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British Pound Sterling (GBP) Exchange Rates on 08th September 2024 (08/09/2024)

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Exchange rates for British Pound Sterling (GBP)

Updated: 2024-09-08
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 2.3149 GBP to BGN 0.432 BGN to GBP
GBP GBP HRK HRK 9.0188 GBP to HRK 0.1109 HRK to GBP
GBP GBP CZK CZK 29.6584 GBP to CZK 0.0337 CZK to GBP
GBP GBP DKK DKK 8.8397 GBP to DKK 0.1131 DKK to GBP
GBP GBP EEK EEK 0 GBP to EEK 0 EEK to GBP
GBP GBP HUF HUF 466.5232 GBP to HUF 0.0021 HUF to GBP
GBP GBP KZT KZT 630.4235 GBP to KZT 0.0016 KZT to GBP
GBP GBP LVL LVL 0.7943 GBP to LVL 1.259 LVL to GBP
GBP GBP LTL LTL 0 GBP to LTL 0 LTL to GBP
GBP GBP MKD MKD 72.8331 GBP to MKD 0.0137 MKD to GBP
GBP GBP MDL MDL 22.8756 GBP to MDL 0.0437 MDL to GBP
GBP GBP NOK NOK 14.081 GBP to NOK 0.071 NOK to GBP
GBP GBP PLN PLN 5.0737 GBP to PLN 0.1971 PLN to GBP
GBP GBP RON RON 5.8892 GBP to RON 0.1698 RON to GBP
GBP GBP RUB RUB 118.1831 GBP to RUB 0.0085 RUB to GBP
GBP GBP SKK SKK 0 GBP to SKK 0 SKK to GBP
GBP GBP SEK SEK 13.5288 GBP to SEK 0.0739 SEK to GBP
GBP GBP CHF CHF 1.1069 GBP to CHF 0.9034 CHF to GBP
GBP GBP TRY TRY 44.6332 GBP to TRY 0.0224 TRY to GBP
GBP GBP UAH UAH 53.8825 GBP to UAH 0.0186 UAH to GBP
Updated: 2024-09-08
Convert from Convert to 1 GBP Conversion in currency Conversion
GBP GBP ARS ARS 1253.887 GBP to ARS 0.0008 ARS to GBP
GBP GBP BOB BOB 9.0842 GBP to BOB 0.1101 BOB to GBP
GBP GBP BRL BRL 7.3512 GBP to BRL 0.136 BRL to GBP
GBP GBP CAD CAD 1.7831 GBP to CAD 0.5608 CAD to GBP
GBP GBP KYD KYD 1.0955 GBP to KYD 0.9128 KYD to GBP
GBP GBP CLP CLP 1238.8545 GBP to CLP 0.0008 CLP to GBP
GBP GBP COP COP 5472.7482 GBP to COP 0.0002 COP to GBP
GBP GBP CRC CRC 690.5147 GBP to CRC 0.0014 CRC to GBP
GBP GBP DOP DOP 78.6625 GBP to DOP 0.0127 DOP to GBP
GBP GBP SVC SVC 11.5035 GBP to SVC 0.0869 SVC to GBP
GBP GBP FJD FJD 2.9136 GBP to FJD 0.3432 FJD to GBP
GBP GBP HNL HNL 32.5775 GBP to HNL 0.0307 HNL to GBP
GBP GBP JMD JMD 206.4206 GBP to JMD 0.0048 JMD to GBP
GBP GBP MXN MXN 26.2366 GBP to MXN 0.0381 MXN to GBP
GBP GBP ANG ANG 2.3693 GBP to ANG 0.4221 ANG to GBP
GBP GBP PYG PYG 10155.331 GBP to PYG 0.0001 PYG to GBP
GBP GBP PEN PEN 4.9866 GBP to PEN 0.2005 PEN to GBP
GBP GBP TTD TTD 8.9102 GBP to TTD 0.1122 TTD to GBP
GBP GBP USD USD 1.3132 GBP to USD 0.7615 USD to GBP
GBP GBP UYU UYU 53.0965 GBP to UYU 0.0188 UYU to GBP
GBP GBP VEF VEF 4756909.4923 GBP to VEF 0 VEF to GBP
Updated: 2024-09-08
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GBP GBP AUD AUD 1.969 GBP to AUD 0.5079 AUD to GBP
