The Bank of England’s index put the pound at 86.5372 against a basket of currencies on 4 November, its highest since 23 June 2016, rather than against the US dollar alone.
Sterling’s effective exchange rate index reached 86.5372 on 4 November 2026, its strongest level since the day of the Brexit referendum, 23 June 2016. The figure comes from newly released Bank of England data, The Guardian said.
The index tracks the pound against a basket of currencies, rather than measuring its exchange rate against the US dollar alone. On the index, 100 represents the pound’s value in January 2005.
Sterling fell significantly after the referendum and reached further lows during the Brexit process, the COVID pandemic and the 2022 mini-budget. A stronger pound can help restrain inflation and give consumers more buying power for imports and overseas holidays.
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