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Guernsey - Pound Sterling - Currency Guide

 

Foreign exchange guide to Guernsey and the Pound Sterling (GBP)

   

General Currency Info - Pound Sterling

The British pound (ISO: GBP) is one base unit of sterling – that being the name of Britain's currency – and is subdivided into 100 pence.

Contributing to around 13% of all foreign exchange deals, the pound, or sterling, is the world’s fourth most traded currency.

Reputedly, sterling is 1200 years old. It is said that Anglo-Saxon traders used silver pennies in the eighth century called ‘sterlings’, 240 of which would equal one pound in weight.

Due to its membership of the European Union, Britain could have adopted the euro as its currency upon its introduction in 1999, however the British government opted against this because it wanted to retain monetary policy independence and because it perceived euro adoption as offering only small economic benefits.

In recent years, the most significant event to affect sterling’s valuation was the UK’s vote to leave the European Union on June 24th 2016 – a day on which the exchange rate for GBP/USD fell by as much as 11%.

In the past two decades, the pound’s highest valuation against the dollar occurred in November 2007 when GBP/USD reached 2.1161. Its lowest value came in October 2016, three-and-a-half months after the historic ‘Brexit’ vote, when GBP/USD reached 1.1905.

   

GBP News, Forecasts and Trends

GBP will rise to 1.25 against the euro according to Standard Bank. The coronavirus pandemic has replaced Brexit in the headlines and means that the deadline for a trade deal with the Eurozone this year could either be pushed back, delaying a risk for the currency, or see more favorable terms given to the U.K.

This is a remarkable change of fortunes for GBP which was sold-off after the Brexit vote and again after the virus forced a lockdown in London, the world’s largest foreign-exchange centre. Against the dollar, sterling touched the lowest level in 35 years in March as traders sought the safety of the USD.

For more GBP currency market forecasts you can read the full article Pound Sterling Forecasts. The below interactive chart shows the USD to GBP exchange rate, trend and recent alerts for the last 90 days.

   
Recent USD to GBP 90-day trend
 
14-DAY-HI (6d)
USD/GBP at 0.8004 was trading 0.8% below AVG:0.8072 with LO:0.7845 and HI:0.8661 (90 days). There are no current rate alerts.

US Dollar to Pound Sterling - Historical Rates

USD/GBP rateChangePeriod
29 Jun 2020 : 0.81231.4% ▼1 Week
06 Jun 2020 : 0.78951.4% ▲30 Days
07 Apr 2020 : 0.81061.2% ▼90 Days
07 Jul 2019 : 0.79850.3% ▲1 Year
08 Jul 2015 : 0.650623.1% ▲5 Years
09 Jul 2010 : 0.662620.8% ▲10 Years
USD/GBP 10 year historic rates & changes to 06-Jul-2020 : 0.8006
 

U$1,000 USD
=
£799.02 GBP

Converted at USD/GBP wholesale exchange rate, compare foreign transfer and spend/travel exchange rates.

 
 

US Dollar to Pound Sterling - Quick Conversions

USD GBP
U$ 1 £ 0.7990
U$ 5 £ 3.9950
U$ 10 £ 7.9900
U$ 20 £ 15.98
U$ 50 £ 39.95
U$ 100 £ 79.90
U$ 250 £ 199.75
U$ 500 £ 399.50
U$ 1,000 £ 799.00
U$ 2,000 £ 1,598
U$ 5,000 £ 3,995
U$ 10,000 £ 7,990
U$ 50,000 £ 39,950
U$ 100,000 £ 79,900
More amounts
USD GBP
U$ 1.2515 £ 1
U$ 6.2575 £ 5
U$ 12.52 £ 10
U$ 25.03 £ 20
U$ 62.58 £ 50
U$ 125.15 £ 100
U$ 312.88 £ 250
U$ 625.75 £ 500
U$ 1,252 £ 1,000
U$ 2,503 £ 2,000
U$ 6,258 £ 5,000
U$ 12,515 £ 10,000
U$ 62,575 £ 50,000
U$ 125,150 £ 100,000
More amounts

Frequently Asked Questions

 

What currency should I use in Guernsey?

