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    United Kingdom - Pound Sterling - Currency Guide

     

    Foreign exchange guide to the United Kingdom and the Pound Sterling (GBP)

         

    USD/GBP Trend (90-day)

    USD to GBP at 0.7262 is near its 90-day average, range 0.7163-0.7448.
    |
    1-DAY-0.6%
    30-DAYLOW
     

    The below interactive chart displays the USD/GBP trend and UP DOWN HIGH LOW alerts

     
    USD to GBP Currency Trend Chart

    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.

    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 Forecasts and Trends

    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 and against the euro between 1.14 – 1.18 EUR.

    GBP Outlook

    US dollar to Pound Sterling - Historical Rates

    USD/GBP wasChangePeriod
    0.7339
    05 Oct 2021
    1.2% 2 Weeks
    0.7293
    21 Jul 2021
    0.6% 90 Days
    0.7723
    19 Oct 2020
    6.1% 1 Year
    0.8159
    20 Oct 2016
    11.1% 5 Years
    0.6278
    22 Oct 2011
    15.5% 10 Years
    0.7010
    24 Oct 2001
    3.4% 20 Years
    USD/GBP change over periods to 19-Oct-2021
     

    $10,000 USD
    =
    £7,268 GBP

    Converted at USD/GBP interbank rate, compare Send Money and Currency Exchange exchange rates.

    USD to GBP - Quick Amounts

    Sell USD   →   Buy GBP
    USD GBP
    $ 1 £ 0.7268
    $ 5 £ 3.6340
    $ 10 £ 7.2680
    $ 20 £ 14.54
    $ 50 £ 36.34
    $ 100 £ 72.68
    $ 250 £ 181.70
    $ 500 £ 363.40
    $ 1,000 £ 726.80
    $ 2,000 £ 1,454
    $ 5,000 £ 3,634
    $ 10,000 £ 7,268
    $ 20,000 £ 14,536
    $ 50,000 £ 36,340
    $ 100,000 £ 72,680
    USD GBP
    $ 1.3759 £ 1
    $ 6.8795 £ 5
    $ 13.76 £ 10
    $ 27.52 £ 20
    $ 68.80 £ 50
    $ 137.59 £ 100
    $ 343.98 £ 250
    $ 687.95 £ 500
    $ 1,376 £ 1,000
    $ 2,752 £ 2,000
    $ 6,880 £ 5,000
    $ 13,759 £ 10,000
    $ 27,518 £ 20,000
    $ 68,795 £ 50,000
    $ 137,590 £ 100,000

    More amounts

     

    Frequently Asked Questions

     

    What currency should I use in the United Kingdom?

    The domestic currency in the United Kingdom 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?

     

    Travel, Currency and Money saving tips for the United Kingdom

    England is still one of the most popular tourist destinations in the world. Be sure to get out of London as England's smaller cities and beautiful country villages are fascinating and boast a robust culture. England is not known as a budget location and if you don't keep an eye on your budget it can be expensive.

    ATMs are everywhere and all major credit cards are accepted  though you could purchase a Prepaid Travel Card if you prefer not to carry your credit card with you all the time while travelling.

    In the United Kingdom, the National Rail service is known to always expensive, no matter how long your trip is. Depending how worried you are about your budget, by booking your ticket with the National Rail over a week in advance and during off peak hours, you can secure you tickets for for up to 50% less.

    There are plenty of spots to visit in the UK. For major cities you have Manchester, Liverpool, Bath, Oxford and more. In Scotland you have the gorgeous Edinburgh and the more modern Glasgow, plus plenty of stunning countryside. In Northern Ireland there is Belfast plus the beautiful countryside and towns.

    These days there are plenty of cheaps flights to get around in the United Kingdom with little effort and these are well worth taking advantage of, though you may like to take a ferry to get around between the islands. The ferries are usually pretty industrial and not overly romantic, but some might like to take a trip via water.

    Is the Euro accepted in the UK?

    The United Kingdom does not use the euro as an official currency however you may find some shops in the cities and larger towns or airports that will accept the Euro but watch out for the EUR/GBP exchange rates they offer.

     

    Travel money for the United Kingdom

    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 the United Kingdom - Best Rates

    To get a good (and fair) exchange rate when sending money to the United Kingdom 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 United Kingdom

    When sending money to the United Kingdom 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 :

    1. Open an account with a BER reviewed FX provider (id docs may be required)
    2. You specify the local or Pound Sterling amount you want to transfer
    3. Make a local currency domestic transfer for the requested amount to the provider's bank account in your country
    4. Once your funds are received by the provider the converted GBP amount will be transfered to the recipient account you specify in the United Kingdom.

    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!


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