British Pound Sterling (GBP) Exchange Rates on 21st October 2019 (21/10/2019)

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Exchange rates for British Pound Sterling (GBP)

Updated: 2019-10-21
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GBP BGN 2.4614 GBP to BGN 0.4063 BGN to GBP
GBP HRK 9.5657 GBP to HRK 0.1045 HRK to GBP
GBP CZK 34.6412 GBP to CZK 0.0289 CZK to GBP
GBP DKK 9.341 GBP to DKK 0.1071 DKK to GBP
GBP HUF 394.306 GBP to HUF 0.0025 HUF to GBP
GBP KZT 295.1374 GBP to KZT 0.0034 KZT to GBP
GBP LVL 0.8817 GBP to LVL 1.1342 LVL to GBP
GBP LTL 4.3331 GBP to LTL 0.2308 LTL to GBP
GBP MKD 77.0415 GBP to MKD 0.013 MKD to GBP
GBP MDL 23.1884 GBP to MDL 0.0431 MDL to GBP
GBP NOK 10.3477 GBP to NOK 0.0966 NOK to GBP
GBP PLN 5.2672 GBP to PLN 0.1899 PLN to GBP
GBP RON 5.5441 GBP to RON 0.1804 RON to GBP
GBP RUB 60.9005 GBP to RUB 0.0164 RUB to GBP
GBP SEK 11.5637 GBP to SEK 0.0865 SEK to GBP
GBP CHF 1.5177 GBP to CHF 0.6589 CHF to GBP
GBP TRY 3.5699 GBP to TRY 0.2801 TRY to GBP
GBP UAH 21.0482 GBP to UAH 0.0475 UAH to GBP
Updated: 2019-10-21
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GBP ARS 13.6262 GBP to ARS 0.0734 ARS to GBP
GBP BOB 11.2046 GBP to BOB 0.0892 BOB to GBP
GBP BRL 3.7121 GBP to BRL 0.2694 BRL to GBP
GBP CAD 1.792 GBP to CAD 0.558 CAD to GBP
GBP KYD 1.3297 GBP to KYD 0.752 KYD to GBP
GBP CLP 955.3438 GBP to CLP 0.001 CLP to GBP
GBP COP 3203.383 GBP to COP 0.0003 COP to GBP
GBP CRC 878.7384 GBP to CRC 0.0011 CRC to GBP
GBP DOP 70.831 GBP to DOP 0.0141 DOP to GBP
GBP SVC 14.1841 GBP to SVC 0.0705 SVC to GBP
GBP FJD 2.9934 GBP to FJD 0.3341 FJD to GBP
GBP HNL 34.2961 GBP to HNL 0.0292 HNL to GBP
GBP JMD 182.5066 GBP to JMD 0.0055 JMD to GBP
GBP MXN 21.4372 GBP to MXN 0.0466 MXN to GBP
GBP ANG 2.9026 GBP to ANG 0.3445 ANG to GBP
GBP PYG 6963.4329 GBP to PYG 0.0001 PYG to GBP
GBP PEN 4.6296 GBP to PEN 0.216 PEN to GBP
GBP TTD 10.294 GBP to TTD 0.0971 TTD to GBP
GBP USD 1.6216 GBP to USD 0.6167 USD to GBP
GBP UYU 39.291 GBP to UYU 0.0255 UYU to GBP
GBP VEF 10.1961 GBP to VEF 0.0981 VEF to GBP
Updated: 2019-10-21
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GBP AUD 1.7834 GBP to AUD 0.5607 AUD to GBP