The domestic currency in Guernsey is the Pound Sterling.

What is the Pound Sterling currency code and symbol?

The three letter currency code for the Pound Sterling is GBP — symbol is £.

Which countries use the Pound Sterling?

It is the domestic currency in    United Kingdom,   Guernsey,   Isle of Man,   Jersey and South Georgia and South Sandwich Islands.

Is the Pound Sterling a closed currency?

No, the Pound Sterling is freely available and convertible. See guide: What is a closed currency?

 

Travel, Currency and Money saving tips for Guernsey

The second-largest island in the Channel Islands, Guernsey has gone to great lengths to change its sleepy backwater image, and it's working. Flatter and less dramatic-looking than Jersey, Guernsey has some stunning beaches, particularly along the north coast, rugged cliffs in the south, and a lively, compact capital of St Peter Port.

There's more to Guernsey than offshore banking and cream teas: there are Neolithic graves, Victorian forts and German fortifications to explore, adventure sports such as coasteering and rock climbing are on the rise, the north coast is excellent for watersports, and St Peter Port lures visitors in with its great dining scene. Like the rest of the Channel Islands, it is not part of the UK, but nonetheless it feels resolutely British. Yet due to its proximity to France and its quirky laws and customs it has a very unique feel to it.

What currency to use in Guernsey?

UK currency can be used in Guernsey, but Guernsey's own notes and coins are not accepted outside of Guernsey so make sure you change your currency before leaving. Each ATM will state whether it dispenses British or Guernsey pounds, so if you pay attention you can avoid picking up much local currency if you want to avoid that There are plentiful ATM machines in St Peter Port and at banks in outlying parishes. No VAT is charged on Guernsey.

How to get around in Guernsey?

Guernsey is largely flat and a pleasure to cycle around. Numerous rural lanes are designated Ruettes Tranquilles, where the speed limit for cars is 15mph and priority is given to cyclists, and there are designated cycle lanes in town and along the coast. You can rent bicycles from outlets in St Peter Port and also along Guernsey's north coast.

The bus network covers all the island's parishes and major attractions. A Guernsey sightseeing route, The Guernsey Vaeux (numbers 91, 92, 93), goes all the way around the island, allowing visitors to get off at various attractions. The flat fare is £2 for all journeys of any distance on all routes; children three and under go free, older children pay the flat rate. There is also a range of travel passes: from £4.50 for a one-day pass, to £38 for a seven-day family pass, good for two adults and up to three children.

Main international car rental outlets have branches at the airport, as does the local Value Rent a Car. Scooters and motorcycles can be rented in St Peter Port. Speed limits on Guernsey vary from 12 to 15mph in town to 25 to 35mph elsewhere. There are many narrow county lanes with passing places and blind corners. In fine weather, motorbiking or scootering around Guernsey is hugely enjoyable, plus parking is easier.

Travel tips for Guernsey.

Along with traditional beach pursuits such as swimming, windsurfing and rock-pooling, there has been a growth in adrenalin-fuelled activities such as sunset abseiling, cliff face rock-climbing or coasteering explorations. In an effort to draw more tourists, Guernsey has been attempting to change its traditional image as a somewhat sedate, sleepy backwater, best known for offshore finance and Guernsey cream teas. In the unlikely event you tire of the coast, Guernsey has monuments ranging from eerie Neolithic tombs to Napoleonic towers and World War II bunkers and tunnels − potent reminders that the Channel Islands were the only the parts of the British Isles occupied by German forces.

Guernsey may be the most densely populated of the Channel Islands but it retains quaint rural lanes, fine sandy beaches and miles of spectacular cliffs in the south. The island has one of the largest tidal movements in the world, with waters retreating twice a day to reveal large expanses of golden sands and lunar-like seascapes, pierced with rocks and reefs.

Tasty Walks is a series of 20 self-guided walks which make the most of the very best the island has to offer - its stunning scenery and fabulous food. Whether it's the rugged south coast cliff paths, the long sweeping bays of the west or uncovering the historic past of the island's capital, the island has much to offer in just 25 square miles.

