British Pound Sterling (GBP) Exchange Rates on 10th December 2019 (10/12/2019)

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Exchange rates for British Pound Sterling (GBP)

Updated: 2019-12-10
Convert from Convert to 1 GBP Conversion in currency Conversion
GBP GBP 1 GBP to GBP 1 GBP to GBP
GBP BGN 2.329 GBP to BGN 0.4294 BGN to GBP
GBP HRK 8.8604 GBP to HRK 0.1129 HRK to GBP
GBP CZK 30.4151 GBP to CZK 0.0329 CZK to GBP
GBP DKK 8.8979 GBP to DKK 0.1124 DKK to GBP
GBP EEK 0 GBP to EEK 0 EEK to GBP
GBP HUF 394.112 GBP to HUF 0.0025 HUF to GBP
GBP KZT 509.9323 GBP to KZT 0.002 KZT to GBP
GBP LVL 0.7967 GBP to LVL 1.2551 LVL to GBP
GBP LTL 3.8893 GBP to LTL 0.2571 LTL to GBP
GBP MKD 73.3894 GBP to MKD 0.0136 MKD to GBP
GBP MDL 22.9831 GBP to MDL 0.0435 MDL to GBP
GBP NOK 12.022 GBP to NOK 0.0832 NOK to GBP
GBP PLN 5.0907 GBP to PLN 0.1964 PLN to GBP
GBP RON 5.6916 GBP to RON 0.1757 RON to GBP
GBP RUB 83.8727 GBP to RUB 0.0119 RUB to GBP
GBP SKK 0 GBP to SKK 0 SKK to GBP
GBP SEK 12.5129 GBP to SEK 0.0799 SEK to GBP
GBP CHF 1.3049 GBP to CHF 0.7664 CHF to GBP
GBP TRY 7.6162 GBP to TRY 0.1313 TRY to GBP
GBP UAH 31.3371 GBP to UAH 0.0319 UAH to GBP
Updated: 2019-12-10
Convert from Convert to 1 GBP Conversion in currency Conversion
GBP ARS 79.2079 GBP to ARS 0.0126 ARS to GBP
GBP BOB 9.137 GBP to BOB 0.1094 BOB to GBP
GBP BRL 5.4549 GBP to BRL 0.1833 BRL to GBP
GBP CAD 1.7462 GBP to CAD 0.5727 CAD to GBP
GBP KYD 1.1012 GBP to KYD 0.9081 KYD to GBP
GBP CLP 1030.0314 GBP to CLP 0.001 CLP to GBP
GBP COP 4510.6611 GBP to COP 0.0002 COP to GBP
GBP CRC 747.8768 GBP to CRC 0.0013 CRC to GBP
GBP DOP 69.8589 GBP to DOP 0.0143 DOP to GBP
GBP SVC 11.562 GBP to SVC 0.0865 SVC to GBP
GBP FJD 2.8641 GBP to FJD 0.3491 FJD to GBP
GBP HNL 32.5336 GBP to HNL 0.0307 HNL to GBP
GBP JMD 185.1412 GBP to JMD 0.0054 JMD to GBP
GBP MXN 25.353 GBP to MXN 0.0394 MXN to GBP
GBP ANG 2.2661 GBP to ANG 0.4413 ANG to GBP
GBP PYG 8511.4417 GBP to PYG 0.0001 PYG to GBP
GBP PEN 4.4647 GBP to PEN 0.224 PEN to GBP
GBP TTD 8.9277 GBP to TTD 0.112 TTD to GBP
GBP USD 1.3172 GBP to USD 0.7592 USD to GBP
GBP UYU 49.9889 GBP to UYU 0.02 UYU to GBP
GBP VEF 13.1553 GBP to VEF 0.076 VEF to GBP
Updated: 2019-12-10
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GBP AUD 1.9271 GBP to AUD 0.5189 AUD to GBP
GBP BDT 112.0484 GBP to BDT 0.0089 BDT to GBP
GBP BND 1.7968 GBP to BND 0.5566 BND to GBP
GBP CNY 9.2695 GBP to CNY 0.1079 CNY to GBP
GBP INR 93.7238 GBP to INR 0.0107 INR to GBP
GBP IDR 18459.3705 GBP to IDR 0.0001 IDR to GBP
GBP JPY 143.0321 GBP to JPY 0.007 JPY to GBP
GBP MYR 5.4807 GBP to MYR 0.1825 MYR to GBP
GBP MVR 20.35 GBP to MVR 0.0491 MVR to GBP
GBP NPR 150.576 GBP to NPR 0.0066 NPR to GBP
GBP NZD 2.0078 GBP to NZD 0.4981 NZD to GBP
GBP PKR 204.7728 GBP to PKR 0.0049 PKR to GBP
GBP PGK 4.4981 GBP to PGK 0.2223 PGK to GBP
GBP PHP 66.9322 GBP to PHP 0.0149 PHP to GBP
GBP SCR 18.0499 GBP to SCR 0.0554 SCR to GBP
GBP SGD 1.7911 GBP to SGD 0.5583 SGD to GBP
GBP KRW 1567.1618 GBP to KRW 0.0006 KRW to GBP
GBP LKR 239.4236 GBP to LKR 0.0042 LKR to GBP
GBP TWD 40.1277 GBP to TWD 0.0249 TWD to GBP
GBP THB 39.976 GBP to THB 0.025 THB to GBP
Updated: 2019-12-10
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GBP BHD 0.4968 GBP to BHD 2.0129 BHD to GBP
GBP EGP 21.2575 GBP to EGP 0.047 EGP to GBP
GBP HKD 10.3096 GBP to HKD 0.097 HKD to GBP
GBP ILS 4.5713 GBP to ILS 0.2188 ILS to GBP
GBP JOD 0.9339 GBP to JOD 1.0708 JOD to GBP
GBP KWD 0.3999 GBP to KWD 2.5007 KWD to GBP
GBP LBP 1997.8269 GBP to LBP 0.0005 LBP to GBP
GBP OMR 0.5072 GBP to OMR 1.9715 OMR to GBP
GBP QAR 4.7955 GBP to QAR 0.2085 QAR to GBP
GBP SAR 4.9395 GBP to SAR 0.2024 SAR to GBP
GBP AED 4.8382 GBP to AED 0.2067 AED to GBP
GBP YER 329.7548 GBP to YER 0.003 YER to GBP
Updated: 2019-12-10
Convert from Convert to 1 GBP Conversion in currency Conversion
GBP DZD 157.7929 GBP to DZD 0.0063 DZD to GBP
GBP KES 133.9833 GBP to KES 0.0075 KES to GBP
GBP MUR 48.0846 GBP to MUR 0.0208 MUR to GBP
GBP MAD 12.7268 GBP to MAD 0.0786 MAD to GBP
GBP NAD 19.2966 GBP to NAD 0.0518 NAD to GBP
GBP NIO 44.5744 GBP to NIO 0.0224 NIO to GBP
GBP NGN 477.4316 GBP to NGN 0.0021 NGN to GBP
GBP SLL 12842.4224 GBP to SLL 0.0001 SLL to GBP
GBP ZAR 19.248 GBP to ZAR 0.052 ZAR to GBP
GBP TZS 3026.3448 GBP to TZS 0.0003 TZS to GBP
GBP TND 3.7599 GBP to TND 0.266 TND to GBP
GBP UGX 4869.0772 GBP to UGX 0.0002 UGX to GBP
GBP XOF 781.3083 GBP to XOF 0.0013 XOF to GBP
GBP ZMK 11856.1362 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
XE.com Live Currency Converter for GBP

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