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Foreign Exchange Guide to Guernsey

Latest market mid-rate: 1.0 =

Country Code:
GG
Domestic Currency:
British pound sterling
Symbol - Code:
£ GBP
Telephone Prefix:
+441481

The domestic currency in Guernsey is the British pound sterling with currency code GBP. Read this foreign exchange guide to Guernsey and the British pound sterling with money transfer and travel tips plus British pound sterling exchange cross rates.

In this guide we review :

  1. British pound sterling info - general info about the British pound sterling
  2. British pound sterling in the markets - recent GBP moves and predictions from the FX markets
  3. Travelling in Guernsey - currency & money saving tips
  4. Buying British pound sterling cash online - travel money for Guernsey
  5. Sending money to Guernsey - save on British pound sterling bank transfers to Guernsey
  6. British pound sterling exchange rates - latest & historic exchange rates.

British pound sterling (GBP) general currency information

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.

What is the British pound sterling currency code and symbol?

The three letter currency code for the British pound sterling is GBP and the symbol is £.

Which countries use the British pound sterling?

It is the domestic currency in United Kingdom, Guernsey, Isle of Man, Jersey and South Georgia And South Sandwich Islands.


British pound sterling (GBP) in the markets

The pound will buy 1.41 dollars in the second half of 2019, according to the median estimate of 50 FX analysts polled by Reuters in June – a rate 5 percent higher than those at the time of writing (June 8th) near 1.34 dollars.

If the forecast proves accurate, this would mean that by the time Britain leaves the European Union next March, it will have recouped most of its post-Brexit losses. Britain’s currency averaged 1.45 dollars in the six-months leading up to the EU referendum in June 2016.

Results from the Reuters poll suggest that most analysts expect Britain to achieve a good divorce deal with the EU.

However, expectations are lower than they once were. In April, when a rate hike by the Bank of England seemed imminent, the twelve-month median forecast of analysts stood at 1.44. Expectations for a rate hike were shattered (now expected in August) after BoE Governor Mark Carney gave dovish remarks to the BBC and after a string of disappointing economic data, including quarterly UK economic growth at just 0.1 percent – a five-year low.

Against the euro, sterling was little changed between September ‘17 and June ’18 (it was marginally higher), at levels close to 1.14 euros.

The interactive chart below shows the GBP to USD exchange rate for the previous 3 months with rate alerts for days when the exchange rate moved up or down significantly or for 30 day highs and lows.


GBP-USD 3 Month chart
GBP-USD 3 Month chart
GBP currency converter

Travel, Currency and Money saving tips for Guernsey

Like the rest of the Channel Islands, it is not part of the UK, but nonetheless it feels resolutely British. Yet due to its proximity to France and its quirky laws and customs it has a very unique feel to it.

UK currency can be used in Guernsey, but Guernsey's own notes and coins are not accepted outside of Guernsey so make sure you change your currency before leaving. Each ATM will state whether it dispenses British or Guernsey pounds, so if you pay attention you can avoid picking up much local currency if you want to avoid that There are plentiful ATM machines in St Peter Port and at banks in outlying parishes. No VAT is charged on Guernsey.The bus network covers all the island's parishes and major attractions. A Guernsey sightseeing route, The Guernsey Vaeux (numbers 91, 92, 93), goes all the way around the island, allowing visitors to get off at various attractions. The flat fare is £2 for all journeys of any distance on all routes; children three and under go free, older children pay the flat rate. There is also a range of travel passes: from £4.50 for a one-day pass, to £38 for a seven-day family pass, good for two adults and up to three children.

Guernsey Trip Checklist   

  1. Compare GBP travel cash rates - probably why you are here!
  2. Lonely Planet - world's best travel guide (coupon and deals)

Travel money for Guernsey

Save money and time by Ordering your British pound 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 British pound sterling otherwise you may get much worst exchange rates.

Travel Money Exchange Rates Compared

Buying GBP Cash with USD 1,000

Travelex Online logo Travelex Online
1USD=0.6989GBP
£698.90 GBP (7.3%)
Free Home Delivery when you Buy Online Travel Money & Cards with $0 commission and great exchange rates only available from Travelex Online. Zero cost for Home Delivery or pickup your foreign cash at your local Travelex store or at the airport on departure day. * Home deliveries can only be made to the registered billing address of your chosen payment method.
Price Details
Receive: £698.90 GBP
Exchange Rate: 0.6989
(Inverse 1GBP=USD 1.4308)
Fees: USD 0
Total Cost : 7.3% (from mid-rate: 0.7539)
Amount of money that could be received by your currency exchange at rate USD/GBP=0.6989 and inclusive of the fee of USD 0.
Rate timestamp : Sat Jun 23 2018 23:00:03 GMT+0000 (UTC)
Bank Rates - Average
1USD=0.6597GBP
£653.10 GBP (13.37%)
This is the average USD to GBP Buy Foreign Cash exchange rate from multiple banks, exchange kiosks and post-offices, available over the counter and via the internet.