GBP GBP BDT BDT 157.1002 GBP to BDT 0.0064 BDT to GBP
GBP GBP BND BND 1.7075 GBP to BND 0.5857 BND to GBP
GBP GBP CNY CNY 9.3088 GBP to CNY 0.1074 CNY to GBP
GBP GBP INR INR 110.2887 GBP to INR 0.0091 INR to GBP
GBP GBP IDR IDR 20299.3098 GBP to IDR 0 IDR to GBP
GBP GBP JPY JPY 186.9203 GBP to JPY 0.0053 JPY to GBP
GBP GBP MYR MYR 5.6866 GBP to MYR 0.1759 MYR to GBP
GBP GBP MVR MVR 20.1574 GBP to MVR 0.0496 MVR to GBP
GBP GBP NPR NPR 176.7193 GBP to NPR 0.0057 NPR to GBP
GBP GBP NZD NZD 2.1269 GBP to NZD 0.4702 NZD to GBP
GBP GBP PKR PKR 366.2067 GBP to PKR 0.0027 PKR to GBP
GBP GBP PGK PGK 5.2043 GBP to PGK 0.1921 PGK to GBP
GBP GBP PHP PHP 73.1955 GBP to PHP 0.0137 PHP to GBP
GBP GBP SCR SCR 18.0368 GBP to SCR 0.0554 SCR to GBP
GBP GBP SGD SGD 1.712 GBP to SGD 0.5841 SGD to GBP
GBP GBP KRW KRW 1758.0046 GBP to KRW 0.0006 KRW to GBP
GBP GBP LKR LKR 392.7676 GBP to LKR 0.0025 LKR to GBP
GBP GBP TWD TWD 42.0744 GBP to TWD 0.0238 TWD to GBP
GBP GBP THB THB 44.311 GBP to THB 0.0226 THB to GBP
Updated: 2024-09-08
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GBP GBP BHD BHD 0.4945 GBP to BHD 2.0222 BHD to GBP
GBP GBP EGP EGP 63.5584 GBP to EGP 0.0157 EGP to GBP
GBP GBP HKD HKD 10.2372 GBP to HKD 0.0977 HKD to GBP
GBP GBP ILS ILS 4.8943 GBP to ILS 0.2043 ILS to GBP
GBP GBP JOD JOD 0.9306 GBP to JOD 1.0745 JOD to GBP
GBP GBP KWD KWD 0.401 GBP to KWD 2.4935 KWD to GBP
GBP GBP LBP LBP 117730.2743 GBP to LBP 0 LBP to GBP
GBP GBP OMR OMR 0.5051 GBP to OMR 1.9798 OMR to GBP
GBP GBP QAR QAR 4.7921 GBP to QAR 0.2087 QAR to GBP
GBP GBP SAR SAR 4.9298 GBP to SAR 0.2028 SAR to GBP
GBP GBP AED AED 4.8233 GBP to AED 0.2073 AED to GBP
GBP GBP YER YER 328.7477 GBP to YER 0.003 YER to GBP
Updated: 2024-09-08
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GBP GBP DZD DZD 173.8779 GBP to DZD 0.0058 DZD to GBP
GBP GBP KES KES 169.2677 GBP to KES 0.0059 KES to GBP
GBP GBP MUR MUR 60.3529 GBP to MUR 0.0166 MUR to GBP
GBP GBP MAD MAD 12.7638 GBP to MAD 0.0783 MAD to GBP
GBP GBP NAD NAD 23.3165 GBP to NAD 0.0429 NAD to GBP
GBP GBP NIO NIO 48.3976 GBP to NIO 0.0207 NIO to GBP
GBP GBP NGN NGN 2107.8194 GBP to NGN 0.0005 NGN to GBP
GBP GBP SLL SLL 27536.0566 GBP to SLL 0 SLL to GBP
GBP GBP ZAR ZAR 23.4423 GBP to ZAR 0.0427 ZAR to GBP
GBP GBP TZS TZS 3575.9075 GBP to TZS 0.0003 TZS to GBP
GBP GBP TND TND 3.9908 GBP to TND 0.2506 TND to GBP
GBP GBP UGX UGX 4883.5512 GBP to UGX 0.0002 UGX to GBP
GBP GBP XOF XOF 776.3934 GBP to XOF 0.0013 XOF to GBP
GBP GBP ZMK ZMK 11819.9537 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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