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British Pound Sterling (GBP) Exchange Rates on 02nd December 2024 (02/12/2024)

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Exchange rates for British Pound Sterling (GBP)

Updated: 2024-12-02
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 2.3457 GBP to BGN 0.4263 BGN to GBP
GBP GBP HRK HRK 9.0503 GBP to HRK 0.1105 HRK to GBP
GBP GBP CZK CZK 30.4613 GBP to CZK 0.0328 CZK to GBP
GBP GBP DKK DKK 8.9948 GBP to DKK 0.1112 DKK to GBP
GBP GBP EEK EEK 0 GBP to EEK 0 EEK to GBP
GBP GBP HUF HUF 499.3162 GBP to HUF 0.002 HUF to GBP
GBP GBP KZT KZT 657.5667 GBP to KZT 0.0015 KZT to GBP
GBP GBP LVL LVL 0.7675 GBP to LVL 1.303 LVL to GBP
GBP GBP LTL LTL 0 GBP to LTL 0 LTL to GBP
GBP GBP MKD MKD 74.1339 GBP to MKD 0.0135 MKD to GBP
GBP GBP MDL MDL 23.29 GBP to MDL 0.0429 MDL to GBP
GBP GBP NOK NOK 14.0813 GBP to NOK 0.071 NOK to GBP
GBP GBP PLN PLN 5.1845 GBP to PLN 0.1929 PLN to GBP
GBP GBP RON RON 5.9992 GBP to RON 0.1667 RON to GBP
GBP GBP RUB RUB 135.8051 GBP to RUB 0.0074 RUB to GBP
GBP GBP SKK SKK 0 GBP to SKK 0 SKK to GBP
GBP GBP SEK SEK 13.9022 GBP to SEK 0.0719 SEK to GBP
GBP GBP CHF CHF 1.1227 GBP to CHF 0.8907 CHF to GBP
GBP GBP TRY TRY 44.0357 GBP to TRY 0.0227 TRY to GBP
GBP GBP UAH UAH 52.7475 GBP to UAH 0.019 UAH to GBP
Updated: 2024-12-02
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GBP GBP ARS ARS 1285.6863 GBP to ARS 0.0008 ARS to GBP
GBP GBP BOB BOB 8.7943 GBP to BOB 0.1137 BOB to GBP
GBP GBP BRL BRL 7.6073 GBP to BRL 0.1315 BRL to GBP
GBP GBP CAD CAD 1.7809 GBP to CAD 0.5615 CAD to GBP
GBP GBP KYD KYD 1.0605 GBP to KYD 0.9429 KYD to GBP
GBP GBP CLP CLP 1235.9913 GBP to CLP 0.0008 CLP to GBP
GBP GBP COP COP 5614.2088 GBP to COP 0.0002 COP to GBP
GBP GBP CRC CRC 646.7784 GBP to CRC 0.0015 CRC to GBP
GBP GBP DOP DOP 76.8471 GBP to DOP 0.013 DOP to GBP
GBP GBP SVC SVC 11.0961 GBP to SVC 0.0901 SVC to GBP
GBP GBP FJD FJD 2.8725 GBP to FJD 0.3481 FJD to GBP
GBP GBP HNL HNL 32.1992 GBP to HNL 0.0311 HNL to GBP
GBP GBP JMD JMD 200.5155 GBP to JMD 0.005 JMD to GBP
GBP GBP MXN MXN 25.9423 GBP to MXN 0.0385 MXN to GBP
GBP GBP ANG ANG 2.2936 GBP to ANG 0.436 ANG to GBP
GBP GBP PYG PYG 9938.954 GBP to PYG 0.0001 PYG to GBP
GBP GBP PEN PEN 4.7666 GBP to PEN 0.2098 PEN to GBP
GBP GBP TTD TTD 8.5928 GBP to TTD 0.1164 TTD to GBP
GBP GBP USD USD 1.2706 GBP to USD 0.7871 USD to GBP
GBP GBP UYU UYU 54.3278 GBP to UYU 0.0184 UYU to GBP
GBP GBP VEF VEF 4601886.2532 GBP to VEF 0 VEF to GBP
Updated: 2024-12-02
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GBP GBP AUD AUD 1.9537 GBP to AUD 0.5118 AUD to GBP