 

Travel money for Guernsey

Save money and time by Ordering your Pounds Sterling online from Travelex, you get better rates and can pick up the GBP cash locally or even on travel day at the airport.

Another popular option is to use a Pre-paid Travel Card. Your Debit/Credit Card provider will charge you 2% from market mid-rate, but your bank may also charge an extra 3% as an “Overseas Transaction Charge” plus “Overseas ATM” fees for withdrawing cash.

For card purchases if offered a choice of currencies always select to Pay in Pounds Sterling otherwise you may get much worst exchange rates.

 
Provider ReviewAmount GBP(£)Exchange RateFee USDDeal Links
TransferWise
> Best Overall
£783.08
1.99%
0.795U$15.00
U.S. Bank logo
U.S. Bank
£747.90
6.4%
£35 less
0.74790
Banks - Average Rate
U.S. Bank logo Wells Fargo Bank logo
£740.42
7.33%
£43 less
0.747915
Wells Fargo Bank logo
Wells Fargo Bank
£732.94
8.27%
£50 less
0.7479U$20
Travelex Online
£727.90
8.9%
0.72790^
TransferWise
 
loading
TransferWise: Travel Money USD→GBP
From Amount (USD)U$1,000
Fee:U$15.00 USD (1.5%)
Exchange Rate:0.7950 (-0.5% from mid-rate)
To Amount (GBP) £783.08
Total Cost:1.99%
Time:0:29 Local
Currency Services:Multi-currency debit card with linked foreign bank accounts
Delivery/Collect:5-7 days
Rating:
 
: 4.6/5.0
Review:


U.S. Bank
 
loading
U.S. Bank: Travel Money USD→GBP
From Amount (USD)U$1,000
Fee:0
Exchange Rate:0.7479 (-6.4% from mid-rate)
To Amount (GBP) £747.90
Total Cost:6.4%
Time:0:29 Local
Currency Services:Branch
Delivery/Collect:-
Rating:
: /5.0
Review:


Banks - Average Rate
 
loading
Travel Money USD→GBP
From Amount (USD)U$1,000
Fee:15
Exchange Rate:0.6991 (-12.5% from mid-rate)
To Amount (GBP) £740.42
Total Cost:7.33%
Currency Services:Branch
Delivery/Collect:-


Wells Fargo Bank
 
loading
Wells Fargo Bank: Travel Money USD→GBP
From Amount (USD)U$1,000
Fee:U$20 USD (Minimum fee)
Exchange Rate:0.7479 (-6.4% from mid-rate)
To Amount (GBP) £732.94
Total Cost:8.27%
Time:0:29 Local
Currency Services:Branch
Delivery/Collect:-
Rating:
: /5.0
Review:


Travelex Online
 
loading
Travelex Online: Travel Money USD→GBP
From Amount (USD)U$1,000
Fee:$0 - No fees for Debit & Credit Cards
Exchange Rate:0.7279 (-8.9% from mid-rate)
To Amount (GBP) £727.90
Total Cost:8.9%
Time:
Rate Fetched: Tue Jul 07 2020 00:15:03 GMT+0000 (UTC)
Currency Services:FREE Home delivery & Branch pickup
Delivery/Collect:2-3 days
Rating:
 
: 4.3/5.0
Review:


 
loading
Snapshot 07/07/2020 - View live rates

Sending money to Guernsey

When searching around for information on how to get a good exchange rate when sending money to Guernsey you need to start with finding out the latest Pound Sterling exchange rate for foreign-transfers, which can be very different to the wholesale rate.

Then compare your bank's exchange rates to several licensed FX providers exchange rate and fees to see how much you can save - we make that calculation easy in the below table.

