Several countries use the U.S. dollar as their official currency, and many others allow it to be used in a de facto capacity. Our currency rankings show that the most popular US Dollar exchange rate is the USD to USD rate. These percentages show how much the interactive brokers forex review exchange rate has fluctuated over the last 30 and 90-day periods. These are the lowest points the exchange rate has been at in the last 30 and 90-day periods. These are the highest points the exchange rate has been at in the last 30 and 90-day periods.

The vote to leave the EU was seen as negative for the British economy, as it would be forced to renegotiate trade deals, and this uncertainty led to investors pulling money out of the U.K. Exchange-rates.org has been a leading provider of currency, cryptocurrency and precious metal prices for nearly 20 years. Our information is trusted by millions of users across the globe each month . We have been featured in some of the most prestigious financial publications in the world including Business Insider, Investopedia, Washington Post, and CoinDesk. The U.S. dollar is the currency most used in international transactions.

1. This website is using a security service to protect itself from online attacks.
2. Our information is trusted by millions of users across the globe each month .
3. Several countries use the U.S. dollar as their official currency, and many others allow it to be used in a de facto capacity.
4. The U.S. dollar is the currency most used in international transactions.
5. In the 21st century, the pound has continued to trend downward, ranging from a high of $2.08 to a present value just above $1.08.

Although the British pound has been historically stronger than the U.S. dollar, it has steadily weakened from a pre-World War II value of around $5 to the present value of around $1.28 as of June 2023. This is likely due to the relative decline of British economic power and the loss of most of the U.K.’s overseas colonies, combined with the increasing strength of the U.S. economy. From the last half of 2008 to early 2009, the British pound fell from $2.10 to below $1.40, losing over a third of its value.

They add hidden markups to their exchange rates – charging you more without your knowledge. And if they have a fee, they charge you twice. Banks often advertise free or low-cost transfers, but add a hidden markup to the exchange rate. Wise gives you the real, mid-market, exchange rate, so you can make huge savings on your international money transfers. GBP/USD refers to the currency pair of the U.S. dollar and the British pound, which is among the most widely traded in the world. The current value of the GBP/USD pair shows how many U.S. dollars are needed to purchase one British pound.

Understanding the GBP/USD (British Pound/U.S. Dollar)

The GBP/USD (British pound/U.S. dollar) is an abbreviation for the British pound and U.S. dollar currency pair, or cross. The currency pair shows how many U.S. dollars (the quote currency) are needed to purchase one British pound (the base currency). You’ll now see the value of the converted currency according to fxpcm the most recent exchange rate. Live tracking and notifications + flexible delivery and payment options. The GBP/USD had another sharp decline in June 2016, when Britain voted to leave the European Union. The GBP/USD pair fell 10% in one trading session and lost nearly 20% in the month preceding the Brexit vote.

It is affected by factors that influence the value of the British pound and/or the U.S. dollar in relation to each other and other currencies. For this reason, the interest rate differential between the Bank of England (BoE) and the Federal Reserve will affect the value of these currencies when compared with each other. The GBP/USD tends to have a negative correlation with the USD/CHF and a positive correlation with the EUR/USD currency pairs.

Also, it’s best to convert British Pounds to US Dollars early in the week if you need US Dollars urgently. If you execute a trade late in the week, it might not settle until the following week given that forex bitmex review markets are closed on weekends. Create a chart for any currency pair in the world to see their currency history. These currency charts use live mid-market rates, are easy to use, and are very reliable.

Xe Currency Charts

Michael received a Bachelor of Arts in literature from the University of Wisconsin-Madison and a master’s in linguistics from the Universidad de Antioquia in Medellin, Colombia. In the last 10 years, the highest rate from British Pounds to US Dollars was on June 18, 2015 when each British Pound was worth $1.5881 USD. To view rates between the British Pound and the US Dollar for a particular year, click on one of the links below.

Many factors affect the GBP/USD rate, including economic indicators and actions by the central banks in both countries to boost or devalue their currency. Check live rates, send money securely, set rate alerts, receive notifications and more. The GBP and USD can be traded 24×5 starting from the time markets open on Monday mornings in Sydney all the way to the time markets close on Fridays at 5 pm in New York. Exchange rates can fluctuate by the minute while markets are open. However, the time between 3-4 PM GMT is often a good time to convert British Pounds to US Dollars because currency market liquidity and trading volume tend to be the highest during this time.

British pounds sterling to US dollars today

This is due to the positive correlation of the euro, Swiss franc, and the British pound. GBP/USD is the third-largest trading pair, accounting for about 11% of the total forex market as of 2023. Trading the GBP/USD currency pair is also known as trading the “cable.”

We partner with leading data providers to bring you the latest and most accurate prices for all major currencies, cryptocurrencies and precious metals. The pound is the official currency of the United Kingdom of Great Britain and Northern Ireland. The pound sterling is the fourth most-traded currency in the foreign exchange market. In order to convert British pounds into U.S. dollars, simply multiply the number of pounds by the GBP/USD exchange rate on the day of conversion.

For example, if you were converting 800 British pounds into U.S. dollars on June 17, 2023, you would multiply £800 x $1.28 (the exchange rate for the day) to get $1,024. To convert from dollars to pounds, you would simply divide by the exchange rate, rather than multiply. You can send a variety of international currencies to multiple countries reliably, quickly, and safely, and at a rate cheaper than most banks. Compare our rate and fee with our competitors and see the difference for yourself.

Need to know when a currency hits a specific rate? The Xe Rate Alerts will let you know when the rate you need is triggered on your selected currency pairs. These are the average exchange rates of these two currencies for the last 30 and 90 days. You can trade GBP and USD, along with any other currency pairing, through a forex broker.