Pound to dollar chart for the past year
GBP to USD rate = 1.32527544
This data uses the mid-market rate. For an exchange rate on your money transfer, please get a transfer quote.
The Highest GBP to USD rate ever
The Pound to Dollar rate reached a high of $2.649 on 6th Mar 1972.
That remains the strongest the Pound has been against USD since it freely floated in 1971.
Before the 1970s, the Pound to Dollar rate was fixed at a level set by the British government.
In the last 10 years, the highest Pound to Dollar rate was $1.5884.
The Lowest GBP to USD rate ever
The Pound to Dollar rate reached an all-time low of $1.054 on 25th Feb 1985.
The fall in the rate was more a function of US Dollar strength than British Pound weakness.
A doubling in the oil price led to high inflation in the 1980s. To combat inflation, the US Federal Reserve raised interest rates above 20%. This led to huge international capital inflows into the US and a surge in the value of the Dollar.
In the last 10 years, the lowest Pound to Dollar rate was $1.0745.
Average GBP to USD rates
Averages can be a good way of telling if the current GBP to USD exchange rate is good or bad.
The Pound to Dollar rate has averaged $1.29 over the past 5 years.
The Pound to Dollar rate has averaged $1.30 over the past 10 years.
Based on current levels, the GBP to USD rate is below average - bad for buyers (sell Pounds, buy USD), but good for sellers (sell USD, buy Pounds).
Is GBP stronger than USD?
In basic terms, £1 is worth more than $1.
So at face value, you could say the British Pound is stronger than the US Dollar.
However, the value of one currency compared to another is not a true indicator of strength, wealth, or power.
A better way to measure a currency's strength is through its relative movement over time.
Over the past 50 years, the Pound has halved in value against the US Dollar.
How did Brexit affect the GBP to USD?
The British Pound fell 13% against the US Dollar in the two weeks following the Brexit referendum.
The Pound fell in value as Brexit created uncertainty in the UK for trade, emigration and the legal system going forward.
How did Coronavirus impact GBP to USD?
The GBP to USD exchange rate fell 12% within the space of two weeks in March 2020.
Investors sold the Pound in favour of the perceived safety of the US Dollar.
Getting the best GBP to USD rate
Timing matters when it comes to exchange rates.
But most people can't watch the rate all day.
As a currency broker, we work with our clients to achieve a more favourable GBP to USD exchange rate.
Unless you are glued to the screens, you can very easily miss the best opportunities.
And you may not be confident picking the right time to exchange their money.
That's why it miught be useful to use a currency broker as they can monitor exchange rates for you.
It may be that you are targeting a specific rate.
Or you may just want to know when the market moves in your favour.
By understanding your requirements, we can work with you to achieve a better rate, rather than using a bank or online platform and having to accept whatever rate they give you on the day.