GBP To USD: Convert British Pound Sterling to United States Dollar - Forbes Advisor (2024)

FAQs

How is the British pound doing against the US dollar? ›

British Pound to US Dollar Exchange Rate is at a current level of 1.314, down from 1.316 the previous market day and up from 1.248 one year ago. This is a change of -0.22% from the previous market day and 5.21% from one year ago.

To convert Pounds (£) to Dollars ($, USD), we multiply the given value of Pounds by 1.36 because of 1 British Pound Sterling = 1.36 US Dollars. Want to find complex math solutions within seconds? Use our free online calculator to solve challenging questions.

In this scenario, 1.3200 (static level) could be seen as next resistance before 1.3260 (end-point of the uptrend). If GBP/USD retreats below 1.3130 and fails to reclaim this level, 1.3110-1.3100 (50-period SMA, static level) could act as next support ahead of 1.3040 (Fibonacci 38.2% retracement).

Since hitting a low of 1.0500 in 2022, GBP/USD has made substantial gains, trading between 1.2000 and 1.4000 during most of the post-Brexit era. Recently, it has been trending towards the upper range of 1.4000, indicating a strong recovery and growing investor confidence.

The Kuwaiti Dinar is renowned as the strongest currency in the world. Introduced in 1961, it has maintained a commanding presence due to Kuwait's substantial oil reserves, which account for a significant portion of its economic output.

US Dollar to British Pound Exchange Rate is at a current level of 0.7610, down from 0.7645 the previous market day and down from 0.8058 one year ago. This is a change of -0.45% from the previous market day and -5.56% from one year ago.

Best day of the week to exchange currency

According to data from WeSwap and The Telegraph, you'll generally enjoy the best currency exchange rates on Fridays and Saturdays. Currency can fluctuate throughout the day too, with the morning or late afternoon cited as the best times to buy.

Sterling also recorded its fourth weekly fall against the euro, having dropped to €1.1663 against the single currency. Currency analysts said the Bank of England's interest rate cut last week has put pressure on the pound, as had expectations of one or two more cuts before the end of 2024.

The USD to GBP exchange rate history reveals a notably strong dollar against pound in 2022, with values being higher than during COVID-19 or Brexit. In January 2021, for example, one U.S. dollar could buy less than 0.80 British pounds. This had changed to a value of 0.76 British pounds by September 13, 2024.

What is the exact rate of GBP to USD? ›

1 GBP = 1.320535 USD Sep 17, 2024 05:58 UTC

The currency converter below is easy to use and the currency rates are updated frequently.

It is easy to confuse whether you need to multiply or divide by the exchange rate. One way to remember is with the rule: If you are going from the “1” to the other currency then multiply. If you are going to the “1” from the other currency then divide.

Higher rates in the UK increase the pound's value, because it can attract more overseas investment. This creates more demand for sterling, pushing up its value relative to other currencies.

WalletInvestor. WalletInvestor analysts suggest a bearish outlook for the GBP/USD pair in 2024, forecasting a decline to 1.235 from 1.272. The analysis indicates a steady downward trend, suggesting a weaker pound against the US dollar.

Analysts' GBP/USD Projections for 2025

Some projections indicate a potential rate of around 1.32 by the end of 2025, driven more by USD weakness than by strong GBP fundamentals.

The sterling has been in a long downward slide against the greenback for many decades, owing to the USD's rise to prominence, the growth of its economy, and GBP negatives, such as Brexit and a widening interest rate gap against the sterling, to name a few current factors.

Although the British pound is worth more than the U.S. dollar on a nominal basis, the dollar is still a stronger currency due to its status as the world's reserve currency and its greater volume of trading in the forex markets.

1 USD = 0.757441 GBP Sep 17, 2024 04:18 UTC

The currency converter below is easy to use and the currency rates are updated frequently.