SPS Conversion Rate 2013
The rate for converting the 2013 Single Payment will be €1 = £0.83605. This is the official rate as set on the 30th September which fixes the value for 2013 payments. This figure is an increase of 4.8% on last years figure but is still lower than rates set between 2009 and 2011. The increase in conversion rate this year will help offset the reduction in payments due to Financial Discipline. This is being imposed for the first time to keep spending within the new EU budget. A deduction of 4.98% has been proposed but not yet fixed.