GB Pound Sterling

UK pound closes in on a six month low

According to the latest data, 1.00 GBP is equal to 1.22 USD

This means that one British pound can buy 1.22 U.S. dollars at the current market rate. The exchange rate fluctuates depending on various factors such as supply and demand, interest rates, inflation, trade balance, and political stability.

Weak against U.S. dollar

The British pound has been weakening against the U.S. dollar since the Brexit referendum in 2016, when the UK voted to leave the European Union. The uncertainty and instability caused by the Brexit process have reduced the confidence and attractiveness of the British currency in the global market. The U.S. dollar, on the other hand, has been strengthening due to its status as a safe haven and a reserve currency in times of crisis.

In September 2022 the pound fell to its lowest level against the U.S. dollar

  • Excessive government spending and tax cuts that undermined confidence in the UK economy.
  • Price caps and record high inflation that eroded the purchasing power of the pound.
  • The strength of the dollar as a safe haven currency amid global uncertainty.
  • The prospect of a new Scottish independence referendum that increased political risk.
  • The impact of the Covid pandemic and the Russia-Ukraine conflict on supply chains and trade.

Artwork of GBP

GB Pound £
UK pound closes in on a six month low

September 2022

The pound reached $1.0327 at one point in late September 2022, its lowest since Britain went decimal in 1971. It also fell more than 1% against the euro to about 86.80p, its lowest level since May 2020.

Today, 22nd Septmber 2023

The current exchange rate of 1.22 USD per GBP is near the lowest point in the last 30 and 90 days, which was 1.2383 USD per GBP

The highest point in the same period was 1.3128 USD per GBP. The average exchange rate in the last 30 days was 1.2563 USD per GBP, and in the last 90 days was 1.2721 USD per GB pound.

Pound Sterling from 2012 – 2023

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