» Welcome to Currency Converter Calculator

British Pound Sterling (GBP) Exchange Rates on 02nd May 2024 (02/05/2024)

Enter the amount you want to convert, select the second currency and hit 'Enter' or click outside the area.

Exchange rates for British Pound Sterling (GBP)

					Updated: 2024-05-02
Convert from	Convert to	1 GBP	Conversion	in currency	Conversion
GBP	GBP	1	GBP to GBP	1	GBP to GBP
GBP	BGN	2.2969	GBP to BGN	0.4354	BGN to GBP
GBP	HRK	8.8726	GBP to HRK	0.1127	HRK to GBP
GBP	CZK	29.3343	GBP to CZK	0.0341	CZK to GBP
GBP	DKK	8.7229	GBP to DKK	0.1146	DKK to GBP
GBP	EEK	0	GBP to EEK	0	EEK to GBP
GBP	HUF	455.7023	GBP to HUF	0.0022	HUF to GBP
GBP	KZT	552.2361	GBP to KZT	0.0018	KZT to GBP
GBP	LVL	0.758	GBP to LVL	1.3192	LVL to GBP
GBP	LTL	0	GBP to LTL	0	LTL to GBP
GBP	MKD	72.0843	GBP to MKD	0.0139	MKD to GBP
GBP	MDL	22.0178	GBP to MDL	0.0454	MDL to GBP
GBP	NOK	13.8213	GBP to NOK	0.0724	NOK to GBP
GBP	PLN	5.0557	GBP to PLN	0.1978	PLN to GBP
GBP	RON	5.8238	GBP to RON	0.1717	RON to GBP
GBP	RUB	117.2297	GBP to RUB	0.0085	RUB to GBP
GBP	SKK	0	GBP to SKK	0	SKK to GBP
GBP	SEK	13.6864	GBP to SEK	0.0731	SEK to GBP
GBP	CHF	1.1487	GBP to CHF	0.8706	CHF to GBP
GBP	TRY	40.4961	GBP to TRY	0.0247	TRY to GBP
GBP	UAH	49.4265	GBP to UAH	0.0202	UAH to GBP

					Updated: 2024-05-02
Convert from	Convert to	1 GBP	Conversion	in currency	Conversion
GBP	ARS	1094.0374	GBP to ARS	0.0009	ARS to GBP
GBP	BOB	8.6247	GBP to BOB	0.1159	BOB to GBP
GBP	BRL	6.5112	GBP to BRL	0.1536	BRL to GBP
GBP	CAD	1.7203	GBP to CAD	0.5813	CAD to GBP
GBP	KYD	1.0402	GBP to KYD	0.9614	KYD to GBP
GBP	CLP	1203.5182	GBP to CLP	0.0008	CLP to GBP
GBP	COP	4904.9005	GBP to COP	0.0002	COP to GBP
GBP	CRC	636.9141	GBP to CRC	0.0016	CRC to GBP
GBP	DOP	72.5713	GBP to DOP	0.0138	DOP to GBP
GBP	SVC	10.9212	GBP to SVC	0.0916	SVC to GBP
GBP	FJD	2.8848	GBP to FJD	0.3466	FJD to GBP
GBP	HNL	30.8404	GBP to HNL	0.0324	HNL to GBP
GBP	JMD	194.7446	GBP to JMD	0.0051	JMD to GBP
GBP	MXN	21.2388	GBP to MXN	0.0471	MXN to GBP
GBP	ANG	2.2495	GBP to ANG	0.4445	ANG to GBP
GBP	PYG	9353.4842	GBP to PYG	0.0001	PYG to GBP
GBP	PEN	4.7048	GBP to PEN	0.2125	PEN to GBP
GBP	TTD	8.4795	GBP to TTD	0.1179	TTD to GBP
GBP	USD	1.2532	GBP to USD	0.798	USD to GBP
GBP	UYU	47.8501	GBP to UYU	0.0209	UYU to GBP
GBP	VEF	4539645.8155	GBP to VEF	0	VEF to GBP

