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GBP to USD - Rate Guide

British Pound Sterling to United States Dollar exchange rates aren't all the same.

The total cost you are charged by your bank or foreign exchange provider consists of a margin from the interbank mid-rate plus fees. These margins and fees vary significantly for International Money Transfers and Travel Money transactions as shown below.

 

GBP/USD update & alerts

1 GBP = 1.3088 USD

Sell GBP - Buy USD  Invert

GBP to USD - Trading Range (90 Day)
14-DAY LOW (4d)
GBP/USD at 1.3122 is trading 1% above the 90-day average 1.2988 with a range 1.2607 to 1.3346. There are no current rate alerts.
23-Jan-2020 16:NY 21:LON 08:SYD+1d

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GBP/USD Exchange Rates and Providers Compared

This guide to the British Pound Sterling to United States Dollar exchange rate with 90-day chart & alerts, historic rates, forecasts and GBP to USD comparison tables for foreign transfers and travel money rates and fees on offer by banks and foreign exchange providers. If you want to calculate equivalent amounts in foreign currencies or rate margins then use our GBP/USD Quick Calculator.

Exchange rates can vary significantly depending on the transaction type (transfer, cash or card), currency pair and amount. The below table shows an example of total costs charged by FX specialists and banks for GBP/USD International Money Transfers. Costs are calculated against the current interbank mid-rate.

 
  

GBP to USD International Money Transfers

  

Foreign Transfer ProvidersReceive USD(U$)Exchange RateFee GBPTotal CostDeal Links
WorldFirst logo
U$6,528.5
Best Overall
1.305700.5%
TorFX logo
U$6,465
U$63 less
1.29301.47%
OFX logo
U$6,509
U$19 less
1.3018£0^0.8%
HSBC logo
U$6,335.48
U$193 less
1.269£7.53.44%
Natwest Bank logo
U$6,300.04
U$228 less
1.2638153.98%
Citibank International Money Transfers
Citibank logo
U$6,271.41
U$257 less
1.2573124.42%
Banks - Average Rate
Lloyds TSB logo Santander logo Citibank logo Natwest Bank logo HSBC logo
U$6,270
U$258 less
1.2578154.44%
Santander International Money Transfers
Santander logo
U$6,235.46
U$293 less
1.2521204.97%
Lloyds TSB logo
U$6,209.56
U$319 less
1.2469205.36%
 
WorldFirst logo
WorldFirst: Foreign Transfer GBP→USD
From Amount (GBP)£5,000
Fee:
Exchange Rate:1.3057 (0.5% from mid-rate)
To Amount (USD) U$6,528.5
Total Cost:0.5%
Time:6:01 Local
Transfer Speed:1-2 days
Services:Bank Transfers - Online & Phone, Foreign Currency Accounts
Rating:
 
: 4.6/5.0
Reviews:
 
TorFX logo
TorFX: Foreign Transfer GBP→USD
From Amount (GBP)£5,000
Fee:
Exchange Rate:1.2930 (1.47% from mid-rate)
To Amount (USD) U$6,465
Total Cost:1.47%
Difference:
U$63 USD less than using WorldFirst
Time:6:01 Local
Transfer Speed:1-2 days
Services:Bank Transfers - Online & Phone
Rating:
 
: 4.7/5.0
Reviews:
 
OFX logo
OFX: Foreign Transfer GBP→USD
From Amount (GBP)£5,000
Fee:£0^ - No fees for BestExchangeRates users (normally 7GBP for smaller transfers)
Exchange Rate:1.3018 (0.8% from mid-rate)
To Amount (USD) U$6,509
Total Cost:0.8%
Difference:
U$19 USD less than using WorldFirst
Time:
Rate Fetched: 6:01 Local
Transfer Speed:1-2 days
Services:Bank Transfers - Online & Phone, Foreign Currency Accounts
Rating:
 
: 4.8/5.0
Reviews:
 
