BPS Conversion Rate September 22, 2016 12:00 am Most readers will be aware that the average ‘official’ £/€ exchange rate during September sets the rate at which BPS payments are converted into Sterling. With the month not quite finished at the time of writing, the final figure is not yet available. However, based on the rates up to this point, it seems highly likely that the conversion rate will be close to €1 = £0.85 (or £1 = €1.18). For BPS recipients this compares favourably with last year’s €1 = £0.73129. The weakening of the Pound by 16% will add this much to 2016 payment rates. In round terms it will add £350m to farmers’ direct payments.
