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
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 favourable terms given to the U.K.
Get more details in the article British Pound Forecasts.
For more GBP currency market forecasts you can read the full article Pound Sterling Forecasts. The above interactive chart shows the USD to GBP exchange rate, trend and recent alerts for the last 90 days.
US Dollar to Pound Sterling - Historical Rates
| USD/GBP | Change | Period |
|---|
| 0.7483 24 Nov 2020 | 0.5% ▼ | 1 Week |
| 0.7736 01 Nov 2020 | 3.7% ▼ | 30 Days |
| 0.7492 02 Sep 2020 | 0.6% ▼ | 90 Days |
| 0.7728 02 Dec 2019 | 3.6% ▼ | 1 Year |
| 0.6605 03 Dec 2015 | 12.8% ▲ | 5 Years |
| 0.6371 04 Dec 2010 | 16.9% ▲ | 10 Years |
USD/GBP 10 year historic rates & change to 01-Dec-2020 : 0.7448
U$10,000 USD
=
£7,504 GBP
Converted at USD/GBP interbank rate,
compare
Send Money
and
Currency Exchange
exchange rates.
US Dollar to Pound Sterling - Quick Conversions
|
USD |
GBP |
| U$ 1 |
£ 0.7504 |
| U$ 5 |
£ 3.7520 |
| U$ 10 |
£ 7.5040 |
| U$ 20 |
£ 15.01 |
| U$ 50 |
£ 37.52 |
| U$ 100 |
£ 75.04 |
| U$ 250 |
£ 187.60 |
| U$ 500 |
£ 375.20 |
| U$ 1,000 |
£ 750.40 |
| U$ 2,000 |
£ 1,501 |
| U$ 5,000 |
£ 3,752 |
| U$ 10,000 |
£ 7,504 |
| U$ 50,000 |
£ 37,520 |
| U$ 100,000 |
£ 75,040 |
| More amounts |
|
USD |
GBP |
| U$ 1.3326 |
£ 1 |
| U$ 6.6630 |
£ 5 |
| U$ 13.33 |
£ 10 |
| U$ 26.65 |
£ 20 |
| U$ 66.63 |
£ 50 |
| U$ 133.26 |
£ 100 |
| U$ 333.15 |
£ 250 |
| U$ 666.30 |
£ 500 |
| U$ 1,333 |
£ 1,000 |
| U$ 2,665 |
£ 2,000 |
| U$ 6,663 |
£ 5,000 |
| U$ 13,326 |
£ 10,000 |
| U$ 66,630 |
£ 50,000 |
| U$ 133,260 |
£ 100,000 |
| More amounts |
Travel, Currency and Money saving tips for Jersey
The main currency of Jersey is the pound, although in many places the euro is accepted because of the location of the island. Pound coins are issued, but are much less widely used than pound notes.
In July 2014, the Jersey Financial Services Commission approved the establishment of the world's first regulated Bitcoin fund, at a time when the digital currency was being accepted by some local businesses
Travel money for Jersey
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.
Send Money to Jersey - Best Rates
When searching around for information on how to get a good exchange rate when sending money to Jersey you need to start with finding out the latest Pound Sterling exchange rate for foreign transfers also called International Money Transfers (IMTs), which can be very different to the wholesale rate and also to currency exchange rates.
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.
Get a better deal for foreign transfers to Jersey
When sending money to Jersey 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 :
- Open an account with a BER reviewed FX provider (id docs may be required)
- You specify the local or Pound Sterling amount you want to transfer
- Make a local currency domestic transfer for the requested amount to the provider's bank account in your country
- Once your funds are received by the provider the converted GBP amount will be transfered to the recipient account you specify in Jersey.
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!
