The Rural Payments Agency (RPA) has confirmed the exchange rate for Basic Payment Scheme (BPS) 2018 payments made in sterling.
The euro exchange rate for calculating BPS 2018 payments has been set. The rate, an average of the European Central Bank exchange rates set in September, will be €1 = £0.89281.
BPS payments for England are set in euros and then converted into sterling. The previous years’ exchange rates for BPS were:
BPS 2017: €1 = £0.89370
BPS 2018: €1 = 0.85228
RPA will make full payments on BPS 2018 claims from the beginning of December. The RPA makes all payments directly into bank accounts by BACS transfer.