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For over a decade BestExchangeRates.com has been a trusted voice in foreign exchange in the United Kingdom and globally.
BestExchangeRates compares exchange rates from popular banks and currency specialists to help you avoid hidden and excessive margins and fees when you send and spend abroad.
We help our users save money by making these fees and exchange rates transparent and easier to compare. With our foreign transfer and currency exchange tools, you can quickly find the cheapest and most convenient way to convert your money.
More than 3 million satisfied visitors have saved over $200M on foreign exchange.
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Track GBP rates – transact when market in your favour. Follow FX forecasts & analysis.
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BestExchangeRates.com keeps you up-to-date on Pound Sterling forecasts by collating the views of reliable FX forecasters and economists together with recent 90-day GBP price data. This analysis covers a wide range of factors including economic indicators, geopolitical events, central bank policies, and technical analysis to provide a thorough and current outlook on currency trends.
According to recent forecasts and market updates from analysts, the GBP currency has been facing downward pressure against major counterparts. Both HSBC and Barclays, two major British banks, have signaled a turning point for the Pound, with the US dollar's strength appearing unstoppable. HSBC had previously been bullish on the GBP and EUR currencies since November 2022 but now expects a reversion lower in the coming months. They highlight that consumer confidence in the UK and Eurozone has taken a downturn, which often precedes macroeconomic underperformance.
The GBP has been highly influenced by the UK's decision to leave the European Union (Brexit). Ongoing post-Brexit negotiations and the economic impact of the UK's departure have caused significant fluctuations in sterling exchange rates. Recent price data shows that the GBP to USD pair is at 90-day lows near 1.2263, 3.5% below its 3-month average. Additionally, the GBP to EUR pair is at 90-day lows near 1.1523, 1.0% below its 3-month average, while the GBP to JPY pair is at 30-day lows near 181.3, just 0.9% below its 3-month average.
Sending money abroad can be an expensive business, more so if you aren’t even aware of all the hidden fees. Money transfer companies and banks profit by charging you fees and a normally hidden margin on the exchange rate.
Using your Bank to make international wire transfers can be very expensive – often 5% to 6% worse than using a foreign exchange specialist to send money abroad or pay a foreign invoice.
Popular GBP Money Transfers on BER
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Looking for a way to make your next trip more affordable? Check out our Country Guides to the best deals for your international foreign transfers and travel money. These articles will give you travel tips and offer advice for your next trip abroad.
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