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Agricultural Solicitors Ipswich, Bury St Edmunds, Felixstowe, East Anglia - SFP 2010 Forms /resources/articles/241-agricultural-articles/272-pounds-versus-euros

Home > News & Resources > Articles > Articles > Pounds Versus Euros

Pounds Versus Euros

Author: Jeanette Dennis

Date: 13th May 2010

If you opt to be paid your SFP in sterling on your 2010 application form (and most farmers do keep to sterling on those forms), you could still protect yourself against future currency swings, and uncertainties, by hedging against the Euro. Various banks and currency exchange houses are offering products which effectively allow you to "gamble" against the currency changes that could occur, and you could pick any time, or you could link it to when the payment levels are set later this year.

The SFP payments are linked to the exchange levels as at 2.30pm UK time on 30th September 2010, so anyone (and not just farmers) could take a hedging position at any point against where they think the Euro will be on that date and time.