Are these the rates I would receive on a transfer?

No. The rates on this page are indicative market reference rates published once each working day by the European Central Bank. They are useful as a benchmark, but they are not an executable customer rate and no transaction can be booked from them. Your rate depends on the currency pair, the amount, the timing and the settlement method, and is confirmed at the point the transaction is arranged.

Why does the rate only change once a day?

The reference series we publish here is the ECB's daily fixing, taken at around 16:00 CET on each TARGET business day. We show that rather than an intraday feed because it is an independent, freely verifiable benchmark. Intraday market rates move continuously throughout the trading day and will differ from the fixing.

What causes the gap between the market rate and a customer rate?

Every currency provider — bank or specialist — applies a margin to the market rate, and there may be a separate transfer fee. The size of the margin varies with the pair's liquidity, the size of the transaction and the settlement route. The practical question is not whether a margin exists but what the total cost of the payment is, which is why we set out pricing directly rather than implying you receive a mid-market rate.

Do you publish rates for every currency you can pay?

No. TimeFX supports payments in far more currencies than the ECB publishes a reference rate for. Where no independent reference exists — the UAE dirham and Saudi riyal are common examples — we show that data is unavailable rather than estimating a number.

Can I fix a rate for a future date?

TimeFX arranges forward contracts, which fix a rate today for settlement on a future date, subject to eligibility, credit assessment and onboarding under the regulatory framework for UK payment services. They are a risk-management tool rather than a speculative product, and we will talk through whether one is appropriate for your exposure before anything is arranged.

Market data

Market FX rates, shown honestly.

Independent daily reference rates and multi-year charts for the pairs UK businesses trade most. We show where the numbers come from, when they were published, and why the rate on your transaction will not be identical.

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Choose a destination to see the settlement currency, the published reference rate and how UK businesses usually structure that route.

Rates shown are indicative daily reference rates, not customer transaction rates. Destinations are subject to onboarding and compliance under the regulatory framework for UK payment services.

Indicative transfer estimate

Reference rate

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Recipient receives (indicative)

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Estimates use daily published reference rates and are for information only. They are not a quote and not an executable customer rate. No transfer is initiated from this website; your rate and any fees are confirmed before a transaction is arranged.

Reference market rates

FX market rates

Independent daily reference rates for the sterling pairs UK businesses trade most. Select a pair to see its history.

All currency pair guides

GBP / USD

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Indicative FX reference rate

Reference rates are published once per working day, so the chart shows end-of-day values rather than intraday movement. Movement shown is against the previous published value. Past movement is not an indication of future rates.

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Volatility is the reason most clients call us

A three-cent move on GBP/EUR is unremarkable in market terms and completely material to a business importing on 90-day terms. Currency risk management exists to take that variability off your margin, and the charts above are the simplest way to see how much variability your pairs have carried.

Currency support built around your trade flows.

What we can set up once your account is open.

Business payments worldwide
Broad currency coverage
Collections where available
FX risk tools where eligible
Pricing agreed before you commit

Discuss your FX requirements

All pairs

Currency pair guides

Each guide covers what drives the pair, its recent range, and how UK businesses typically manage exposure to it.

Indicative vs transaction rates

Two different numbers, and the difference matters

A market reference rate is the price at which large institutions exchange currency with one another, recorded at a fixed moment in the day. It is a benchmark, not an offer. No business — ours included — can transact at it, because settling a payment involves risk, liquidity and operational cost that the benchmark does not carry.

A customer transaction rate is what you actually receive. It reflects the benchmark plus the provider's margin, and it moves with the size of your trade, the pair's liquidity, how far in advance you are booking and how the payment settles. That is why a £5,000 payment and a £500,000 payment in the same pair are rarely priced the same way.

Rates change because the interest-rate outlook, inflation data, trade flows and risk appetite of the two economies change. For a business, the practical consequence is currency risk: the cost of an order agreed today is not settled today, so the margin on it moves with the pair until the payment is made.

We would rather be plain about that than publish a mid-market figure alongside a call-to-action and let you assume the two are connected. When we quote you, the rate and any fee are set out before you commit.

BenchmarkIndependent daily reference fixing — published, and verifiable by anyone.
Your quotePair, amount, timing and settlement route all feed into the price you're shown.
Confirmed firstRate and fees are confirmed before a transaction is arranged, never after.

Convert at the reference rate

See what an amount is worth at the published reference rate, then apply for an account to discuss your actual pricing.

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Indicative conversion

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Rates shown are indicative market reference rates for information only. They are not a quote and not an executable customer rate. The rate applied to a transaction depends on the currency pair, amount, timing and settlement method, and is confirmed at the point the transaction is arranged.

FAQ

Questions about our rate data

Market data on this page is provided for information only and does not constitute financial advice or a recommendation to transact. TimeFX does not hold client funds; regulated payment and FX activity is carried out by our authorised infrastructure partner.

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