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British Pound Sterling (GBP) Exchange Rates on 01st April 2020 (01/04/2020)



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Exchange rates for British Pound Sterling (GBP)

Updated: 2020-04-01
Convert from Convert to 1 GBP Conversion in currency Conversion
GBP GBP 1 GBP to GBP 1 GBP to GBP
GBP BGN 2.1924 GBP to BGN 0.4561 BGN to GBP
GBP HRK 8.5733 GBP to HRK 0.1166 HRK to GBP
GBP CZK 30.8198 GBP to CZK 0.0324 CZK to GBP
GBP DKK 8.3929 GBP to DKK 0.1191 DKK to GBP
GBP EEK 0 GBP to EEK 0 EEK to GBP
GBP HUF 406.8391 GBP to HUF 0.0025 HUF to GBP
GBP KZT 550.0894 GBP to KZT 0.0018 KZT to GBP
GBP LVL 0.7473 GBP to LVL 1.3381 LVL to GBP
GBP LTL 0 GBP to LTL 0 LTL to GBP
GBP MKD 69.2948 GBP to MKD 0.0144 MKD to GBP
GBP MDL 22.4389 GBP to MDL 0.0446 MDL to GBP
GBP NOK 12.9397 GBP to NOK 0.0773 NOK to GBP
GBP PLN 5.1413 GBP to PLN 0.1945 PLN to GBP
GBP RON 5.4364 GBP to RON 0.1839 RON to GBP
GBP RUB 97.6721 GBP to RUB 0.0102 RUB to GBP
GBP SKK 0 GBP to SKK 0 SKK to GBP
GBP SEK 12.3559 GBP to SEK 0.0809 SEK to GBP
GBP CHF 1.1901 GBP to CHF 0.8403 CHF to GBP
GBP TRY 8.1911 GBP to TRY 0.1221 TRY to GBP
GBP UAH 34.0204 GBP to UAH 0.0294 UAH to GBP
Updated: 2020-04-01
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GBP ARS 79.4735 GBP to ARS 0.0126 ARS to GBP
GBP BOB 8.4545 GBP to BOB 0.1183 BOB to GBP
GBP BRL 6.431 GBP to BRL 0.1555 BRL to GBP
GBP CAD 1.7519 GBP to CAD 0.5708 CAD to GBP
GBP KYD 1.0218 GBP to KYD 0.9787 KYD to GBP
GBP CLP 1060.4196 GBP to CLP 0.0009 CLP to GBP
GBP COP 5014.8482 GBP to COP 0.0002 COP to GBP
GBP CRC 713.0294 GBP to CRC 0.0014 CRC to GBP
GBP DOP 66.0538 GBP to DOP 0.0151 DOP to GBP
GBP SVC 10.7285 GBP to SVC 0.0932 SVC to GBP
GBP FJD 2.826 GBP to FJD 0.3539 FJD to GBP
GBP HNL 30.3404 GBP to HNL 0.033 HNL to GBP
GBP JMD 165.9375 GBP to JMD 0.006 JMD to GBP
GBP MXN 29.6426 GBP to MXN 0.0337 MXN to GBP
GBP ANG 2.1949 GBP to ANG 0.4556 ANG to GBP
GBP PYG 8068.9173 GBP to PYG 0.0001 PYG to GBP
GBP PEN 4.2132 GBP to PEN 0.2374 PEN to GBP
GBP TTD 8.2848 GBP to TTD 0.1207 TTD to GBP
GBP USD 1.2355 GBP to USD 0.8094 USD to GBP
GBP UYU 53.7916 GBP to UYU 0.0186 UYU to GBP
GBP VEF 12.3394 GBP to VEF 0.081 VEF to GBP
Updated: 2020-04-01
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GBP AUD 2.0333 GBP to AUD 0.4918 AUD to GBP
GBP BDT 104.1577 GBP to BDT 0.0096 BDT to GBP
GBP BND 1.7481 GBP to BND 0.572 BND to GBP
GBP CNY 8.7706 GBP to CNY 0.114 CNY to GBP
GBP INR 93.8169 GBP to INR 0.0107 INR to GBP
GBP IDR 20575.8159 GBP to IDR 0 IDR to GBP
GBP JPY 132.8763 GBP to JPY 0.0075 JPY to GBP
GBP MYR 5.3776 GBP to MYR 0.186 MYR to GBP
GBP MVR 19.0275 GBP to MVR 0.0526 MVR to GBP
GBP NPR 147.9166 GBP to NPR 0.0068 NPR to GBP
GBP NZD 2.0889 GBP to NZD 0.4787 NZD to GBP
GBP PKR 203.6073 GBP to PKR 0.0049 PKR to GBP
GBP PGK 4.2548 GBP to PGK 0.235 PGK to GBP
GBP PHP 62.85 GBP to PHP 0.0159 PHP to GBP
GBP SCR 17.0002 GBP to SCR 0.0588 SCR to GBP
GBP SGD 1.7692 GBP to SGD 0.5652 SGD to GBP
GBP KRW 1520.1593 GBP to KRW 0.0007 KRW to GBP
GBP LKR 232.0519 GBP to LKR 0.0043 LKR to GBP
GBP TWD 37.4341 GBP to TWD 0.0267 TWD to GBP
GBP THB 40.7708 GBP to THB 0.0245 THB to GBP
Updated: 2020-04-01
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GBP BHD 0.4658 GBP to BHD 2.1467 BHD to GBP
GBP EGP 19.4581 GBP to EGP 0.0514 EGP to GBP
GBP HKD 9.5767 GBP to HKD 0.1044 HKD to GBP
GBP ILS 4.3949 GBP to ILS 0.2275 ILS to GBP
GBP JOD 0.8759 GBP to JOD 1.1416 JOD to GBP
GBP KWD 0.3867 GBP to KWD 2.5863 KWD to GBP
GBP LBP 1853.9752 GBP to LBP 0.0005 LBP to GBP
GBP OMR 0.475 GBP to OMR 2.1051 OMR to GBP
GBP QAR 4.4978 GBP to QAR 0.2223 QAR to GBP
GBP SAR 4.6516 GBP to SAR 0.215 SAR to GBP
GBP AED 4.5379 GBP to AED 0.2204 AED to GBP
GBP YER 309.3052 GBP to YER 0.0032 YER to GBP
Updated: 2020-04-01
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GBP DZD 154.2159 GBP to DZD 0.0065 DZD to GBP
GBP KES 129.9125 GBP to KES 0.0077 KES to GBP
GBP MUR 48.4347 GBP to MUR 0.0206 MUR to GBP
GBP MAD 12.4368 GBP to MAD 0.0804 MAD to GBP
GBP NAD 21.9892 GBP to NAD 0.0455 NAD to GBP
GBP NIO 41.3665 GBP to NIO 0.0242 NIO to GBP
GBP NGN 453.4248 GBP to NGN 0.0022 NGN to GBP
GBP SLL 12015.1188 GBP to SLL 0.0001 SLL to GBP
GBP ZAR 22.3188 GBP to ZAR 0.0448 ZAR to GBP
GBP TZS 2854.8507 GBP to TZS 0.0004 TZS to GBP
GBP TND 3.5373 GBP to TND 0.2827 TND to GBP
GBP UGX 4647.2433 GBP to UGX 0.0002 UGX to GBP
GBP XOF 734.6091 GBP to XOF 0.0014 XOF to GBP
GBP ZMK 11120.8998 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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