Basic Payment 2016 – Euro Exchange Rate Set

On Friday 30th September the Euro exchange rate was set, this applies to Basic Payment 2016 payments.

Carys Studley of Rostons comments that “this year the exchange rate is set on the average of the whole month of September 2016 and is at €1 = £0.85288.”

Carys also comments that “this compared to last year’s 2015 exchange rate of €1 = £0.73129 means that applicants have that opted to have their payment in sterling will see a stronger exchange rate in their favour however, we will have to wait to hear what the entitlement rates have been set at before we know the final claim value per hectare.”

If you have any queries over how payments are set for Basic Payment in England then please do not hesitate to contact one of the team.