What's in this Guernsey currency guide?
|Domestic Currency||Pound Sterling|
|Exchange Rate||GBP/USD = 1.2463|
Quick Conversions from Pound Sterling to US Dollar
Guernsey Currency Info
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.
Frequently Asked Questions
What currency should I use in Guernsey?
The domestic currency in Guernsey 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?
Is the Pound Sterling a closed currency?
No, the Pound Sterling is freely available and convertible. See guide: What is a closed currency?
Pound Sterling (GBP) in the markets
With the Bank of England holding interest rates steady amid signs of a recovery in the health of the UK economy following the general election, the pound is showing strength against most currencies early in 2020.
In the post UK election euphoria the pound rose to over 1.33 USD and 1.20 EUR but has since dropped back over the uncertainty of what sort of trade deal the UK can realistically negotiate with Europe over the next 11 months.
GBP has given up all of those election result gains as Mr Johnson pledged to outlaw any extension to the UK’s post-Brexit transition period at the end of next year. It appears the Brexit volatility in the pound is set to continue for the foreseable future.
For more details read the full article Pound Sterling Forecasts.
The interactive chart below shows the GBP to USD exchange rate and trend for the previous 3 months:
Travel, Currency and Money saving tips for Guernsey
The second-largest island in the Channel Islands, Guernsey has gone to great lengths to change its sleepy backwater image, and it's working. Flatter and less dramatic-looking than Jersey, Guernsey has some stunning beaches, particularly along the north coast, rugged cliffs in the south, and a lively, compact capital of St Peter Port.
There's more to Guernsey than offshore banking and cream teas: there are Neolithic graves, Victorian forts and German fortifications to explore, adventure sports such as coasteering and rock climbing are on the rise, the north coast is excellent for watersports, and St Peter Port lures visitors in with its great dining scene. 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.
What currency to use in Guernsey?
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.
How to get around in Guernsey?
Guernsey is largely flat and a pleasure to cycle around. Numerous rural lanes are designated Ruettes Tranquilles, where the speed limit for cars is 15mph and priority is given to cyclists, and there are designated cycle lanes in town and along the coast. You can rent bicycles from outlets in St Peter Port and also along Guernsey's north coast.
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.
Main international car rental outlets have branches at the airport, as does the local Value Rent a Car. Scooters and motorcycles can be rented in St Peter Port. Speed limits on Guernsey vary from 12 to 15mph in town to 25 to 35mph elsewhere. There are many narrow county lanes with passing places and blind corners. In fine weather, motorbiking or scootering around Guernsey is hugely enjoyable, plus parking is easier.
Travel tips for Guernsey.
Along with traditional beach pursuits such as swimming, windsurfing and rock-pooling, there has been a growth in adrenalin-fuelled activities such as sunset abseiling, cliff face rock-climbing or coasteering explorations. In an effort to draw more tourists, Guernsey has been attempting to change its traditional image as a somewhat sedate, sleepy backwater, best known for offshore finance and Guernsey cream teas. In the unlikely event you tire of the coast, Guernsey has monuments ranging from eerie Neolithic tombs to Napoleonic towers and World War II bunkers and tunnels − potent reminders that the Channel Islands were the only the parts of the British Isles occupied by German forces.
Guernsey may be the most densely populated of the Channel Islands but it retains quaint rural lanes, fine sandy beaches and miles of spectacular cliffs in the south. The island has one of the largest tidal movements in the world, with waters retreating twice a day to reveal large expanses of golden sands and lunar-like seascapes, pierced with rocks and reefs.
Tasty Walks is a series of 20 self-guided walks which make the most of the very best the island has to offer - its stunning scenery and fabulous food. Whether it's the rugged south coast cliff paths, the long sweeping bays of the west or uncovering the historic past of the island's capital, the island has much to offer in just 25 square miles.
Travel money for Guernsey
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.
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 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).
Get a better deal for foreign transfers 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 :
- 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 Guernsey.
Use our 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!