Currency in the South Georgia and South Sandwich Islands GBP - Things to know
Foreign exchange guide to the South Georgia and South Sandwich Islands and the Pound Sterling
What's in this South Georgia and South Sandwich Islands currency guide?
What currency is used in the South Georgia and South Sandwich Islands?
The official currency of the South Georgia and South Sandwich Islands (country code: GS) is the Pound Sterling, with symbol £ and currency code GBP.
Things to know about the Pound Sterling
The British pound Sterling is the official currency of the United Kingdom. It is represented by the symbol "£" and is abbreviated as GBP (Great Britain Pound).
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 (at the time of the euro's introduction in 1999), Britain could have adopted the euro as its currency, 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 2022, when GBP/USD reached 1.11.
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.
The pound Sterling banknotes and coins
The physical currency consists of coins and banknotes. The coins come in denominations of 1 pence (p), 2 pence (p), 5 pence (p), 10 pence (p), 20 pence (p), 50 pence (p), and £1 and £2.
The banknotes come in denominations of £5, £10, £20, and £50. The banknotes feature images of famous British historical figures, such as Queen Elizabeth II, William Shakespeare, and Jane Austen. The design of the currency is constantly being updated, so the physical appearance of the coins and banknotes may vary slightly over time.
Travel money for the South Georgia and South Sandwich Islands
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.
Travel Ideas and Money Tips for the South Georgia and South Sandwich Islands
South Georgia and the South Sandwich Islands are a British Overseas Territory located in the South Atlantic Ocean. The islands are uninhabited, except for a small number of scientists and support staff who are based there during the summer months. The main economic activities on the islands are fishing, tourism, and the sale of stamps and coins.
South Georgia is known for its rugged and remote landscapes, including mountains and glaciers, as well as its rich wildlife, including penguins, seals, and whales. It's a popular destination for cruise ships and adventure tourists, who come to see the wildlife, and to visit historical sites, such as the grave of the explorer Ernest Shackleton.
The South Sandwich Islands, on the other hand, are volcanic islands that are less accessible and less visited. They are uninhabited and have a harsh climate, with strong winds, heavy rain, and frequent volcanic eruptions.
Both islands have a unique flora and fauna, and are important for scientific research in fields such as biology, geology, and meteorology. They are also home to several protected areas, including South Georgia Island Marine Protected Area and South Georgia Heritage Trust.
It's worth noting that traveling to South Georgia and the South Sandwich Islands can be difficult and expensive, as the islands are remote and only accessible by ship. Visitors must have a valid permit and must also hire a licensed guide, as the islands are protected areas.
Overall, South Georgia and the South Sandwich Islands are a remote and unique destination, known for its rugged and remote landscapes, rich wildlife, and scientific importance. Visitors must be prepared for the harsh conditions and the high costs associated with traveling to these islands.
GBP/USD Market Data
The below interactive chart displays the GBP/USD trend and UP▲ DOWN▼ HIGH▲ LOW▼ alerts
Frequently Asked Questions
What currency should I use in the South Georgia and South Sandwich Islands?
The domestic currency in the South Georgia and South Sandwich Islands 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?
What are equivalent amounts of USD and GBP?
Converted at USD/GBP interbank rate, compare Send Money and Currency Exchange exchange rates.
Send Money to the South Georgia and South Sandwich Islands - Best Rates
To get a good (and fair) exchange rate when sending money to the South Georgia and South Sandwich Islands 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 the South Georgia and South Sandwich Islands
When sending money to the South Georgia and South Sandwich Islands 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 the South Georgia and South Sandwich Islands.
Use the above 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!
