United Kingdom - Pound Sterling - Currency Guide

This is a currency guide to the United Kingdom, the Pound Sterling currency plus sending (GBP) transfers and travel tips for the United Kingdom.

 
 
CountryUnited Kingdom
FlagUnited Kingdom
Country CodeGB
Domestic Currency Pound Sterling
Currency Symbol£
Currency CodeGBP
Exchange RateGBP/USD = 1.2461
Telephone Prefix+44

Quick Conversions from Pound Sterling to US Dollar

GBP

USD

£ 1
U$ 1.2461
£ 5
U$ 6.2305
£ 10
U$ 12.46
£ 20
U$ 24.92
£ 50
U$ 62.31
£ 100
U$ 124.61
£ 250
U$ 311.53
£ 500
U$ 623.05
£ 1,000
U$ 1,246
£ 2,000
U$ 2,492
£ 5,000
U$ 6,231
£ 10,000
U$ 12,461
£ 50,000
U$ 62,305
£ 100,000
U$ 124,610
More amounts

GBP

USD

£ 0.8025
U$ 1
£ 4.0125
U$ 5
£ 8.0250
U$ 10
£ 16.05
U$ 20
£ 40.13
U$ 50
£ 80.25
U$ 100
£ 200.63
U$ 250
£ 401.25
U$ 500
£ 802.50
U$ 1,000
£ 1,605
U$ 2,000
£ 4,013
U$ 5,000
£ 8,025
U$ 10,000
£ 40,125
U$ 50,000
£ 80,250
U$ 100,000
More amounts

To calculate specific GBP/USD amounts use our Convert GBP to USD quick calculator. To read more about the latest exchange rate trends and to compare FX provider rates view GBP to USD Rate Guide.

United Kingdom 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 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?


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:

ALERTS:4-DAY1.9% 🔔| 14-DAY HIGHS 🔔 |
GBP/USD at 1.246 was trading 2.4% below AVG:1.2769 with LO:1.1467 and HI:1.3249 (90 days). ALERTS: GBP/USD was UP 1.9% this 4-DAY period and also rose to 14-DAY HIGHS.
09-APR 10PM-NY 10-APR 3AM-LON 10AM-HK 12PM-SYD
Booking.com

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.

For more travel tips and ideas on ways to save money when traveling in the United Kingdom read our UK Travel guide.

Is the Euro accepted in the UK?

The United Kingdom does not currently use the euro as its currency and it is extremely unlikely to replace the pound in the near future. You may find some shops 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.

 

the United Kingdom Trip Checklist    

 
  1. Compare GBP travel cash rates - probably why you are here!
  2. Search Hotel deals - Save on your accomodation in the United Kingdom
  3. Book Flights
  4. Travel insurance - for those unexpected travel adventures!
  5. Lonely Planet - world's best travel guide (coupon and deals)

Sending money to the United Kingdom

When searching around for information on how to get a good exchange rate when sending money to the United Kingdom 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 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 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!

 

Bank Transfers to the United Kingdom

Compare Transfer Rates

Pound Sterling to US Dollar - Historical Rates

PeriodChange*GBP/USDDate
1 Day+0.6%1.239108 Apr 2020
7 Day+0.6%1.239202 Apr 2020
30 Day-3.4%1.290610 Mar 2020
3 Month-4.6%1.306510 Jan 2020
1 Year-4.8%1.309810 Apr 2019
5 Year-14.8%1.463211 Apr 2015
10 Year-18.9%1.537612 Apr 2010

*For period to 09-Apr 21UTC when GBP/USD was 1.2468

Pound Sterling to Euro - Historical Rates

PeriodChange*GBP/EURDate
7 Day-0.2%1.142502 Apr 2020
30 Day0%1.140710 Mar 2020
3 Month-2.9%1.174810 Jan 2020
1 Year-1.8%1.161610 Apr 2019
5 Year-17.4%1.380411 Apr 2015
10 Year+0.8%1.131912 Apr 2010

*For period to 09-Apr 21UTC when GBP/EUR was 1.1407

Pound Sterling to Australian Dollar - Historical Rates

PeriodChange*GBP/AUDDate
1 Day-1%1.987808 Apr 2020
7 Day-3.7%2.043102 Apr 2020
30 Day-1%1.987310 Mar 2020
3 Month+3.9%1.893110 Jan 2020
1 Year+7.6%1.827710 Apr 2019
5 Year+3.3%1.904611 Apr 2015
10 Year+18.8%1.655912 Apr 2010

*For period to 09-Apr 21UTC when GBP/AUD was 1.9674


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