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British Pound Sterling (GBP) Exchange Rates on 21st November 2024 (21/11/2024)

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Exchange rates for British Pound Sterling (GBP)

Updated: 2024-11-21
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 2.3459 GBP to BGN 0.4263 BGN to GBP
GBP GBP HRK HRK 9.0272 GBP to HRK 0.1108 HRK to GBP
GBP GBP CZK CZK 30.3347 GBP to CZK 0.033 CZK to GBP
GBP GBP DKK DKK 8.9462 GBP to DKK 0.1118 DKK to GBP
GBP GBP EEK EEK 0 GBP to EEK 0 EEK to GBP
GBP GBP HUF HUF 491.5104 GBP to HUF 0.002 HUF to GBP
GBP GBP KZT KZT 629.1782 GBP to KZT 0.0016 KZT to GBP
GBP GBP LVL LVL 0.7655 GBP to LVL 1.3063 LVL to GBP
GBP GBP LTL LTL 0 GBP to LTL 0 LTL to GBP
GBP GBP MKD MKD 73.7838 GBP to MKD 0.0136 MKD to GBP
GBP GBP MDL MDL 23.0511 GBP to MDL 0.0434 MDL to GBP
GBP GBP NOK NOK 13.9822 GBP to NOK 0.0715 NOK to GBP
GBP GBP PLN PLN 5.2003 GBP to PLN 0.1923 PLN to GBP
GBP GBP RON RON 5.9695 GBP to RON 0.1675 RON to GBP
GBP GBP RUB RUB 127.1943 GBP to RUB 0.0079 RUB to GBP
GBP GBP SKK SKK 0 GBP to SKK 0 SKK to GBP
GBP GBP SEK SEK 13.9363 GBP to SEK 0.0718 SEK to GBP
GBP GBP CHF CHF 1.1172 GBP to CHF 0.8951 CHF to GBP
GBP GBP TRY TRY 43.6489 GBP to TRY 0.0229 TRY to GBP
GBP GBP UAH UAH 52.2266 GBP to UAH 0.0191 UAH to GBP
Updated: 2024-11-21
Convert from Convert to 1 GBP Conversion in currency Conversion
GBP GBP ARS ARS 1268.983 GBP to ARS 0.0008 ARS to GBP
GBP GBP BOB BOB 8.7709 GBP to BOB 0.114 BOB to GBP
GBP GBP BRL BRL 7.3101 GBP to BRL 0.1368 BRL to GBP
GBP GBP CAD CAD 1.7673 GBP to CAD 0.5658 CAD to GBP
GBP GBP KYD KYD 1.0555 GBP to KYD 0.9474 KYD to GBP
GBP GBP CLP CLP 1232.3757 GBP to CLP 0.0008 CLP to GBP
GBP GBP COP COP 5563.9259 GBP to COP 0.0002 COP to GBP
GBP GBP CRC CRC 643.1972 GBP to CRC 0.0016 CRC to GBP
GBP GBP DOP DOP 76.3916 GBP to DOP 0.0131 DOP to GBP
GBP GBP SVC SVC 11.0821 GBP to SVC 0.0902 SVC to GBP
GBP GBP FJD FJD 2.8717 GBP to FJD 0.3482 FJD to GBP
GBP GBP HNL HNL 32.0063 GBP to HNL 0.0312 HNL to GBP
GBP GBP JMD JMD 200.76 GBP to JMD 0.005 JMD to GBP
GBP GBP MXN MXN 25.6855 GBP to MXN 0.0389 MXN to GBP
GBP GBP ANG ANG 2.2826 GBP to ANG 0.4381 ANG to GBP
GBP GBP PYG PYG 9919.2216 GBP to PYG 0.0001 PYG to GBP
GBP GBP PEN PEN 4.8065 GBP to PEN 0.2081 PEN to GBP
GBP GBP TTD TTD 8.5753 GBP to TTD 0.1166 TTD to GBP
GBP GBP USD USD 1.2655 GBP to USD 0.7902 USD to GBP
GBP GBP UYU UYU 54.1445 GBP to UYU 0.0185 UYU to GBP
GBP GBP VEF VEF 4597370.6773 GBP to VEF 0 VEF to GBP
Updated: 2024-11-21
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GBP GBP AUD AUD 1.9424 GBP to AUD 0.5148 AUD to GBP