HSBC logo
HSBC: Foreign Transfer GBP→USD
From Amount (GBP)£5,000
Fee:£7.5 GBP (.15%)
Exchange Rate:1.2690 (3.3% from mid-rate)
To Amount (USD) U$6,335.48
Total Cost:3.44%
Difference:
U$193 USD less than using WorldFirst
Time:6:01 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 
Natwest Bank logo
Natwest Bank: Foreign Transfer GBP→USD
From Amount (GBP)£5,000
Fee:15
Exchange Rate:1.2638 (3.7% from mid-rate)
To Amount (USD) U$6,300.04
Total Cost:3.98%
Difference:
U$228 USD less than using WorldFirst
Time:6:01 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
 
: 1/5.0
Reviews:
 
Citibank logo
Citibank: Foreign Transfer GBP→USD
From Amount (GBP)£5,000
Fee:12
Exchange Rate:1.2573 (4.19% from mid-rate)
To Amount (USD) U$6,271.41
Total Cost:4.42%
Difference:
U$257 USD less than using WorldFirst
Time:6:01 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 
Banks - Average Rate
Foreign Transfer GBP→USD
From Amount (GBP)£5,000
Fee:15
Exchange Rate:1.2482 (4.88% from mid-rate)
To Amount (USD) U$6,270
Total Cost:4.44%
Difference:
U$258 USD less than using WorldFirst
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
 
Santander logo
Santander: Foreign Transfer GBP→USD
From Amount (GBP)£5,000
Fee:20
Exchange Rate:1.2521 (4.59% from mid-rate)
To Amount (USD) U$6,235.46
Total Cost:4.97%
Difference:
U$293 USD less than using WorldFirst
Time:6:01 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
 
: 2/5.0
Reviews:
 
Lloyds TSB logo
Lloyds TSB: Foreign Transfer GBP→USD
From Amount (GBP)£5,000
Fee:20
Exchange Rate:1.2469 (4.98% from mid-rate)
To Amount (USD) U$6,209.56
Total Cost:5.36%
Difference:
U$319 USD less than using WorldFirst
Time:6:01 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
 
: 1/5.0
Reviews:
 
Snapshot 01/24/2020 - See full table

Example of the margins and possible savings when you order travel money online with a currency specialist rather than in-person from banks and currency kiosks.


GBP to USD Forecasts

Brexit continues to dominate GBP markets and forecasts, with "no deal" likely to induce exchange rates near $1.10; a deal will bring rates closer to $1.50.  Read more

GBPUSD blended flags

GBP and USD in the Markets

When determining the best time to make a foreign exchange transaction, in this case the GBP vs USD, you should pay attention to the recent market trends for both currencies.

British Pound Sterling (GBP)

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 GBP forecasts and predictions read our British Pound Forecasts summary.

Read more in the article GBP Forecasts.

 

United States Dollar (USD)

The US dollar held its value in 2019 despite a serious escalation in US-China trade tensions, mainly because the greenback is still considered a safer currency to own than most others.

At its October meeting the Federal Reserve cut the target range for the federal funds rate to 1.5-1.75 percent, the third rate cut so far this year, amid soft inflation indicators and general worries about the economy. However the central bank also signaled a pause in the easing cycle.

Taking the blame for the economic downturn is US President Donald Trump, whose trade war policies have set a ball rolling that could wipe $455bn from global output according to the IMF.

For more USD bank forecasts and cross-rate trends read the report USD trends and forecasts.

Read more in the article USD Forecasts.

Why can't I just get the GBP/USD market rate I see online or in the media?

The mid-rate is the rate you will see quoted online or the news. It is actually just the half-way point (hence mid-rate) between the last rate at which the GBP / USD was traded (bought or sold) in the international markets.

All foreign exchange providers charge a fee for providing their service and this fee is usually contained within the exchange rate margin (or difference to the mid-rate). Some providers such as Transferwise will quote you the mid-rate (or close to) and charge a separate percentage fee.

GBPUSD blended flags

Getting a good market rate is mainly about timing however the transaction margin you end up being charged can be considerably reduced by around a few percent (of total amount being exchanged) for travel money and possibly over 5% to 6% when sending money. The exact potential savings depends on the currencies being exchanged and the amount you are transferring and if you are willing to shop around.

Our real-time foreign transfer and travel money/cards comparison calculators make shopping around easy and help you calculate how much you can save.

We help you Compare & Save Money on Exchange Rates.

 

View all GBP Exchange Rates