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British Pound Sterling (GBP) Exchange Rates on 16th April 2024 (16/04/2024)

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Exchange rates for British Pound Sterling (GBP)

Updated: 2024-04-16
Convert from Convert to 1 GBP Conversion in currency Conversion
GBP GBP GBP GBP 1 GBP to GBP 1 GBP to GBP
GBP GBP BGN BGN 2.2901 GBP to BGN 0.4367 BGN to GBP
GBP GBP HRK HRK 8.7979 GBP to HRK 0.1137 HRK to GBP
GBP GBP CZK CZK 29.63 GBP to CZK 0.0337 CZK to GBP
GBP GBP DKK DKK 8.7378 GBP to DKK 0.1144 DKK to GBP
GBP GBP EEK EEK 0 GBP to EEK 0 EEK to GBP
GBP GBP HUF HUF 461.8314 GBP to HUF 0.0022 HUF to GBP
GBP GBP KZT KZT 559.2707 GBP to KZT 0.0018 KZT to GBP
GBP GBP LVL LVL 0.7516 GBP to LVL 1.3304 LVL to GBP
GBP GBP LTL LTL 0 GBP to LTL 0 LTL to GBP
GBP GBP MKD MKD 72.0269 GBP to MKD 0.0139 MKD to GBP
GBP GBP MDL MDL 21.9888 GBP to MDL 0.0455 MDL to GBP
GBP GBP NOK NOK 13.6251 GBP to NOK 0.0734 NOK to GBP
GBP GBP PLN PLN 5.0555 GBP to PLN 0.1978 PLN to GBP
GBP GBP RON RON 5.8266 GBP to RON 0.1716 RON to GBP
GBP GBP RUB RUB 115.9206 GBP to RUB 0.0086 RUB to GBP
GBP GBP SKK SKK 0 GBP to SKK 0 SKK to GBP
GBP GBP SEK SEK 13.5634 GBP to SEK 0.0737 SEK to GBP
GBP GBP CHF CHF 1.1348 GBP to CHF 0.8813 CHF to GBP
GBP GBP TRY TRY 40.3118 GBP to TRY 0.0248 TRY to GBP
GBP GBP UAH UAH 49.3617 GBP to UAH 0.0203 UAH to GBP
Updated: 2024-04-16
Convert from Convert to 1 GBP Conversion in currency Conversion
GBP GBP ARS ARS 1078.8913 GBP to ARS 0.0009 ARS to GBP
GBP GBP BOB BOB 8.6189 GBP to BOB 0.116 BOB to GBP
GBP GBP BRL BRL 6.4434 GBP to BRL 0.1552 BRL to GBP
GBP GBP CAD CAD 1.7155 GBP to CAD 0.5829 CAD to GBP
GBP GBP KYD KYD 1.0394 GBP to KYD 0.9621 KYD to GBP
GBP GBP CLP CLP 1216.3506 GBP to CLP 0.0008 CLP to GBP
GBP GBP COP COP 4828.7745 GBP to COP 0.0002 COP to GBP
GBP GBP CRC CRC 624.6683 GBP to CRC 0.0016 CRC to GBP
GBP GBP DOP DOP 73.7946 GBP to DOP 0.0136 DOP to GBP
GBP GBP SVC SVC 10.9134 GBP to SVC 0.0916 SVC to GBP
GBP GBP FJD FJD 2.8313 GBP to FJD 0.3532 FJD to GBP
GBP GBP HNL HNL 30.791 GBP to HNL 0.0325 HNL to GBP
GBP GBP JMD JMD 193.2279 GBP to JMD 0.0052 JMD to GBP
GBP GBP MXN MXN 20.8483 GBP to MXN 0.048 MXN to GBP
GBP GBP ANG ANG 2.2478 GBP to ANG 0.4449 ANG to GBP
GBP GBP PYG PYG 9239.0598 GBP to PYG 0.0001 PYG to GBP
GBP GBP PEN PEN 4.6221 GBP to PEN 0.2164 PEN to GBP
GBP GBP TTD TTD 8.4736 GBP to TTD 0.118 TTD to GBP
GBP GBP USD USD 1.2426 GBP to USD 0.8048 USD to GBP
GBP GBP UYU UYU 48.4009 GBP to UYU 0.0207 UYU to GBP
GBP GBP VEF VEF 4501247.133 GBP to VEF 0 VEF to GBP
Updated: 2024-04-16
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GBP GBP AUD AUD 1.9369 GBP to AUD 0.5163 AUD to GBP