 

USD to GBP International Money Transfers

Provider ReviewReceive GBP(£)Exchange RateFee USDDeal Links
OFX
> Best Overall
£792.60
0.8%
0.79260^
XE
£787.00
1.5%
0.7870
HSBC logo
HSBC
£770.74
3.54%
£22 less
0.7719U$1.50
U.S. Bank logo
U.S. Bank
£768.80
3.78%
£24 less
0.76880
Bank of America logo
Bank of America
£757.27
5.22%
£35 less
0.7688U$15
Wells Fargo Bank logo
Wells Fargo Bank
£757.25
5.23%
£35 less
0.7727U$20
Banks - Average Rate
U.S. Bank logo Bank of America logo HSBC logo Wells Fargo Bank logo
£763.52
4.44%
£29 less
0.770615
OFX
 
loading
OFX: Foreign Transfer USD→GBP
From Amount (USD)U$1,000
Fee:0^ - No fees for BestExchangeRates users (normally $12 for smaller transfers)
Exchange Rate:0.7926 (0.8% from mid-rate)
To Amount (GBP) £792.60
Total Cost:0.8%
Time:
Rate Fetched: 0:29 Local
Transfer Speed:1-2 days
Services:Bank Transfers - Online & Phone, Speak to Dealers, Foreign Currency Accounts
Rating:
 
: 4.8/5.0
Review:


Compare OFX Rates
XE
 
loading
XE: Foreign Transfer USD→GBP
From Amount (USD)U$1,000
Fee:
Exchange Rate:0.7870 (1.5% from mid-rate)
To Amount (GBP) £787.00
Total Cost:1.5%
Time:0:29 Local
Transfer Speed:1-2 days
Services:Bank Transfers - Online & Phone, Speak to Dealers
Rating:
 
: 3.5/5.0
Review:


Compare XE Rates
HSBC
 
loading
HSBC: Foreign Transfer USD→GBP
From Amount (USD)U$1,000
Fee:U$1.50 USD (.15%)
Exchange Rate:0.7719 (3.39% from mid-rate)
To Amount (GBP) £770.74
Total Cost:3.54%
Difference:
£22 GBP less than using OFX
Time:0:29 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Review:


Compare HSBC Rates
U.S. Bank
 
loading
U.S. Bank: Foreign Transfer USD→GBP
From Amount (USD)U$1,000
Fee:0
Exchange Rate:0.7688 (3.78% from mid-rate)
To Amount (GBP) £768.80
Total Cost:3.78%
Difference:
£24 GBP less than using OFX
Time:0:29 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Review:


Compare U.S. Bank Rates
Bank of America
 
loading
Bank of America: Foreign Transfer USD→GBP
From Amount (USD)U$1,000
Fee:U$15 USD (Minimum fee)
Exchange Rate:0.7688 (3.78% from mid-rate)
To Amount (GBP) £757.27
Total Cost:5.22%
Difference:
£35 GBP less than using OFX
Time:0:29 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Review:


Compare Bank of America Rates
Wells Fargo Bank
 
loading
Wells Fargo Bank: Foreign Transfer USD→GBP
From Amount (USD)U$1,000
Fee:U$20 USD (Minimum fee)
Exchange Rate:0.7727 (3.29% from mid-rate)
To Amount (GBP) £757.25
Total Cost:5.23%
Difference:
£35 GBP less than using OFX
Time:0:29 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Review:


Compare Wells Fargo Bank Rates
Banks - Average Rate
 
loading
Foreign Transfer USD→GBP
From Amount (USD)U$1,000
Fee:15
Exchange Rate:0.7672 (3.98% from mid-rate)
To Amount (GBP) £763.52
Total Cost:4.44%
Difference:
£29 GBP less than using OFX
Transfer Speed:
Services:


 
loading
Snapshot 07/07/2020 - View live rates

Get a better deal for foreign transfers to Guernsey

When sending money to Guernsey it’s important to compare your bank’s rates & fees with those we have negotiated with our partner money transfer providers. To get a better deal you should follow these 4 simple steps :

  1. Open an account with a BER reviewed FX provider (id docs may be required)
  2. You specify the local or Pound Sterling amount you want to transfer
  3. Make a local currency domestic transfer for the requested amount to the provider's bank account in your country
  4. Once your funds are received by the provider the converted GBP amount will be transfered to the recipient account you specify in Guernsey.

Use the above Send to Pounds Sterling calculator to compare the exchange rates of FX specialist providers rates versus your bank's standard rates you can hopefully save around 5% and maybe more - end result is more Pounds Sterling deposited into the recipient bank account and less margins and fees kept by the banks!


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