 
Price Details
Receive: £653.10 GBP
Exchange Rate: 0.6597
(Inverse 1GBP=USD 1.5158)
Fees: USD 10 (1%)
Total Cost : 13.37% (from mid-rate: 0.7539)
Receive GBP £46 less than with  Travelex Online logo Travelex Online
Amount of money that could be received by your currency exchange at rate USD/GBP=0.6597 and inclusive of the fee of USD 10 (1%).
 

Sending money to Guernsey

When searching around for information on how to get a good exchange rate when sending money to Guernsey you need to start with finding out the latest British pound sterling foreign-transfer exchange rate.

Then compare your bank's exchange rates to several licensed FX providers exchange rate and fees to see how much you can save (we make that calculation easy here).

Getting a better deal when sending money to Guernsey

When sending money to Guernsey 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 British 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 Guernsey.

Use our Send to GBP 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 British pound sterling deposited into the recipient bank account and less margins and fees kept by the banks!

 
Sending a LARGER international money transfer? Request a Free Multi-Vendor Quote

Compare Foreign Transfers

Sending USD 10,000 to GBP

OFX logo OFX (prev. USForex)
1USD=0.7459GBP
£7459.00 GBP (1.06%)
Book & track your foreign transfers online (24/7) with industry best rates for all your deals - not just the first one! Lock in exchange rates with Spot & Forward Deals. BestExchangeRates users get the transfer fees waived.
Price Details
Receive: £7459.00 GBP
Exchange Rate: 0.7459
(Inverse 1GBP=USD 1.3407)
Fees: USD 0
Total Cost : 1.06% (from mid-rate: 0.7539)
This is the amount of money that could be received by your transfer at rate USD/GBP=0.7459 and inclusive of the fee of USD 0.
Rate timestamp : Sat Jun 23 2018 23:03:14 GMT+0000 (UTC)
Bank Rates - Average
1USD=0.7236GBP
£7225.15 GBP (4.16%)
This is the average USD to GBP International Transfer exchange rate and fees from multiple banks for FX rates available over the counter and also via Internet Banking.

 
Price Details
Receive: £7225.15 GBP
Exchange Rate: 0.7236
(Inverse 1GBP=USD 1.3820)
Fees: USD 15
Total Cost : 4.16% (from mid-rate: 0.7539)
Receive GBP £234 less than with  OFX logo OFX
This is the amount of money that could be received by your transfer at rate USD/GBP=0.7236 and inclusive of the fee of USD 15.
 

British pound sterling - exchange rates - live and historic

Major GBP cross rates
View Full List (A-Z)
1GBP=

GBP/USD - British pound sterling to U.S. dollar - 10 Year History

DateExchange RatePeriodChange
23 Jun 20181.3264Latest
16 Jun 20181.32831 Week-0.14%
24 May 20181.33831 Month-0.89%
25 Dec 20171.33746 Months-0.82%
23 Jun 20171.27161 Year+4.31%
23 Jun 20161.49382 Years-11.21%
24 Jun 20131.54215 Years-13.99%
25 Jun 20081.970610 Years-32.69%

GBP/EUR - British pound sterling to Euro - 10 Year History

DateExchange RatePeriodChange
23 Jun 20181.1369Latest
16 Jun 20181.14311 Week-0.54%
24 May 20181.14171 Month-0.42%
25 Dec 20171.12666 Months+0.91%
23 Jun 20171.13601 Year+0.08%
23 Jun 20161.31202 Years-13.35%
24 Jun 20131.17545 Years-3.28%
25 Jun 20081.261410 Years-9.87%

GBP/JPY - British pound sterling to Japanese yen - 10 Year History

DateExchange RatePeriodChange
23 Jun 2018145.8530Latest
16 Jun 2018147.00901 Week-0.79%
24 May 2018146.29281 Month-0.3%
25 Dec 2017151.54426 Months-3.76%
23 Jun 2017141.50801 Year+3.07%
23 Jun 2016158.25812 Years-7.84%
24 Jun 2013150.81055 Years-3.29%
25 Jun 2008212.871010 Years-31.48%

GBP/AUD - British pound sterling to Australian dollar - 10 Year History

DateExchange RatePeriodChange
23 Jun 20181.7823Latest
16 Jun 20181.78391 Week-0.09%
24 May 20181.76771 Month+0.83%
25 Dec 20171.73176 Months+2.92%
23 Jun 20171.67991 Year+6.1%
23 Jun 20161.96382 Years-9.24%
24 Jun 20131.67015 Years+6.72%
25 Jun 20082.060010 Years-13.48%

GBP/CAD - British pound sterling to Canadian dollar - 10 Year History

DateExchange RatePeriodChange
23 Jun 20181.7610Latest
16 Jun 20181.75411 Week+0.39%
24 May 20181.72461 Month+2.11%
25 Dec 20171.70076 Months+3.55%
23 Jun 20171.68641 Year+4.42%
23 Jun 20161.90822 Years-7.71%
24 Jun 20131.61895 Years+8.78%
25 Jun 20081.993210 Years-11.65%

British pound sterling News