GBP GBP BDT BDT 136.8807 GBP to BDT 0.0073 BDT to GBP
GBP GBP BND BND 1.6971 GBP to BND 0.5893 BND to GBP
GBP GBP CNY CNY 8.9933 GBP to CNY 0.1112 CNY to GBP
GBP GBP INR INR 103.7882 GBP to INR 0.0096 INR to GBP
GBP GBP IDR IDR 20124.7837 GBP to IDR 0 IDR to GBP
GBP GBP JPY JPY 191.8057 GBP to JPY 0.0052 JPY to GBP
GBP GBP MYR MYR 5.9558 GBP to MYR 0.1679 MYR to GBP
GBP GBP MVR MVR 19.1921 GBP to MVR 0.0521 MVR to GBP
GBP GBP NPR NPR 166.491 GBP to NPR 0.006 NPR to GBP
GBP GBP NZD NZD 2.1136 GBP to NZD 0.4731 NZD to GBP
GBP GBP PKR PKR 346.9744 GBP to PKR 0.0029 PKR to GBP
GBP GBP PGK PGK 4.7207 GBP to PGK 0.2118 PGK to GBP
GBP GBP PHP PHP 70.7733 GBP to PHP 0.0141 PHP to GBP
GBP GBP SCR SCR 16.8062 GBP to SCR 0.0595 SCR to GBP
GBP GBP SGD SGD 1.6984 GBP to SGD 0.5888 SGD to GBP
GBP GBP KRW KRW 1739.5064 GBP to KRW 0.0006 KRW to GBP
GBP GBP LKR LKR 373.042 GBP to LKR 0.0027 LKR to GBP
GBP GBP TWD TWD 40.4463 GBP to TWD 0.0247 TWD to GBP
GBP GBP THB THB 45.7007 GBP to THB 0.0219 THB to GBP
Updated: 2024-04-16
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GBP GBP BHD BHD 0.4683 GBP to BHD 2.1354 BHD to GBP
GBP GBP EGP EGP 59.9621 GBP to EGP 0.0167 EGP to GBP
GBP GBP HKD HKD 9.7268 GBP to HKD 0.1028 HKD to GBP
GBP GBP ILS ILS 4.666 GBP to ILS 0.2143 ILS to GBP
GBP GBP JOD JOD 0.8809 GBP to JOD 1.1352 JOD to GBP
GBP GBP KWD KWD 0.3827 GBP to KWD 2.6127 KWD to GBP
GBP GBP LBP LBP 111687.8359 GBP to LBP 0 LBP to GBP
GBP GBP OMR OMR 0.4783 GBP to OMR 2.0906 OMR to GBP
GBP GBP QAR QAR 4.524 GBP to QAR 0.221 QAR to GBP
GBP GBP SAR SAR 4.6594 GBP to SAR 0.2146 SAR to GBP
GBP GBP AED AED 4.5635 GBP to AED 0.2191 AED to GBP
GBP GBP YER YER 311.0551 GBP to YER 0.0032 YER to GBP
Updated: 2024-04-16
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GBP GBP DZD DZD 167.5231 GBP to DZD 0.006 DZD to GBP
GBP GBP KES KES 162.7814 GBP to KES 0.0061 KES to GBP
GBP GBP MUR MUR 59.335 GBP to MUR 0.0169 MUR to GBP
GBP GBP MAD MAD 12.6247 GBP to MAD 0.0792 MAD to GBP
GBP GBP NAD NAD 23.4833 GBP to NAD 0.0426 NAD to GBP
GBP GBP NIO NIO 45.9081 GBP to NIO 0.0218 NIO to GBP
GBP GBP NGN NGN 1433.5208 GBP to NGN 0.0007 NGN to GBP
GBP GBP SLL SLL 26056.9423 GBP to SLL 0 SLL to GBP
GBP GBP ZAR ZAR 23.6583 GBP to ZAR 0.0423 ZAR to GBP
GBP GBP TZS TZS 3205.9294 GBP to TZS 0.0003 TZS to GBP
GBP GBP TND TND 3.8676 GBP to TND 0.2586 TND to GBP
GBP GBP UGX UGX 4744.247 GBP to UGX 0.0002 UGX to GBP
GBP GBP XOF XOF 767.6269 GBP to XOF 0.0013 XOF to GBP
GBP GBP ZMK ZMK 11184.9754 GBP to ZMK 0.0001 ZMK to GBP

British Pound Sterling (GBP)

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

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