GBP BDT 125.5836 GBP to BDT 0.008 BDT to GBP
GBP BND 2.0483 GBP to BND 0.4882 BND to GBP
GBP CNY 9.9404 GBP to CNY 0.1006 CNY to GBP
GBP INR 98.6821 GBP to INR 0.0101 INR to GBP
GBP IDR 19247.7589 GBP to IDR 0.0001 IDR to GBP
GBP JPY 173.616 GBP to JPY 0.0058 JPY to GBP
GBP MYR 5.1777 GBP to MYR 0.1931 MYR to GBP
GBP MVR 24.9239 GBP to MVR 0.0401 MVR to GBP
GBP NPR 158.1823 GBP to NPR 0.0063 NPR to GBP
GBP NZD 1.9856 GBP to NZD 0.5036 NZD to GBP
GBP PKR 165.8887 GBP to PKR 0.006 PKR to GBP
GBP PGK 4.0138 GBP to PGK 0.2491 PGK to GBP
GBP PHP 71.2122 GBP to PHP 0.014 PHP to GBP
GBP SCR 21.0452 GBP to SCR 0.0475 SCR to GBP
GBP SGD 2.0249 GBP to SGD 0.4939 SGD to GBP
GBP KRW 1681.0977 GBP to KRW 0.0006 KRW to GBP
GBP LKR 211.2534 GBP to LKR 0.0047 LKR to GBP
GBP TWD 48.7085 GBP to TWD 0.0205 TWD to GBP
GBP THB 52.1828 GBP to THB 0.0192 THB to GBP
Updated: 2019-10-21
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GBP BHD 0.6115 GBP to BHD 1.6353 BHD to GBP
GBP EGP 11.5984 GBP to EGP 0.0862 EGP to GBP
GBP HKD 12.5682 GBP to HKD 0.0796 HKD to GBP
GBP ILS 5.886 GBP to ILS 0.1699 ILS to GBP
GBP JOD 1.1491 GBP to JOD 0.8703 JOD to GBP
GBP KWD 0.4646 GBP to KWD 2.1522 KWD to GBP
GBP LBP 2453.4638 GBP to LBP 0.0004 LBP to GBP
GBP OMR 0.6242 GBP to OMR 1.602 OMR to GBP
GBP QAR 5.9053 GBP to QAR 0.1693 QAR to GBP
GBP SAR 6.0823 GBP to SAR 0.1644 SAR to GBP
GBP AED 5.9564 GBP to AED 0.1679 AED to GBP
GBP YER 348.4878 GBP to YER 0.0029 YER to GBP
Updated: 2019-10-21
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GBP DZD 131.1834 GBP to DZD 0.0076 DZD to GBP
GBP KES 144.1591 GBP to KES 0.0069 KES to GBP
GBP MUR 51.4043 GBP to MUR 0.0195 MUR to GBP
GBP MAD 13.9687 GBP to MAD 0.0716 MAD to GBP
GBP NAD 17.782 GBP to NAD 0.0562 NAD to GBP
GBP NIO 42.4938 GBP to NIO 0.0235 NIO to GBP
GBP NGN 263.995 GBP to NGN 0.0038 NGN to GBP
GBP SLL 7086.0974 GBP to SLL 0.0001 SLL to GBP
GBP ZAR 17.7994 GBP to ZAR 0.0562 ZAR to GBP
GBP TZS 2697.4732 GBP to TZS 0.0004 TZS to GBP
GBP TND 2.8621 GBP to TND 0.3494 TND to GBP
GBP UGX 4224.2115 GBP to UGX 0.0002 UGX to GBP
GBP XOF 823.5224 GBP to XOF 0.0012 XOF to GBP
GBP ZMK 8535.0062 GBP to ZMK 0.0001 ZMK to GBP

