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At its current rate, the Euro is worth 87p, slightly higher than the conversion figure when last year’s payment was established. However, debt crises in Greece, Italy and Spain could see that rate falling. Nevertheless, farmers can take succour from the fact that since 1st October 2010 the exchange rate has only fluctuated between 83.1p and 90.04p, a movement of 4 per cent either side of today’s rate.