GBP GBP BDT BDT 152.0778 GBP to BDT 0.0066 BDT to GBP
GBP GBP BND BND 1.7049 GBP to BND 0.5865 BND to GBP
GBP GBP CNY CNY 9.2205 GBP to CNY 0.1085 CNY to GBP
GBP GBP INR INR 107.4731 GBP to INR 0.0093 INR to GBP
GBP GBP IDR IDR 20188.3173 GBP to IDR 0 IDR to GBP
GBP GBP JPY JPY 191.0321 GBP to JPY 0.0052 JPY to GBP
GBP GBP MYR MYR 5.665 GBP to MYR 0.1765 MYR to GBP
GBP GBP MVR MVR 19.6146 GBP to MVR 0.051 MVR to GBP
GBP GBP NPR NPR 172.236 GBP to NPR 0.0058 NPR to GBP
GBP GBP NZD NZD 2.1523 GBP to NZD 0.4646 NZD to GBP
GBP GBP PKR PKR 353.8668 GBP to PKR 0.0028 PKR to GBP
GBP GBP PGK PGK 5.1341 GBP to PGK 0.1948 PGK to GBP
GBP GBP PHP PHP 74.5739 GBP to PHP 0.0134 PHP to GBP
GBP GBP SCR SCR 18.1891 GBP to SCR 0.055 SCR to GBP
GBP GBP SGD SGD 1.7068 GBP to SGD 0.5859 SGD to GBP
GBP GBP KRW KRW 1781.1159 GBP to KRW 0.0006 KRW to GBP
GBP GBP LKR LKR 369.8867 GBP to LKR 0.0027 LKR to GBP
GBP GBP TWD TWD 41.2345 GBP to TWD 0.0243 TWD to GBP
GBP GBP THB THB 43.5723 GBP to THB 0.023 THB to GBP
Updated: 2024-12-02
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GBP GBP BHD BHD 0.4798 GBP to BHD 2.0843 BHD to GBP
GBP GBP EGP EGP 63.2626 GBP to EGP 0.0158 EGP to GBP
GBP GBP HKD HKD 9.874 GBP to HKD 0.1013 HKD to GBP
GBP GBP ILS ILS 4.6137 GBP to ILS 0.2167 ILS to GBP
GBP GBP JOD JOD 0.8997 GBP to JOD 1.1115 JOD to GBP
GBP GBP KWD KWD 0.39 GBP to KWD 2.5638 KWD to GBP
GBP GBP LBP LBP 113965.8004 GBP to LBP 0 LBP to GBP
GBP GBP OMR OMR 0.4907 GBP to OMR 2.0378 OMR to GBP
GBP GBP QAR QAR 4.6389 GBP to QAR 0.2156 QAR to GBP
GBP GBP SAR SAR 4.7667 GBP to SAR 0.2098 SAR to GBP
GBP GBP AED AED 4.6601 GBP to AED 0.2146 AED to GBP
GBP GBP YER YER 318.149 GBP to YER 0.0031 YER to GBP
Updated: 2024-12-02
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GBP GBP DZD DZD 169.9868 GBP to DZD 0.0059 DZD to GBP
GBP GBP KES KES 165.1275 GBP to KES 0.0061 KES to GBP
GBP GBP MUR MUR 59.2249 GBP to MUR 0.0169 MUR to GBP
GBP GBP MAD MAD 12.7322 GBP to MAD 0.0785 MAD to GBP
GBP GBP NAD NAD 22.9511 GBP to NAD 0.0436 NAD to GBP
GBP GBP NIO NIO 46.8343 GBP to NIO 0.0214 NIO to GBP
GBP GBP NGN NGN 2138.4508 GBP to NGN 0.0005 NGN to GBP
GBP GBP SLL SLL 26642.84 GBP to SLL 0 SLL to GBP
GBP GBP ZAR ZAR 22.9468 GBP to ZAR 0.0436 ZAR to GBP
GBP GBP TZS TZS 3347.9119 GBP to TZS 0.0003 TZS to GBP
GBP GBP TND TND 3.9876 GBP to TND 0.2508 TND to GBP
GBP GBP UGX UGX 4679.9977 GBP to UGX 0.0002 UGX to GBP
GBP GBP XOF XOF 787.5514 GBP to XOF 0.0013 XOF to GBP
GBP GBP ZMK ZMK 11436.4857 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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