British Pound Sterling (GBP)

Sign £
1 Pound is subdivided into 100 pence.

GBP is the currency code for the pound sterling which is represented in accounting with the symbol. The GBP is the fourth most traded currency and third most widely held reserve currency in the world. It is issued by the second oldest central bank in the world, the Bank of England, once known as the Governor and Company of the Bank of England. The Bank of England was, at its formation in 1694, a private bank until 1931 when it was placed under the control of the British Treasury Department with it finally being fully nationalized in 1946. This is how it remained until 1998 when it was returned to the Treasury, this time as a wholly owned, yet independent public organization.

Coins used:
- frequently used: 1p, 2p, 5p, 10p, 20p, 50p, 1, 2
- rarely used: 5

Banknotes used:
- frequently used: 5, 10, 20
- rarely used: 1 (Scot. & IoM only), 50, 100 (Scot. & N. Ireland only)

Central Bank
Bank of England
The Bank of England issues GBP currency within Wales and England and controls GBP issuance in Scotland and Northern Ireland. Though it retains this sovereign control over GBP in these core countries, there are 7 other central banks that have the power to issue GBP throughout the United Kingdom, each in their own respective countries.

This is because GBP is the official currency of the entire United Kingdom, the Channel Islands, the Isle of Man, as well as British dependencies and territories such as South Georgia, the South Sandwich Islands, British Antarctica, as well as Tristan da Cunha. Each of these dependencies and territories have their own issuances of GBP. While not the only major currency in the world that is issued by more than a single central bank, the GBP is the largest currency that has this unique characteristic. This makes it particularly difficult to understand the specific movement of the currency relative to worldwide markets because it is in fact not reflective of the monetary policy or economic condition of a particular nation. The issuance is spread across multiple economies and varied economic conditions as well as the local monetary policy responses to those conditions at any given time.

Therefore even though the Bank of England has a Monetary Policy Committee (MPC), their power over the GBP is limited. This limitation is increased with knowing that the MPC itself is responsible for carrying out directives from the Treasury if such directives are also backed by Parliament. Short of these additional directives, the Bank of England MPC is tasked with pursuing the economic target of price stability through the setting of interest rates. The MPC is comprised of 8 directors and the Governor of the Bank of England. The MPC is designed to be independent of political influence yet is accountable to both the Treasury and Parliament, this accountability certainly influences decisions made, albeit indirectly. The MPC has a substantial impact on the circulation and valuation of the GBP.

The value of the historical currencies of England in the 17th century was as an enforceable legal tender value relative to gold. By 1816 the direct relation of British currency relative to silver was established, this being the first precursor to the existing name as the pound sterling, but as the underlying currency fluctuating between being used as legal tender and simply as a value based banknote. Over time the British currency switched between the gold and silver standard with the any standard being completely abolished in 1914. After World War I they returned to a version of the gold standard in order to stifle post war inflation. The gold standard was once again abolished at the outset of the Great Depression, in 1931, causing a sudden devaluation of the GBP by over 25%. Nine years later in 1940, the Bretton Woods system was adopted and the GBP was pegged to the USD. This held until the pressures of post World War II debt forced England to devalue the currency over 30% in 1949, yet they still remained within Bretton Woods, simply at a lower valuation. In the 1960's with the exchange rate remaining at the 1949 fixed point relative to the USD the GBP was devalued again this time by 14.3% in November 1967. When Bretton Woods finally disintegrated in 1971, the GBP became a de facto floating currency and has remained as such to the current day.

This long history of the GBP shows the ways in which some valuations and currencies can experience long periods of stability and then bounce through different standards, valuations, and policies within a single decade. Within each of these movements there is a complexity of international issues and interdependence that affects each new development. The most recent of which is the debate of whether the GBP should be consolidated into the euro. This consolidation would be complex given the dispersed central bank structure of the GBP and could include a partial transfer of the GBP to EUR leaving the remaining GBP issuers outside the eurozone. This is treated primarily as a political topic relative to the GBP and yet it can and will have a substantial impact on the economies of the United Kingdom as well as all those using it not only as a reserve currency to supplement the euro, effectively narrowing their diversification, but also for those that see the largess of the United Kingdom economy substantially influencing the current dynamics within the eurozone.

These are all value and circulation issues that will drastically impact the GBP as a currency over the next 2-10 years. Aside from the political issues of circulation, absorption into the euro, and standards of value is the current issue of GBP acceptance as legal tender. As it stands, similar to the CAD, which has its roots in ties to the GBP, there are maximum legal values set for acceptance of the GBP as legal tender. These guidelines place maximum restrictions at 20p with 1p or 2p coins, 5 with 5p or 10p coins, 10 with 20p through 50p coins, and unlimited with 1- 5 coins. There is no restriction on the acceptance of banknotes as legal tender.

The GBP is a complex currency that is difficult to forecast given the diversity of central banks and corresponding economies to which each serves. This is further complicated when noting the rapidly changing history of the standard of value connected and rapidly changing history of the GBP, this combines further with the uncertainty of joining the eurozone and the consequences that will result. All of these factors combine to form an uncertain future for the GBP and its place within world trade and as a sovereign currency.

Other References
Wikipedia article on British Pound Sterling Live Currency Converter for GBP

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