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    Currency in the South Georgia and South Sandwich Islands – Pound Sterling GBP

    A practical foreign exchange and currency guide on sending money and travel to the South Georgia and South Sandwich Islands

     

     

    Travelling to the South Georgia and South Sandwich Islands

    South Georgia is one of the most visited locations in Antarctica. It is spectacularly picturesque and is frequently described as being “The Alps in the mid-ocean”. Over half the island is permanently glaciated, wildlife is abundant, approach by sea is usually straightforward and it is steeped in the history of Antarctic exploration and the stories and relics of Antarctic whalers and sealers.

    The South Sandwich Islands on the other hand are isolated and are not often visited other than by survey ships on scientific excursions. The prevailing weather conditions usually make the approach difficult, they rise very steeply out of the sea and are subject to active volcanism. The only access to South Georgia or the South Sandwich Islands is by sea, there are no flights.There is a small gift shop at Grytviken which will accept Falkland pounds, British pounds, American dollars and Euros. Water is sold by the tonne. Most large ships visiting the islands will sell basic supplies (razors, shampoo, hats, snacks), but otherwise it is unlikely you will have any use for whatever money you bring with you. As a British territory with such a small population and being as remote as it is, English is spoken by everyone. Grytviken is the one place on South Georgia still occupied today by the scientists and crew of the British Antarctic Survey. The name Grytviken means ‘Pot Cove’ after the sealers trypots, used for recovering the blubber from seals which were found there. It is the best harbour on the island, being a bay within a bay.

    Sending Money to the South Georgia and South Sandwich Islands

    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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    Pound Sterling – Markets & Rates

    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.

    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.

     

    1 GBP = 1.3234 USD
    Sell GBP  →  Buy USD
    GBP to USD at 1.3236 has fallen 2.7% below its 90-day average, range 1.3236-1.3865.
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      1 USD = 0.7556 GBP
     
    1-DAY-0.5%
    90-DAYLOW

    Pound Sterling Forecast and Trend

    The pound sunk in September to 1.34 against the greenback but has recovered into October near 1.36 after Boris called the army out to drive the fuel trucks.

    The outlook for the pound for October is very uncertain due to rising inflation, slowing growth and unemployment, the combination of which could create a nightmare scenario for the Bank of England Monetary Policy Committee.

    OFX predict the GBP could range between 1.33 – 1.38 USD in October.

    GBP-USD Outlook

    Historic GBP-USD Rates

    GBP/USD wasChangePeriod
    1.3445
    19 Nov 2021
    1.6% 2 Weeks
    1.3865
    04 Sep 2021
    4.5% 90 Days
    1.3451
    03 Dec 2020
    1.6% 1 Year
    1.2648
    04 Dec 2016
    4.6% 5 Years
    1.5608
    06 Dec 2011
    15.2% 10 Years
    1.4304
    08 Dec 2001
    7.5% 20 Years
    GBP/USD change over periods to 03-Dec-2021

     

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

     

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