This is the latest exchange rate for the British Pound today which is the official currency of United Kingdom. The currency is the Pound Sterling with symbol code: GBP.

The GBP exchange rate is affected by economic conditions within United Kingdom. Things such as interest rate changes, GDP and unemployment can affect the British Pound currency. Economic policies in United Kingdom are set by the Bank OF England at regular meetings throughout the year.

This table displays other common conversions of the British Pound in US Dollars.

About The British Pound

The British pound is the oldest currency in the world that is still in use today. It was first used in the UK in 757 during the reign of King Offa. It is also referred to as pound sterling, and this comes from the fact that one pound was made up of 240 pennies, which was the equivalent of a pound of silver. In 1971 the UK introduced decimalisation, and this system is still in use today. £1 is now made up of 100 pennies.

The central bank for pound sterling is the Bank of England, and it is responsible for issuing all notes, coins and economic policies which can affect the GBP exchange rate. The currency is used throughout the United Kingdom and also in other territories that belong to the UK including Jersey, Guernsey, Saint Helena and the Falkland Islands. The bank is located in the heart of London’s financial district, and has issued bank notes since 1694.

Notes are found in denominations that are higher than £5 and include £5, £10, £20 and £50 notes. Coins are available in denominations of £2, £1, 50p, 20p, 10p, 5p, 2p and 1p. The Queen features on every note and coin, with other notable figures from British history appearing on the notes. In 2008 new coins were introduced that form the Royal Shield when they are placed together.

Historical British Pound Exchange Rate Chart