The pound to US dollar exchange rate is also known as (GBP/USD)
Use the currency converter below to give you the current GBP/USD interbank exchange rate:
1 =Real exchange rate
start from the left and select from the first box the currency you wish to exchange, either US dollars or British pounds and enter the amount that you wish to exchange
so either US dollars (USD) or British pounds (GBP)
Click on convert and you will see the equivalent pop up in the amount box on the right. All done!
Your Best Exchange Rate
The pound to us dollar exchange rate can be impacted by a number of factors, both economic and political events taking place in the countries that transact in these currencies. This in turn causes volatility in the exchange rate.
Take for example, the Brexit vote impact on the value of the pound against the Us dollar in 2016
The pound fell more than 10% against the US dollar as the result of the Brexit vote came through.
The pound against the us dollar is known as a currency pair. It is the value that one unit of the currency is against another. It can either be quoted as one dollar is equal to a certain amount in pounds or the other way round where one pound is equal to a certain amount of dollars. Also referred to as the inverse.
As the pound to us dollar currency pair moves, one currency is either gaining or losing strength against another.
If the pound is weakening against the dollar, then it means that the pound value is falling against the us dollar, therefore you are getting less pounds for every us dollar that you sell, or if you are buying dollars, then you are getting less dollars for every pound you sell.
The reverse applies if the pound is strengthening against the dollar, where you would receive more dollars for every pound that you sell, or if you are selling dollars, you would receive less pounds for every dollar that you sell.
When there are big movements in currency pairs, we express this with the term of volatility. Volatility can be explained as the changeable and unpredictable movement of exchange rates in the foreign exchange market. Given the recent political and economic landscape of both the US and the UK, it has not been uncommon to see movements in the pound to us dollar exchange rate exceeding 1% per day.
If you were considering transferring pounds to us dollars, a movement of even 1% could be the difference of £1000 on £100,000 into us dollars. That's a lot of money that can be gained or lost just by the movement in the exchange rates!
No one has a crystal ball to work out the future of the pound to us dollar exchange rate. So the clear answer is no.
There are lots of analysts working at banks, that try their best to forecast the exchange rates and many work on the basis of charting and technical analysis. They too get their predictions wrong.
Although everyone would like to exchange currency at the most optimal time, it is not always the case. It is advised not to rely on forecasts when transferring pounds to us dollars or any other currency.
Timing is key. We cannot depend on forecasts, there is a route where one can monitor the live pound to us dollar exchange rate, and with eyes and ears on the foreign exchange market, this can help you when the pound against the us dollar is in your favour.
An online currency specialist not only can give you access to great value when you send money abroad, but they can also monitor the market movements, and this service alone could save you time and money.
We can contact you via email or phone, you can also decide how you would like to be kept in touch.
When you are ready to transact, you can either trade directly via our online platform at the interbank pound to us dollar exchange rate without any hidden fees.