. The price history of these two currencies is invaluable information for anyone trying to work out a structure for trading with the pound to euro exchange rate.
We also recommend that you bring our currency converter with you on your next trip abroad since it is a practical way of checking how much different products and services cost. Since the tool covers more than the GBP to EUR exchange rate, you can use it anywhere in the world.