Best pound to US dollar exchange rate | 1 GBP = 1.28 USD

Find the best exchange rate when converting your pounds to US dollars.

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Whether you’re transferring money to a loved one or conducting business in the US, make your money go further with a strong exchange from British pounds to US dollars.

Live Rate

= $ 1.2780

Refreshing in: 60s | Fri, Feb 28, 04:36PM GMT

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Today’s mid-market rate

The mid-market pound-to-dollar exchange rate is 1 GBP = 1.28 USD. (Rate accurate as of Feb 28, 2020.)

We’ve gathered today’s best rates to inform your foreign exchange decisions when sending money from the UK to the US.

Refreshing in: 60s | Fri, 28 Feb 04:36pm GMT
USD AUD CAD EUR CNY GBP INR MXN PHP
1 USD = 1.0000 1.5381 Inverse: 0.6502 1.3406 Inverse: 0.7459 0.9092 Inverse: 1.0999 6.9919 Inverse: 0.1430 0.7825 Inverse: 1.2780 72.5825 Inverse: 0.0138 19.7750 Inverse: 0.0506 51.1477 Inverse: 0.0196
1 AUD = 0.6502 Inverse: 1.5381 1.0000 0.8716 Inverse: 1.1473 0.5911 Inverse: 1.6917 4.5458 Inverse: 0.2200 0.5087 Inverse: 1.9657 47.1898 Inverse: 0.0212 12.8568 Inverse: 0.0778 33.2539 Inverse: 0.0301
1 EUR = 1.0999 Inverse: 0.9092 1.6917 Inverse: 0.5911 1.4745 Inverse: 0.6782 1.0000 7.6903 Inverse: 0.1300 0.8606 Inverse: 1.1619 79.8325 Inverse: 0.0125 21.7503 Inverse: 0.0460 56.2566 Inverse: 0.0178
1 GBP = 1.2780 Inverse: 0.7825 1.9657 Inverse: 0.5087 1.7133 Inverse: 0.5837 1.1619 Inverse: 0.8606 8.9356 Inverse: 0.1119 1.0000 92.7603 Inverse: 0.0108 25.2724 Inverse: 0.0396 65.3666 Inverse: 0.0153

Compare today’s rates from providers who can send GPB to USD

Table: sorted by a combination of service offering and the amount your recipient will receive

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
GBP 5,000 1 day GBP 0.00 1.272 USD
12,716
Take advantage of fee lock-ins and live bookable rates, helping you save up to 85% in hidden bank fees. Go to site Show details
GBP 2,000 1 day GBP 0.00 1.273 USD
12,729
TorFX guarantee to beat any competitor's exchange rate for a transaction (conditions apply)
(Conditions apply)
Go to site Show details
GBP 3,000 1 day GBP 0.00 1.273 USD
12,729
Get no fees as a Finder customer when you transfer your money overseas with Global Reach. Go to site Show details
GBP 1 1 - 2 days GBP 0.00 1.272 USD
12,716
Whatever amount you transfer, XE will not charge you a fee for using their service. Go to site Show details
GBP 2,500 Same day GBP 0.00 1.273 USD
12,729
Central FX’s dedicated private client team will guide you through the money transfer process from first call to final payment. Go to site Show details
GBP 1,000 1 - 2 days GBP 0.00 1.273 USD
12,729
Better exchange rates for Finder customers.
Send 60+ currencies at competitive rates and no fees. If you find a better eligible quote, WorldFirst will beat it.
Go to site Show details
USD 0 1 - 2 days GBP 1.99 1.261 USD
12,611
Quick, affordable transfers around the world. Remitly also has an express option that can transfer your money in minutes for a higher fee. The cheaper option takes several days. Go to site Show details
GBP 5 2 days EUR 3.00 1.272 USD
12,716
Special offer: Zero fees on your first 10 transfers.
Get bank-beating exchange rates and fast transfer times on 15+ popular currencies.
Go to site Show details
GBP 2,500 1 day GBP 0.00 1.273 USD
12,729
With 17 years of foreign exchange expertise, OFX know the money transfers business very well, offering facilities for one-off and recurring transfers. Go to site Show details
GBP 50 Same day GBP 2.99 1.265 USD
12,648
Use promo code 3FREE to send your first 3 transfers with no fee.
Send money online anytime, anywhere, with a simple to use platform and transparent fees and exchange rates shown upfront.
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Compare up to 4 providers

Disclaimer: Exchange rates change often. Confirm the total cost with the provider before transferring money.

