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British Pound Sterling (GBP) Exchange Rates on 28th September 2023 (28/09/2023)

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Exchange rates for British Pound Sterling (GBP)

Updated: 2023-09-28
Convert from Convert to 1 GBP Conversion in currency Conversion
GBP GBP BGN BGN 2.2595 GBP to BGN 0.4426 BGN to GBP
GBP GBP HRK HRK 8.5142 GBP to HRK 0.1175 HRK to GBP
GBP GBP CZK CZK 28.1345 GBP to CZK 0.0355 CZK to GBP
GBP GBP DKK DKK 8.6144 GBP to DKK 0.1161 DKK to GBP
GBP GBP HUF HUF 453.3437 GBP to HUF 0.0022 HUF to GBP
GBP GBP KZT KZT 584.0759 GBP to KZT 0.0017 KZT to GBP
GBP GBP LVL LVL 0.7342 GBP to LVL 1.362 LVL to GBP
GBP GBP MKD MKD 71.0906 GBP to MKD 0.0141 MKD to GBP
GBP GBP MDL MDL 22.1114 GBP to MDL 0.0452 MDL to GBP
GBP GBP NOK NOK 13.0521 GBP to NOK 0.0766 NOK to GBP
GBP GBP PLN PLN 5.3583 GBP to PLN 0.1866 PLN to GBP
GBP GBP RON RON 5.7483 GBP to RON 0.174 RON to GBP
GBP GBP RUB RUB 117.3812 GBP to RUB 0.0085 RUB to GBP
GBP GBP SEK SEK 13.4179 GBP to SEK 0.0745 SEK to GBP
GBP GBP CHF CHF 1.1177 GBP to CHF 0.8947 CHF to GBP
GBP GBP TRY TRY 33.1898 GBP to TRY 0.0301 TRY to GBP
GBP GBP UAH UAH 44.9816 GBP to UAH 0.0222 UAH to GBP
Updated: 2023-09-28
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GBP GBP ARS ARS 424.8226 GBP to ARS 0.0024 ARS to GBP
GBP GBP BOB BOB 8.4182 GBP to BOB 0.1188 BOB to GBP
GBP GBP BRL BRL 6.1218 GBP to BRL 0.1634 BRL to GBP
GBP GBP CAD CAD 1.6376 GBP to CAD 0.6107 CAD to GBP
GBP GBP KYD KYD 1.0152 GBP to KYD 0.985 KYD to GBP
GBP GBP CLP CLP 1103.4639 GBP to CLP 0.0009 CLP to GBP
GBP GBP COP COP 4981.6146 GBP to COP 0.0002 COP to GBP
GBP GBP CRC CRC 655.9878 GBP to CRC 0.0015 CRC to GBP
GBP GBP DOP DOP 69.0848 GBP to DOP 0.0145 DOP to GBP
GBP GBP SVC SVC 10.9183 GBP to SVC 0.0916 SVC to GBP
GBP GBP FJD FJD 2.8 GBP to FJD 0.3571 FJD to GBP
GBP GBP HNL HNL 30.0395 GBP to HNL 0.0333 HNL to GBP
GBP GBP JMD JMD 188.3574 GBP to JMD 0.0053 JMD to GBP
GBP GBP MXN MXN 21.4809 GBP to MXN 0.0466 MXN to GBP
GBP GBP ANG ANG 2.1956 GBP to ANG 0.4555 ANG to GBP
GBP GBP PYG PYG 8879.8379 GBP to PYG 0.0001 PYG to GBP
GBP GBP PEN PEN 4.6032 GBP to PEN 0.2172 PEN to GBP
GBP GBP TTD TTD 8.2692 GBP to TTD 0.1209 TTD to GBP
GBP GBP USD USD 1.2138 GBP to USD 0.8239 USD to GBP
GBP GBP UYU UYU 46.6554 GBP to UYU 0.0214 UYU to GBP
GBP GBP VEF VEF 4122008.9037 GBP to VEF 0 VEF to GBP
Updated: 2023-09-28
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GBP GBP AUD AUD 1.9039 GBP to AUD 0.5252 AUD to GBP
GBP GBP BDT BDT 134.3347 GBP to BDT 0.0074 BDT to GBP
