Bank of England FX Reference Rates
The Bank of England (BoE) reference exchange rates offer daily indicative mid-market values for major global currencies. These rates are typically updated at around 10:30 CET each working day and reflect conditions observed on the previous business day.

Interactive Charts and Historical FX Data
The table above lists the latest FX reference rates provided by the BoE. Each currency pair row can be expanded to display a historical exchange rate chart. These visual tools allow you to track daily changes, identify trends, and analyze market movements over time.

Informational Use and Methodology
The BoE publishes these rates for informational purposes only. They are not official or legally binding rates and should not be considered more authoritative than rates published by commercial banks in the London foreign exchange market. The reference rate is calculated as the midpoint (arithmetic average) between the observed bid and ask quotes at the time of publication.


Frequently Asked Questions about BoE FX Rates

What are the BoE reference rates?
They are daily mid-market exchange rates for major global currencies, published by the Bank of England. They reflect average values based on bid/ask quotes from the market and are intended solely for reference.

When are the rates published?
The Bank of England typically publishes the rates at approximately 10:30 CET on each working day, using market data from the previous business day.

Are BoE FX rates official?
No. The BoE explicitly states these are not official exchange rates. They are indicative values that serve informational purposes and should not be treated as binding.

How are the rates calculated?
The exchange rates are computed as the arithmetic average (midpoint) of observed bid and ask prices in the London FX market at a specific time during the day.

Can I use these rates for transactions?
You can use them as a general guide or benchmark, but for actual transactions, it’s best to refer to your financial institution or trading platform, as commercial banks set their own live rates.

Which currencies are covered?
BoE reference rates typically include major currencies such as the US dollar (USD), euro (EUR), Japanese yen (JPY), Swiss franc (CHF), and others with high trading volumes in London.

Where can I view historical exchange rates?
You can view historical FX rate charts by expanding each row in the table above. The interactive charts provide a daily view of exchange rate trends over time.

SONIA – Sterling Overnight Index Average
SONIA (Sterling Overnight Index Average) is the key benchmark for overnight interest rates in the United Kingdom. It reflects the volume-weighted average rate at which banks and financial institutions borrow and lend in GBP on an unsecured overnight basis.

Interactive Chart and Historical SONIA Data
The table above is updated daily with the most recent SONIA rate. Click to expand and access the interactive chart showing historical daily values. This allows you to explore overnight market trends, assess volatility, and track how short-term funding conditions in the UK evolve over time.

Administration and Publication
SONIA is administered and published by the Bank of England at around 10:00 CET each business day. The rate is based on actual transactions from the previous day and forms a crucial part of the UK’s monetary and financial framework.

SONIA and/or SONIA Compounded Index data are licensed under the Open Government Licence v3.0 and © the Governor and Company of the Bank of England. The trade marks “Bank of England” and “SONIA” are registered trademarks of the Bank of England.


Frequently Asked Questions about SONIA

What is SONIA?
SONIA is the Sterling Overnight Index Average, a benchmark interest rate that measures the average cost of overnight unsecured lending in British pounds. It is used widely across UK financial markets.

How is SONIA calculated?
SONIA is based on the volume-weighted average of all eligible overnight transactions in the sterling money market. It includes trades conducted by banks and building societies without the use of collateral.

When is SONIA published?
The Bank of England publishes the SONIA rate every business day at approximately 10:00 CET, reflecting activity from the prior business day.

What is SONIA used for?
SONIA is a key benchmark for loans, floating-rate notes, interest rate swaps, and other derivatives. It is also used to calculate compounded interest for risk-free rate products, making it a reliable reference across markets.

How is SONIA different from LIBOR?
Unlike LIBOR, which was based partly on estimates, SONIA is derived entirely from actual transactions. It is more transparent and less susceptible to manipulation, making it a preferred alternative for modern financial contracts.

Where can I view historical SONIA rates?
You can explore historical SONIA values by expanding the table row above and using the interactive chart. It allows you to analyze day-to-day changes and long-term patterns.

The Bank Rate is the single most important interest rate in the UK. It represents the overnight interest paid by the Bank of England to banks. It is set by the Monetary Policy Committee of the BOE.

The Yield Curve Spot Rates are the nominal interest rates on UK government bonds with various maturities. The data is published by the BOE each business day, focusing on the previous business day.
A yield curve (also known as the term structure of interest rates) represents the relationship between interest rates and the remaining time to maturity of debt securities. These yields reflect market participants' expectations of future inflation, real interest rates and assessment of various risks.