GBP GBP BDT BDT 151.3575 GBP to BDT 0.0066 BDT to GBP
GBP GBP BND BND 1.701 GBP to BND 0.5879 BND to GBP
GBP GBP CNY CNY 9.1653 GBP to CNY 0.1091 CNY to GBP
GBP GBP INR INR 106.8506 GBP to INR 0.0094 INR to GBP
GBP GBP IDR IDR 20170.5308 GBP to IDR 0 IDR to GBP
GBP GBP JPY JPY 196.2557 GBP to JPY 0.0051 JPY to GBP
GBP GBP MYR MYR 5.6511 GBP to MYR 0.177 MYR to GBP
GBP GBP MVR MVR 19.5649 GBP to MVR 0.0511 MVR to GBP
GBP GBP NPR NPR 170.9597 GBP to NPR 0.0058 NPR to GBP
GBP GBP NZD NZD 2.1528 GBP to NZD 0.4645 NZD to GBP
GBP GBP PKR PKR 352.0985 GBP to PKR 0.0028 PKR to GBP
GBP GBP PGK PGK 5.0988 GBP to PGK 0.1961 PGK to GBP
GBP GBP PHP PHP 74.5999 GBP to PHP 0.0134 PHP to GBP
GBP GBP SCR SCR 17.238 GBP to SCR 0.058 SCR to GBP
GBP GBP SGD SGD 1.699 GBP to SGD 0.5886 SGD to GBP
GBP GBP KRW KRW 1768.9389 GBP to KRW 0.0006 KRW to GBP
GBP GBP LKR LKR 368.4999 GBP to LKR 0.0027 LKR to GBP
GBP GBP TWD TWD 41.2366 GBP to TWD 0.0243 TWD to GBP
GBP GBP THB THB 43.8897 GBP to THB 0.0228 THB to GBP
Updated: 2024-11-21
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GBP GBP BHD BHD 0.477 GBP to BHD 2.0964 BHD to GBP
GBP GBP EGP EGP 62.9327 GBP to EGP 0.0159 EGP to GBP
GBP GBP HKD HKD 9.849 GBP to HKD 0.1015 HKD to GBP
GBP GBP ILS ILS 4.7296 GBP to ILS 0.2114 ILS to GBP
GBP GBP JOD JOD 0.8974 GBP to JOD 1.1144 JOD to GBP
GBP GBP KWD KWD 0.3892 GBP to KWD 2.5696 KWD to GBP
GBP GBP LBP LBP 113432.078 GBP to LBP 0 LBP to GBP
GBP GBP OMR OMR 0.4872 GBP to OMR 2.0524 OMR to GBP
GBP GBP QAR QAR 4.6187 GBP to QAR 0.2165 QAR to GBP
GBP GBP SAR SAR 4.7516 GBP to SAR 0.2105 SAR to GBP
GBP GBP AED AED 4.6482 GBP to AED 0.2151 AED to GBP
GBP GBP YER YER 316.2808 GBP to YER 0.0032 YER to GBP
Updated: 2024-11-21
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GBP GBP DZD DZD 169.161 GBP to DZD 0.0059 DZD to GBP
GBP GBP KES KES 164.0177 GBP to KES 0.0061 KES to GBP
GBP GBP MUR MUR 58.8332 GBP to MUR 0.017 MUR to GBP
GBP GBP MAD MAD 12.6529 GBP to MAD 0.079 MAD to GBP
GBP GBP NAD NAD 22.9727 GBP to NAD 0.0435 NAD to GBP
GBP GBP NIO NIO 46.608 GBP to NIO 0.0215 NIO to GBP
GBP GBP NGN NGN 2126.8055 GBP to NGN 0.0005 NGN to GBP
GBP GBP SLL SLL 26537.0022 GBP to SLL 0 SLL to GBP
GBP GBP ZAR ZAR 22.9246 GBP to ZAR 0.0436 ZAR to GBP
GBP GBP TZS TZS 3356.5853 GBP to TZS 0.0003 TZS to GBP
GBP GBP TND TND 3.9978 GBP to TND 0.2501 TND to GBP
GBP GBP UGX UGX 4674.047 GBP to UGX 0.0002 UGX to GBP
GBP GBP XOF XOF 787.1482 GBP to XOF 0.0013 XOF to GBP
GBP GBP ZMK ZMK 11391.0811 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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