GBP GBP BND BND 1.67 GBP to BND 0.5988 BND to GBP
GBP GBP CNY CNY 8.8705 GBP to CNY 0.1127 CNY to GBP
GBP GBP INR INR 100.9933 GBP to INR 0.0099 INR to GBP
GBP GBP IDR IDR 18889.4202 GBP to IDR 0.0001 IDR to GBP
GBP GBP JPY JPY 181.348 GBP to JPY 0.0055 JPY to GBP
GBP GBP MYR MYR 5.7143 GBP to MYR 0.175 MYR to GBP
GBP GBP MVR MVR 18.7586 GBP to MVR 0.0533 MVR to GBP
GBP GBP NPR NPR 162.1916 GBP to NPR 0.0062 NPR to GBP
GBP GBP NZD NZD 2.0423 GBP to NZD 0.4897 NZD to GBP
GBP GBP PKR PKR 351.2863 GBP to PKR 0.0028 PKR to GBP
GBP GBP PGK PGK 4.4348 GBP to PGK 0.2255 PGK to GBP
GBP GBP PHP PHP 69.0603 GBP to PHP 0.0145 PHP to GBP
GBP GBP SCR SCR 16.1608 GBP to SCR 0.0619 SCR to GBP
GBP GBP SGD SGD 1.6648 GBP to SGD 0.6007 SGD to GBP
GBP GBP KRW KRW 1644.6485 GBP to KRW 0.0006 KRW to GBP
GBP GBP LKR LKR 394.5315 GBP to LKR 0.0025 LKR to GBP
GBP GBP TWD TWD 39.1394 GBP to TWD 0.0255 TWD to GBP
GBP GBP THB THB 44.6545 GBP to THB 0.0224 THB to GBP
Updated: 2023-09-28
Convert from Convert to 1 GBP Conversion in currency Conversion
GBP GBP BHD BHD 0.4576 GBP to BHD 2.1855 BHD to GBP
GBP GBP EGP EGP 37.5039 GBP to EGP 0.0267 EGP to GBP
GBP GBP HKD HKD 9.4993 GBP to HKD 0.1053 HKD to GBP
GBP GBP ILS ILS 4.6611 GBP to ILS 0.2145 ILS to GBP
GBP GBP JOD JOD 0.8615 GBP to JOD 1.1607 JOD to GBP
GBP GBP KWD KWD 0.3754 GBP to KWD 2.6639 KWD to GBP
GBP GBP LBP LBP 18359.3169 GBP to LBP 0.0001 LBP to GBP
GBP GBP OMR OMR 0.4673 GBP to OMR 2.1399 OMR to GBP
GBP GBP QAR QAR 4.4193 GBP to QAR 0.2263 QAR to GBP
GBP GBP SAR SAR 4.5521 GBP to SAR 0.2197 SAR to GBP
GBP GBP AED AED 4.4581 GBP to AED 0.2243 AED to GBP
GBP GBP YER YER 303.9205 GBP to YER 0.0033 YER to GBP
Updated: 2023-09-28
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GBP GBP DZD DZD 166.9522 GBP to DZD 0.006 DZD to GBP
GBP GBP KES KES 179.5751 GBP to KES 0.0056 KES to GBP
GBP GBP MUR MUR 54.0179 GBP to MUR 0.0185 MUR to GBP
GBP GBP MAD MAD 12.5261 GBP to MAD 0.0798 MAD to GBP
GBP GBP NAD NAD 23.2921 GBP to NAD 0.0429 NAD to GBP
GBP GBP NIO NIO 44.5788 GBP to NIO 0.0224 NIO to GBP
GBP GBP NGN NGN 949.8484 GBP to NGN 0.0011 NGN to GBP
GBP GBP SLL SLL 23971.6828 GBP to SLL 0 SLL to GBP
GBP GBP ZAR ZAR 23.2892 GBP to ZAR 0.0429 ZAR to GBP
GBP GBP TZS TZS 3040.4591 GBP to TZS 0.0003 TZS to GBP
GBP GBP TND TND 3.8673 GBP to TND 0.2586 TND to GBP
GBP GBP UGX UGX 4574.4167 GBP to UGX 0.0002 UGX to GBP
GBP GBP XOF XOF 757.163 GBP to XOF 0.0013 XOF to GBP
GBP GBP ZMK ZMK 10925.2683 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
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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