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.

The previous years’ exchange rates for BPS were:

BPS 2017: €1 = £0.89470

BPS 2016: €1 = £0.85228

Payments this year will therefore be marginally lower than last year, but the change is less than 0.2%. If your 2017 payment was £10,000, the drop will be approximately £20.

RPA will begin making BPS 2018 payment from 1st December and the majority should have been paid by the end of the year.