Foreign currency exchange rates

Get today’s live and historical exchange rates from GBP to all global currencies.

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An exchange rate is the value of one currency exchanged for another. Using our live exchange rates from GBP to all global currencies, you can calculate how much your money would be worth and use historical data from the last 10 years to forecast trends. Find out if you’re getting the best deal and pick the best time to transfer with the strongest exchange rates.

How are exchange rates calculated?

Exchange rates, also known as foreign exchange rates, are calculated based on the currency values of the two currencies being exchanged. Let’s look at the Pound and the US dollar currency pair exchange rate as of 1 December 2021:

  • If 1 GBP = 1.33 USD, you can buy 1.33 US dollars for every 1 Pound
  • If 1 USD = 0.75 GBP, you can buy 0.75 Pounds for every 1 US dollar

In this example, you would be able to buy $133 with £100. However, keep in mind that exchange rates change frequently. Plus, because banks and money transfer providers need to make money, they often offer weaker rates compared to the rate seen on the news.

This is due to the fact that the exchange rate you see on the evening news is the ‘interbank rate’, or the mid-market rate. This is a rate used between banks when they buy and sell currency among themselves. The rate you receive will have a margin built into it, or other fees, which makes it less competitive than the mid-market rate. Therefore it’s best to compare rates thoroughly before carrying out an exchange to get the best exchange rate.

Staying on top of trends can save you money when it comes to foreign currency exchange. Today £1 is worth…
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Our table below lets you compare services you can use to send money abroad. Compare fees, exchange rates and discounts from different money transfer services, and when you have made your choice, click Go to site.
1 - 18 of 18
Name Product Filter Values Fastest Transfer Speed Fees (Pay by Bank Transfer) Learn More
TorFX
24 hours
£0

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TorFX sends money overseas in 30+ currencies, with competitive rates for transfer amounts over $2,000.
Wise (TransferWise)
4 hours
From £3.75

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Wise uses the mid-market rate and transparent fees to help you send money in 45+ currencies.
Central FX
24 hours
£0

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Central FX's dedicated team will guide you or your business from first call to final payment.
Currencies Direct
24 hours
£0

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CurrenciesDirect makes transferring money abroad simple with bank-beating exchange rates.
CurrencyTransfer
24 hours
£0

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CurrencyTransfer lets you shop around for the best exchange rate on its online marketplace.
Xe
Within minutes
£2
SPECIAL OFFER ✓ £25 Amazon voucher when you refer a friend

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Xe has fast transfers with low fees and a range of foreign currency tools.
PassTo
Within minutes
From £0.99

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Get the first 2 transfers for free and also £5 when you refer a friend. T&Cs apply.
PassTo specialises in remittances to bank accounts and cash pickup locations in 45+ countries.
Remitly
Within minutes
From £1.49
SPECIAL OFFER ✓ Get £10 off with code FINDER

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Get £10 off with code “FINDER” when you send £100 or more. New customers only. Offer expires 14/07/22.
Remitly has quick, affordable transfers around the world, with both express and economy options.
CurrencyFair
24 hours
£2.50

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Special offer: New customers get unlimited fee-free transfers for their first 3 months. T&Cs apply.
CurrencyFair has bank-beating exchange rates and fast transfer times on 15+ popular currencies.
Revolut
Within minutes
From £0
SPECIAL OFFER ✓ Sign up and get a free £10 top-up plus 1 month of Revolut Premium

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New customers get a £10 top-up when they sign up with Finder plus a premium month for free. T&Cs apply.
Revolut is a digital bank that sends money fast to 30+ currencies, often with no fee added to the exchange rate.
WorldRemit
Within minutes
From £1.99
SPECIAL OFFER ✓ Use promo code 3FREE to send your first 3 transfers with no fee. Conditions apply.

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WorldRemit sends money to 110+ countries for bank-to-bank deposits, cash pick-ups or mobile top-ups.
VertoFX Business
24 hours
£0

View details
Special offer: New customers get $100 trade credit after their first transaction. T&Cs apply.
VertoFX sends money via bank transfer at competitive rates and fees in 35+ currencies.
TorFX Business
24 hours
£0

View details
TorFX sends money overseas in 30+ currencies, with competitive rates for transfer amounts over $2,000.
Currencies Direct Business
24 hours
£0
SPECIAL OFFER ✓ https://www.currenciesdirect.com/en/info/refer-a-friend

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CurrenciesDirect makes transferring money abroad simple with bank-beating exchange rates.
Airwallex
Within minutes
£0

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Make business transfers to 130+ countries in 30+ currencies without international fees.
CurrencyFair Business
24 hours
£2.50

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Special offer: Zero fees on your first 10 transfers.
CurrencyFair has bank-beating exchange rates and fast transfer times on 15+ popular currencies.
WorldFirst Business
24 hours
£0

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WorldFirst sends 60+ currencies at competitive rates with no fees. If you find a better eligible quote, WorldFirst will beat it.
Wise (TransferWise) Business
2 days
From £3.75

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Wise uses the mid-market rate and transparent fees to help you send money in 45+ currencies.
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Compare up to 4 providers

Why do exchange rates matter?

Exchange rates change frequently. There is no guarantee that a rate you see today will be there tomorrow, or even in the next hour. Fluctuating exchange rates can affect a range of stakeholders:

  • Travellers. When you travel overseas, you may have less or more money to spend depending on the strengths or weaknesses of the currencies you’re trading.
  • Locals. If your country has a strong foreign currency, you may see some imported items become cheaper while other items become more expensive.
  • Importers. If you import goods into your country, you may pay more or less — depending on how the rates have fluctuated — for the same goods.
  • Exporters. If you sell goods to other countries, you may pay more or less for the same goods.
  • Investors. Many trade in foreign currencies, so a drop in the value of a currency they’re trading will mean losses, while a gain will see profits.

Knowing the value of your currency in relation to foreign currencies will help you understand your purchasing power or analyse your investments.

For example, if you are planning on traveling, knowing the exchange rate shows you your purchasing power so you know in advance what you can purchase with a certain amount of money. Or if you regularly send money overseas – for example, to your family – you’ll want to know what the exchange rate is so you know how much money is actually reaching your destination.

What influences exchange rates?

Exchange rates are important factors of a country’s economic performance. This is because countries depend on foreign trade with other countries across the world to sustain their economy.

Aside from demand and supply being major factors of exchange rates, there are a number of underlying factors which also have an impact:

  • Interest rates. Interest rates set by the country’s central bank will affect the currency value of that country. If the bank has set higher interest rates, then lenders will see higher returns – which tends to attract foreign investors.
  • Terms of trade. The terms of trade of a country are determined by the balance between exports and imports. If a country’s exports are in high demand, then that country will receive more revenue from its exports. This in turn leads to its currency being in high demand and therefore increasing in value.
  • Inflation. A country with lower rates of inflation will have a higher currency value because its purchasing power increases in comparison with other countries.
  • Political climate. Investors typically look for countries with a stable political climate so their capital is safely invested. Generally, countries with a stable political environment will have a strong economic performance and will attract more investors.
  • Public debt. A country with high public debt is likely to look to measures such as printing money in order to reduce the debt. When this happens, the currency value of that particular country will be reduced and this will lower its exchange rate.

Exchange rates from GBP to other currencies

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