					Updated: 2024-05-02
Convert from	Convert to	1 GBP	Conversion	in currency	Conversion
GBP	AUD	1.9192	GBP to AUD	0.5211	AUD to GBP
GBP	BDT	136.9852	GBP to BDT	0.0073	BDT to GBP
GBP	BND	1.7037	GBP to BND	0.587	BND to GBP
GBP	CNY	9.0741	GBP to CNY	0.1102	CNY to GBP
GBP	INR	104.5598	GBP to INR	0.0096	INR to GBP
GBP	IDR	20290.7006	GBP to IDR	0	IDR to GBP
GBP	JPY	195.4427	GBP to JPY	0.0051	JPY to GBP
GBP	MYR	5.9726	GBP to MYR	0.1674	MYR to GBP
GBP	MVR	18.7855	GBP to MVR	0.0532	MVR to GBP
GBP	NPR	167.6022	GBP to NPR	0.006	NPR to GBP
GBP	NZD	2.1149	GBP to NZD	0.4728	NZD to GBP
GBP	PKR	347.4861	GBP to PKR	0.0029	PKR to GBP
GBP	PGK	4.8178	GBP to PGK	0.2076	PGK to GBP
GBP	PHP	72.1868	GBP to PHP	0.0139	PHP to GBP
GBP	SCR	17.0967	GBP to SCR	0.0585	SCR to GBP
GBP	SGD	1.7043	GBP to SGD	0.5867	SGD to GBP
GBP	KRW	1724.889	GBP to KRW	0.0006	KRW to GBP
GBP	LKR	372.1622	GBP to LKR	0.0027	LKR to GBP
GBP	TWD	40.7941	GBP to TWD	0.0245	TWD to GBP
GBP	THB	46.2676	GBP to THB	0.0216	THB to GBP

					Updated: 2024-05-02
Convert from	Convert to	1 GBP	Conversion	in currency	Conversion
GBP	BHD	0.4705	GBP to BHD	2.1252	BHD to GBP
GBP	EGP	59.7132	GBP to EGP	0.0167	EGP to GBP
GBP	HKD	9.7975	GBP to HKD	0.1021	HKD to GBP
GBP	ILS	4.7067	GBP to ILS	0.2125	ILS to GBP
GBP	JOD	0.8881	GBP to JOD	1.126	JOD to GBP
GBP	KWD	0.3862	GBP to KWD	2.5893	KWD to GBP
GBP	LBP	111793.566	GBP to LBP	0	LBP to GBP
GBP	OMR	0.4805	GBP to OMR	2.081	OMR to GBP
GBP	QAR	4.5628	GBP to QAR	0.2192	QAR to GBP
GBP	SAR	4.7026	GBP to SAR	0.2126	SAR to GBP
GBP	AED	4.6028	GBP to AED	0.2173	AED to GBP
GBP	YER	313.731	GBP to YER	0.0032	YER to GBP

					Updated: 2024-05-02
Convert from	Convert to	1 GBP	Conversion	in currency	Conversion
GBP	DZD	168.0852	GBP to DZD	0.0059	DZD to GBP
GBP	KES	169.1775	GBP to KES	0.0059	KES to GBP
GBP	MUR	58.1093	GBP to MUR	0.0172	MUR to GBP
GBP	MAD	12.6343	GBP to MAD	0.0791	MAD to GBP
GBP	NAD	23.3058	GBP to NAD	0.0429	NAD to GBP
GBP	NIO	45.9433	GBP to NIO	0.0218	NIO to GBP
GBP	NGN	1749.8816	GBP to NGN	0.0006	NGN to GBP
GBP	SLL	26278.3872	GBP to SLL	0	SLL to GBP
GBP	ZAR	23.278	GBP to ZAR	0.043	ZAR to GBP
GBP	TZS	3226.6303	GBP to TZS	0.0003	TZS to GBP
GBP	TND	3.9437	GBP to TND	0.2536	TND to GBP
GBP	UGX	4754.5868	GBP to UGX	0.0002	UGX to GBP
GBP	XOF	767.4141	GBP to XOF	0.0013	XOF to GBP
GBP	ZMK	11280.004	GBP to ZMK	0.0001	ZMK to GBP

British Pound Sterling (GBP)
1 British Pound Sterling

Sign £
1 Pound is subdivided into 100 pence.

GBP is the currency code for the pound sterling which is represented in accounting with the � symbol. The GBP is the fourth most traded currency and third most widely held reserve currency in the world. It is issued by the second oldest central bank in the world, the Bank of England, once known as the Governor and Company of the Bank of England. The Bank of England was, at its formation in 1694, a private bank until 1931 when it was placed under the control of the British Treasury Department with it finally being fully nationalized in 1946. This is how it remained until 1998 when it was returned to the Treasury, this time as a wholly owned, yet independent public organization.

