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Eddie Money released his version as a single in 1989 and included it on his album Greatest Hits: The Sound of Money. The single debuted on the US Billboard Hot 100 chart on 2 December 1989, and reached a peak of number 11. It also reached number two on the BillboardAlbum Rock Tracks chart and number 34 on the BillboardAdult Contemporary chart. In Canada, "Peace in Our Time" reached number three.
In 1993, British singer and actor Cliff Richard released a cover of "Peace in Our Time" as the second single from his 31st studio album, The Album (1993). The song was produced by him with Paul Moessl and released in March 1993 by EMI. It peaked at number eight on the UK Singles Chart, and was a top-30 hit in Ireland and a top-60 hit in Germany.
Critical reception
Alan Jones from Music Week gave Richard's version of the song three out of five, writing, "The Chamberlain-esque title conceals a commercial single penned by Andy Hill and Peter Sinfield, who wrote many of Bucks Fizz's finest. Upbeat, well sung and hopeful, with bounding, club-friendly Harding/Curnow mixes."