Currency Conversion Rates
Rule 14.21 of the Insolvency (England and Wales) Rules 2016 stipulates that all claims from creditors should be converted to GBP (£) using exchange rates prevailing on the date of appointment (being 13 July 2020).
Accordingly, suppliers and customers with claims in a currency other than GBP (£) are required to convert the amount into GBP (£) when submitting their claim.
The exchange rates as at 13 July 2020 can be found on the Bank of England's website.
For ease of reference, conversion rates for those with claims in EUR (€) or USD ($) can be found below.
- US Dollar ($) - 1.2619
- Euro (€) - 1.1101
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