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    Currency in Jersey – Pound Sterling GBP

    A practical foreign exchange and currency guide to Jersey

     

    What currency is used in Jersey?

    The official currency of Jersey is the Pound Sterling, with symbol £ and currency code GBP.

     

    Things to know about the Pound Sterling


    The British pound Sterling (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.

    The British are more focussed on their currency exchange rate than are the citizens of most other countries, along with perhaps the Australians and Canadians. This is may be due to the open and trading nature of the UK economy and also due to their love of travel to the nearby 'continent' and further afield.

     

    What the Pound Sterling looks like?

     

     

     

    Pound Sterling – Markets & Rates

    1 GBP = 1.1138 USD
    Sell GBP  →  Buy USD
    GBP to USD at 1.1172 is 5.0% below its 90-day average 1.1757 with range 1.0680-1.2255.
    |
      1 USD = 0.8978 GBP
     
    4-DAY+4.6%1d
    90-DAYLOW4d


    The pound hit an all-time low (since decimalization in 1971) in late September of 1.03 against the greenback (1 USD = 0.97 GBP) — reacting to the controversial tax-cutting policies from the new chancellor.

    The outlook for sterling against most currencies over the winter remains extremely challenging in its precarious post-Brexit/Ukraine war economic environment.

     GBP Outlook

    DateGBP/USDChangePeriod
    16 Sep 2022
    1.1415
    2.1% 2 Week
    02 Jul 2022
    1.2105
    7.7% 3 Month
    30 Sep 2021
    1.3470
    17.1% 1 Year
    01 Oct 2017
    1.3396
    16.6% 5 Year
    02 Oct 2012
    1.6152
    30.8% 10 Year
    05 Oct 2002
    1.5674
    28.7% 20 Year
    GBP/USD historic rates & change to 30-Sep-2022

     

     

    Compare Pound Sterling Exchange Rates & Fees

    The below comparison table makes it easy to find the best exchange rates and lowest fees when you want to make a Transfer or Spend Pound Sterling.

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    Travelling to 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

     

    The Pound Sterling is also the domestic currency in 4 other countries.

     

     

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