About This Statistic
This statistic displays the annual exchange rate (average or standardized measure) of the euro to the British pound sterling (EUR GBP), according to data provided by the European Central Bank, from the introduction of the euro in 1999 up until 2016. The average (standardized) measure presents the calculation, which is based on many observations throughout the period in question. This is different than an annual measure at a point in time; the annual measure presents concrete values as of the end of the year. Between the years of 2000 and 2009, the average annual exchange rate of the euro to the British pound sterling noted a steep increase. In 2009, the euro to British pound sterling annual average exchange rate was equal to 0.89, which meant that one euro could buy 0.89 British pounds. By 2016 this value had decreased, to a value of 0.82, which again meant that one euro could buy 0.82 British pounds. The Brexit referendum can be seen as the likely reason for the noted increase in value of euro to British pound sterling in 2016. Following the referendum result, in June 2016, the monthly exchange rate increased and continued to do so for the majority of the rest of the year.