The pound to euro exchange rate dropped from €1.13420 to €1.12749 yesterday after Boris Johnson announced his resignation.

Sterling has been going through a turbulent time since the referendum in June 2016.

But Brexit turmoil deepened as the Britain's Prime Minister Theresa May lost one of her most senior Cabinet members.

Today the exchange rate has recovered slightly but is still low at €1.13024 to the pound (at time of writing).


EXCHANGE RATE: The pound to euro exchange rate has plummeted today

How to get the best exchange rate: 7 top tips

Sterling is set to remain volatile due to Brexit uncertainty. Here finance experts reveal how to get the most for your travel money, take a look through the gallery. Top tips for getting the best exchange rate Getty Images Top tips for getting the best exchange rate

Foreign Secretary Boris Johnsons resignation seems to have impacted the pound in a negative way.

A statement from Downing Street said: "This afternoon, the Prime Minister accepted the resignation of Boris Johnson as Foreign Secretary.

"His replacement will be announced shortly. The Prime Minister thanks Boris for his work."

pound chart XE.COM

LIVE: The current exchange rate is €1.12749 to the pound

Johnson's decision to leave the government came hours after the minister in charge of Brexit negotiations, David Davis, also resigned.

The pound failed to improve against the euro after his resignation.

Mr Davis's official resignation letter read: "The national interest requires a Secretary of State in my department that is an enthusiastic believer in your approach, and not merely a reluctant conscript.

“While I have been grateful to you for the opportunity to serve, it is with great regret that I tender my resignation from the Cabinet with immediate effect.”

Theresa May responded: “I am sorry that the Government will not have the benefit of your continued expertise and counsel as we secure this deal and complete the process of leaving the EU, but I would like to thank you warmly for everything you have done over the past two years as Secretary of State to shape our departure from the EU, and the new role the UK will forge on the world stage as an independent, self-governing nation once again.”

On the two-year anniversary of the Brexit vote currency experts revealed the pound was down 12% against the euro – and it hasnt improved since.

This means youll now get £67 less holiday spending money if you change £500 today, compared with May 2016.

If you are travelling to Europe soon check out our top tips on getting the best exchange rate on your currency.

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