Coins used:
- frequently used: 1p, 2p, 5p, 10p, 20p, 50p, �1, �2
- rarely used: �5

Banknotes used:
- frequently used: �5, �10, �20
- rarely used: �1 (Scot. & IoM only), �50, �100 (Scot. & N. Ireland only)

Central Bank
Bank of England
http://www.bankofengland.co.uk
The Bank of England issues GBP currency within Wales and England and controls GBP issuance in Scotland and Northern Ireland. Though it retains this sovereign control over GBP in these core countries, there are 7 other central banks that have the power to issue GBP throughout the United Kingdom, each in their own respective countries.

This is because GBP is the official currency of the entire United Kingdom, the Channel Islands, the Isle of Man, as well as British dependencies and territories such as South Georgia, the South Sandwich Islands, British Antarctica, as well as Tristan da Cunha. Each of these dependencies and territories have their own issuances of GBP. While not the only major currency in the world that is issued by more than a single central bank, the GBP is the largest currency that has this unique characteristic. This makes it particularly difficult to understand the specific movement of the currency relative to worldwide markets because it is in fact not reflective of the monetary policy or economic condition of a particular nation. The issuance is spread across multiple economies and varied economic conditions as well as the local monetary policy responses to those conditions at any given time.

Therefore even though the Bank of England has a Monetary Policy Committee (MPC), their power over the GBP is limited. This limitation is increased with knowing that the MPC itself is responsible for carrying out directives from the Treasury if such directives are also backed by Parliament. Short of these additional directives, the Bank of England MPC is tasked with pursuing the economic target of price stability through the setting of interest rates. The MPC is comprised of 8 directors and the Governor of the Bank of England. The MPC is designed to be independent of political influence yet is accountable to both the Treasury and Parliament, this accountability certainly influences decisions made, albeit indirectly. The MPC has a substantial impact on the circulation and valuation of the GBP.

The value of the historical currencies of England in the 17th century was as an enforceable legal tender value relative to gold. By 1816 the direct relation of British currency relative to silver was established, this being the first precursor to the existing name as the pound sterling, but as the underlying currency fluctuating between being used as legal tender and simply as a value based banknote. Over time the British currency switched between the gold and silver standard with the any standard being completely abolished in 1914. After World War I they returned to a version of the gold standard in order to stifle post war inflation. The gold standard was once again abolished at the outset of the Great Depression, in 1931, causing a sudden devaluation of the GBP by over 25%. Nine years later in 1940, the Bretton Woods system was adopted and the GBP was pegged to the USD. This held until the pressures of post World War II debt forced England to devalue the currency over 30% in 1949, yet they still remained within Bretton Woods, simply at a lower valuation. In the 1960's with the exchange rate remaining at the 1949 fixed point relative to the USD the GBP was devalued again this time by 14.3% in November 1967. When Bretton Woods finally disintegrated in 1971, the GBP became a de facto floating currency and has remained as such to the current day.

This long history of the GBP shows the ways in which some valuations and currencies can experience long periods of stability and then bounce through different standards, valuations, and policies within a single decade. Within each of these movements there is a complexity of international issues and interdependence that affects each new development. The most recent of which is the debate of whether the GBP should be consolidated into the euro. This consolidation would be complex given the dispersed central bank structure of the GBP and could include a partial transfer of the GBP to EUR leaving the remaining GBP issuers outside the eurozone. This is treated primarily as a political topic relative to the GBP and yet it can and will have a substantial impact on the economies of the United Kingdom as well as all those using it not only as a reserve currency to supplement the euro, effectively narrowing their diversification, but also for those that see the largess of the United Kingdom economy substantially influencing the current dynamics within the eurozone.

These are all value and circulation issues that will drastically impact the GBP as a currency over the next 2-10 years. Aside from the political issues of circulation, absorption into the euro, and standards of value is the current issue of GBP acceptance as legal tender. As it stands, similar to the CAD, which has its roots in ties to the GBP, there are maximum legal values set for acceptance of the GBP as legal tender. These guidelines place maximum restrictions at 20p with 1p or 2p coins, �5 with 5p or 10p coins, �10 with 20p through 50p coins, and unlimited with �1-� 5 coins. There is no restriction on the acceptance of banknotes as legal tender.

The GBP is a complex currency that is difficult to forecast given the diversity of central banks and corresponding economies to which each serves. This is further complicated when noting the rapidly changing history of the standard of value connected and rapidly changing history of the GBP, this combines further with the uncertainty of joining the eurozone and the consequences that will result. All of these factors combine to form an uncertain future for the GBP and its place within world trade and as a sovereign currency.

Other References
Wikipedia article on British Pound Sterling

Have more info on the British Pound Sterling? Please contact us