Bank of England
The Bank of England (BoE) is the central bank of the United Kingdom. The role of central banks is to preserve the value of money by keeping inflation low and stable. They do this by controlling the interest rate at which banks can borrow.
Interest rates, inflation, and exchange rates are all intrinsically linked. When the BoE manipulates interest rates this impacts both the inflation in the UK and also the relative value of the British pound compared to other currencies.
BoE Recent Interest Rate Decisions:
The BoE raised interest rates by 0.75 percentage points to 3 per cent early November, and forecast that the UK will enter a 3-year recession by the end of the year.
Read our guide to the Relationship between Interest Rates and Currencies.
Exchange rates published by Central Banks such as the Bank of England are the latest interbank mid-market exchange rates, here are some of the most popular GBP exchange rates:
Pound Sterling to US dollar
Pound Sterling to Euro
Pound Sterling to Australian dollar
Pound Sterling to Indian rupee
Pound Sterling to Turkish lira
Pound Sterling to United Arab Emirates dirham
Pound Sterling to Canadian dollar
Pound Sterling to New Zealand dollar
Pound Sterling to Malaysian ringgit
Pound Sterling to South African rand
You Can Save Money when you Compare Bank of England Exchange Rate Margins & Fees
The below comparison table makes it easy to calculate the Total Cost you are being charged on your currency transaction versus Bank of England market mid-rates. It is easy to calculate any savings available from popular market-leading FX providers.
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