BPS 2019 payment exchange rate set

The euro exchange rate for calculating BPS 2019 payments has been set. The rate, an average of the European Central Bank exchange rates set in September, will be €1 = £0.89092.

BPS payments for England are set in euros and then converted into sterling. The previous year’s exchange rates for BPS were:

• BPS 2018: €1 = £0.89281
• BPS 2017: €1 = £0.89470

The RPA will make full payments on BPS 2019 claims later this year, with funds being directly made into bank accounts by BACS transfer.