Sterling effective exchange rate index (ERI)
What a pound is worth against everything at once, not just the dollar — trade-weighted, back to 1964, and in the real version adjusted for the inflation gap against each trading partner.
| Indicator | 08-2026 | 07-2026 | 06-2026 | 05-2026 | 04-2026 | 03-2026 | 02-2026 | 01-2026 | 12-2025 | 11-2025 | 10-2025 | 09-2025 | 08-2025 | 07-2025 | 06-2025 | 05-2025 | 04-2025 | 03-2025 | 02-2025 | 01-2025 | 12-2024 | 11-2024 | 10-2024 | 09-2024 | 08-2024 | 07-2024 | 06-2024 | 05-2024 | 04-2024 | 03-2024 | 02-2024 | 01-2024 | 12-2023 | 11-2023 | 10-2023 | 09-2023 | 08-2023 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Real, narrow basket (27 economies) | 111.46 | 111.72 | 110.52 | 110.22 | 109.9 | 109.94 | 110.24 | 110.64 | 110.11 | 108.69 | 109.69 | 109.91 | 110.3 | 110.21 | 111.63 | 111.77 | 110.58 | 111.03 | 110.79 | 109.79 | 111.49 | 110.93 | 110.97 | 110.19 | 108.73 | 109.58 | 109.1 | 108.12 | 107.61 | 107.86 | 107.6 | 107.18 | 107.15 | 106.08 | 105.66 | 106.82 | 107.35 | |
| Nominal, narrow basket (27 economies) | 106.09 | 106.2 | 105.17 | 105.06 | 104.69 | 104.69 | 104.65 | 104.88 | 104.19 | 103.17 | 104.1 | 104.5 | 104.76 | 104.77 | 106.08 | 106.3 | 105.26 | 106.58 | 106.33 | 105.41 | 106.89 | 106.47 | 106.79 | 106.37 | 104.97 | 106.13 | 105.37 | 104.5 | 104.1 | 104.22 | 103.91 | 103.53 | 103.04 | 102.29 | 102.04 | 103.05 | 103.82 | |
| Real, broad basket (64 economies) | 112.33 | 112.26 | 111.08 | 111.24 | 110.93 | 110.96 | 111.09 | 111.71 | 111.62 | 110.22 | 111.63 | 112.18 | 112.61 | 112.64 | 114.14 | 113.93 | 112.87 | 111.93 | 110.83 | 109.92 | 112.11 | 111.67 | 111.86 | 111.31 | 110.02 | 110.82 | 110.58 | 109.5 | 109.07 | 109.49 | 108.69 | 108.62 | 108.67 | 107.56 | 107.3 | 108.65 | 109.3 | |
| Nominal, broad basket (64 economies) | 112 | 111.74 | 110.6 | 110.87 | 110.61 | 110.73 | 110.89 | 111.14 | 110.6 | 109.48 | 110.77 | 111.46 | 111.68 | 111.75 | 112.95 | 112.82 | 111.89 | 111.99 | 111.01 | 110.07 | 111.79 | 111.48 | 111.89 | 111.73 | 110.25 | 111.19 | 110.25 | 109.15 | 108.82 | 109.18 | 108.64 | 108.27 | 107.54 | 106.61 | 106.32 | 107.46 | 108.31 |
Latest reading
Real, narrow basket (27 economies) stood at 111.46 in Aug 2026. That is −0.2% from Jul 2026 and +1.1% from a year earlier. The series on this page is monthly and runs from Jan 1964 to Aug 2026. Source: Bank for International Settlements (BIS).
- Latest
- 111.46
- Aug 2026
- vs previous period
- −0.2%
- Jul 2026
- vs a year earlier
- +1.1%
About this data
What a pound is worth against everything at once, not just the dollar — trade-weighted, back to 1964, and in the real version adjusted for the inflation gap against each trading partner. Both devaluations, the 1992 ERM exit and the 2016 fall are on one line.
Frequently asked questions
- What is the sterling effective exchange rate index (ERI)?
- The sterling effective exchange rate index measures the trade-weighted multilateral exchange value of the UK pound relative to currencies of major trading partner economies.
- What is the difference between the narrow and broad sterling baskets?
- The narrow sterling basket covers 27 partner economies, whereas the broad basket extends coverage across 64 economies.
- How do the nominal and real sterling indices differ?
- The nominal sterling index tracks trade-weighted currency exchange rates, while the real index adjusts these currency movements for relative inflation differentials between the UK and its trading partners.
- How often is the sterling ERI updated and how far back does it go?
- The sterling effective exchange rate index is updated monthly by the Bank for International Settlements (BIS) and provides series extending back to 1964.
