GBP · £
British Pound (GBP)
The British Pound (GBP) is the official currency of the United Kingdom and its territories. It is one of the world's oldest currencies still in use and a major global reserve currency.
Convert this currency
Converted amount
1.3492 USD
Exchange rate
1 GBP = 1.349236 USD
Updated
8/9/2026 12:00 AM
Source
ApiForex Managed Source 3
GBP · British Pound
British Pound (GBP) - Overview, History, and Role
The British Pound Sterling, commonly abbreviated as GBP, is the official currency of the United Kingdom, including England, Scotland, Wales, and Northern Ireland, as well as several British Overseas Territories. It is the world's oldest currency still in continuous use, with origins dating back over 1,200 years. The pound is subdivided into 100 pence, and its symbol is £. As a major global reserve currency, it plays a significant role in international trade and finance.
The pound's history is marked by significant events, including the introduction of decimalisation in 1971, which replaced the old system of shillings and pence. The Bank of England, established in 1694, is the central bank responsible for issuing banknotes and setting monetary policy. Over the centuries, the pound has weathered economic crises, wars, and political changes, maintaining its status as a symbol of economic stability and tradition.
Today, the GBP is one of the most traded currencies in the foreign exchange market, alongside the US dollar, euro, and Japanese yen. Its value is influenced by various factors, including economic indicators, political events, and market sentiment. While the pound is not pegged to any other currency, its exchange rate fluctuates freely. For individuals and businesses, understanding the pound's role and history is essential for navigating international transactions and investments.
- Code
- GBP
- Symbol
- £
- Current rate
- USD / GBP
Currency information
Last updated · 8/7/2026
The pound sterling has a long history dating back to Anglo-Saxon times. The Bank of England was established in 1694 and has issued banknotes since then.
- Official name
- Pound Sterling
- Legal tender status
- Legal tender in the United Kingdom and its territories
- Decimal places
- 2
- Minor unit
- Penny · 1 GBP = 100 Penny
- Countries
- United Kingdom
- Territories
- British Antarctic Territory, British Indian Ocean Territory, Falkland Islands, Gibraltar, Guernsey, Isle of Man, Jersey, Saint Helena, Ascension and Tristan da Cunha, South Georgia and the South Sandwich Islands
- Issuing authority
- Bank of England
- Central bank
- Bank of England · Official website
- Exchange-rate regime
- Free-floating
Common banknotes
£5 · £10 · £20 · £50
Common coins
1p · 2p · 5p · 10p · 20p · 50p · £1 · £2
Also known as
Sterling · Quid · British pound · Pound sterling · GBP · £ · Livre sterling
Practical notes
- The symbol £ is derived from the Latin word 'libra'.
- The pound is subdivided into 100 pence.
- Banknotes are issued in denominations of £5, £10, £20, and £50.
Priority currency pairs
The most useful conversions for this currency.
British Pound questions
What is the GBP exchange rate?
The displayed rate is the latest available reference rate for USD/GBP. It can change throughout the day.
How can I convert GBP online?
Use the converter above to calculate indicative amounts between GBP and the other supported currencies.