General Currency Info - Pound Sterling
The British pound (ISO: GBP) is one base unit of sterling ā that being the name of Britain's currency ā and is subdivided into 100 pence.
Contributing to around 13% of all foreign exchange deals, the pound, or sterling, is the worldās 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 āsterlingsā, 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 sterlingās valuation was the UKās vote to leave the European Union on June 24th 2016 ā a day on which the exchange rate for GBP/USD fell by as much as 11%.
In the past two decades, the poundās 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 āBrexitā 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.
GBP News, Forecasts and Trends
Forecasts
The coronavirus pandemic had replaced Brexit in the headlines for most of last year. In 2021 the pound has held its value while markets sort through the aftermath of Brexit.
British Pound Forecasts 2021
For more GBP currency market forecasts you can read the full article Pound Sterling Forecasts.
US Dollar to Pound Sterling - Historical Rates
USD/GBP | Change | Period |
---|
0.7179 01 Mar 2021 | 0.8% ā² | 1 Week |
0.7280 06 Feb 2021 | 0.6% ā¼ | 30 Days |
0.7482 08 Dec 2020 | 3.3% ā¼ | 90 Days |
0.7636 08 Mar 2020 | 5.3% ā¼ | 1 Year |
0.7035 09 Mar 2016 | 2.8% ā² | 5 Years |
0.6237 11 Mar 2011 | 16% ā² | 10 Years |
USD/GBP 10 year historic rates & change to 08-Mar-2021 : 0.7235
$10,000 USD
=
£7,213 GBP
Converted at USD/GBP interbank rate,
compare
Send Money
and
Currency Exchange
exchange rates.
US Dollar to Pound Sterling - Quick Convert
USD |
GBP |
$ 1 |
£ 0.7213 |
$ 5 |
£ 3.6065 |
$ 10 |
£ 7.2130 |
$ 20 |
£ 14.43 |
$ 50 |
£ 36.07 |
$ 100 |
£ 72.13 |
$ 250 |
£ 180.33 |
$ 500 |
£ 360.65 |
$ 1,000 |
£ 721.30 |
$ 2,000 |
£ 1,443 |
$ 5,000 |
£ 3,607 |
$ 10,000 |
£ 7,213 |
$ 50,000 |
£ 36,065 |
$ 100,000 |
£ 72,130 |
More amounts |
USD |
GBP |
$ 1.3864 |
£ 1 |
$ 6.9320 |
£ 5 |
$ 13.86 |
£ 10 |
$ 27.73 |
£ 20 |
$ 69.32 |
£ 50 |
$ 138.64 |
£ 100 |
$ 346.60 |
£ 250 |
$ 693.20 |
£ 500 |
$ 1,386 |
£ 1,000 |
$ 2,773 |
£ 2,000 |
$ 6,932 |
£ 5,000 |
$ 13,864 |
£ 10,000 |
$ 69,320 |
£ 50,000 |
$ 138,640 |
£ 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 āOverseas Transaction Chargeā plus āOverseas ATMā 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
To get a good (and fair) exchange rate when sending money to Jersey you need to find and compare exchange rates for International Money Transfers (IMTs).
The available FX rates for sending money abroad can be very different to the mid-market (wholesale) rate which you see reported online and in the News.
You should especially compare your own bank's exchange rates to those available from Money Transfer specialists 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 itās important to compare your bankās 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!