How does the British pound trade against the US dollar historically?

The British pound has a rich history and is the oldest actively traded currency on the foreign exchange (forex) market. The first exchange rate between the GBP and USD was published in The Times on August 10, 1866.

Since then, the GBP = USD currency pair has been affected by various factors. One of these factors is the interest rate between the UK’s Bank of England and the US’s Federal Reserve, which affects the value of currencies when compared to each other. For example, when the Fed intervenes on open market activities to strengthen the USD, the value of the GBP trade against the USD could decline.

From 2012 through 2016, the GBP has had an average worth of $1.35 to $1.75. There is some confusion to why the pound consistently trades stronger than the US dollar, taking into account the US’s more powerful economy over the UK. It turns out that the nominal value of a country’s currency and its economic strength have little to do with one another.

The effects of “Brexit” on currency exchange

After Brexit — or Britain’s proposed exit from the European Union — in June 2016, the GBP has plummeted against the USD, reaching extreme lows of 1.20 against the US dollar.

However, this low is nothing compared to the 1.05 record low in February 1985. The GBP is expected to remain volatile during this period of the UK’s exit from the EU.

In December 1957, the GBP reached its highest ever against the dollar at 2.86. Since then, the GBP has been in a decline and hasn’t hit more than 2.0 in the last decade.

GBP > USD exchange rate history

We’ve put together the annual average exchange rate for the British pound against the US dollar from 2007 to 2016.

2016201520142013201220112010200920082007
GBP = USD1.3556731.5285041.6477011.5647681.5848771.6041231.5458931.5653941.8554432.001560

Here’s the monthly average exchange rate for the British pound over the past 12 months.

MonthGBP = USD
Feb. 20171.243545
Jan. 20171.234480
Dec. 20161.247756
Nov. 20161.245045
Oct. 20161.235094
Sept. 20161.314193
Aug. 20161.308817
July 20161.314450
June 20161.418438
May 20161.451924
April 20161.430589
March 20161.426061

What affects GBP > USD exchange rates?

In general, five factors affect how the British pound trades against the US dollar.

Prices and inflation

These elements play an important role in the value of the British pound. Countries with high levels of inflation see higher currency depreciation when compared with other currencies.

Monetary policy

The Bank of England controls the supply of the British pound and promotes its stability. This means that whenever inflation is rising to a level that threatens stability of the British pound, the Bank of England will use its policy tools to control inflation.

Confidence and sentiment

Traders rely on public confidence about the economy. Whether the public is optimistic or pessimistic about the wealth and resources of the UK can be a key to detecting shifting trends in the economy.

Economic growth

The UK’s economic activity also affects currency value. The growth of the economy is measured by its gross domestic product (GDP). GDP reports include the preliminary GDP, the revised GDP and the final GDP — all estimating trends that will impact the economy.

Balance of payments

The balance of payments is like a country’s accounting record of interaction with the rest of the world. It’s made up of three accounts, but only the current account affects exchange rates. This account reveals how much a country is exporting and importing, as well as the flow of income and transfer payments.

How much is traded between these currencies?

The GBP > USD currency pair makes up 85% of all currency cross-rate trades. It is the third most commonly traded pair, taking a 14% share of all daily trading volume.

Did you know?

The GBP = USD currency pair is often referred to by forex traders as trading the “cable,” a reference to the cable across the Atlantic used to transmit exchange rates in the 1800s. In London markets, it’s called “Betty” — cockney rhyming slang that mutated “cable” to “Betty Grable.”

Bottom line

No matter your reason for transferring money abroad, you want to make an informed decision.

When choosing a money transfer service for currency exchange, it’s best to look for an exchange rate that’s closest to the mid-market rate and comparable to historically low exchange rates within the past year.

What is the mid-market rate?

The mid-market rate is what your money’s actually worth on the global market compared to another currency. It’s the midpoint between worldwide supply and demand for that currency — and the rate banks and transfer services use when they trade among themselves.

Use the mid-market rate as a baseline to compare against the rates provided by your bank or transfer service. With it, you’ll discover which companies offer the best rates.

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