Best pound to US dollar exchange rate | 1 GBP = 1.22 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

= $ 1.2179

Refreshing in: 60s | Mon, May 25, 10:33AM GMT

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Today’s mid-market rate

The mid-market pound-to-dollar exchange rate is 1 GBP = 1.22 USD. (Rate accurate as of May 25, 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 | Mon, 25 May 10:33am GMT
USD AUD CAD EUR CNY GBP INR MXN PHP
1 USD = 1.0000 1.5299 Inverse: 0.6536 1.3979 Inverse: 0.7153 0.9174 Inverse: 1.0901 7.1366 Inverse: 0.1401 0.8211 Inverse: 1.2179 75.9100 Inverse: 0.0132 22.6386 Inverse: 0.0442 50.7534 Inverse: 0.0197
1 AUD = 0.6536 Inverse: 1.5299 1.0000 0.9137 Inverse: 1.0944 0.5996 Inverse: 1.6677 4.6648 Inverse: 0.2144 0.5367 Inverse: 1.8632 49.6180 Inverse: 0.0202 14.7975 Inverse: 0.0676 33.1746 Inverse: 0.0301
1 EUR = 1.0901 Inverse: 0.9174 1.6677 Inverse: 0.5996 1.5238 Inverse: 0.6562 1.0000 7.7794 Inverse: 0.1285 0.8950 Inverse: 1.1173 82.7471 Inverse: 0.0121 24.6776 Inverse: 0.0405 55.3248 Inverse: 0.0181
1 GBP = 1.2179 Inverse: 0.8211 1.8632 Inverse: 0.5367 1.7025 Inverse: 0.5874 1.1173 Inverse: 0.8950 8.6916 Inverse: 0.1151 1.0000 92.4505 Inverse: 0.0108 27.5715 Inverse: 0.0363 61.8124 Inverse: 0.0162

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 2,000 1 day GBP 0.00 1.213 USD
12,130
TorFX guarantee to beat any competitor's exchange rate for a transaction (conditions apply)
(Conditions apply)
Go to site Show details
GBP 5,000 Same day GBP 0.00 1.213 USD
12,130
Universal Partners FX offers competitive exchange rates and same-day transfers for 100+ currencies. Go to site Show details
GBP 2,500 Same day GBP 0.00 1.213 USD
12,130
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 1 - 2 days GBP 0.00 1.213 USD
12,130
Whatever amount you transfer, XE will not charge you a fee for using their service. Go to site Show details
GBP 3,000 1 day GBP 0.00 1.213 USD
12,130
Get no fees as a Finder customer when you transfer your money overseas with Global Reach. Go to site Show details
GBP 5,000 1 day GBP 0.00 1.213 USD
12,130
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 1,000 Same day GBP 0.00 1.213 USD
12,130
Clear Capital specialises in sending 150+ currencies abroad for individuals and businesses, with a dedicated account manager to help you. Go to site Show details
GBP 2,000 1 day GBP 0.00 1.213 USD
12,130
Make transferring money abroad as simple and safe as possible with bank-beating exchange rates - online, via the app or over the phone. Go to site Show details
GBP 2,500 1 day GBP 0.00 1.213 USD
12,130
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 1,000 1 - 2 days GBP 0.00 1.213 USD
12,130
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
GBP 1 1 - 2 days GBP 1.99 1.202 USD
12,018
Special offers like free transfers and better exchange rates available for new customers.
Quick, affordable transfers around the world with both express and economy options.
Go to site Show details
GBP 5 2 days EUR 3.00 1.212 USD
12,118
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 10 Within an hour GBP 2.00 1.211 USD
12,112
First two transfers free for new customers.
Instant or 1 hour transfers to over 50 countries, send money directly to bank accounts or over 280,000 cash pickup points.
Go to site Show details
GBP 50 Same day GBP 2.99 1.206 USD
12,054
Use promo code 3FREE to send your first 3 transfers with no fee. Conditions apply.
An online money transfer service with cash pick-up, bank account to bank account and airtime transfers available.
Go to site Show details

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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