The pound sterling (Sign: £, Abbreviated: GBP) is the official currency of the United Kingdom, the Isle of Man, the Channel Islands, and other British overseas territories. The pound can also be found in Gibraltar, the Falkland Islands, and Saint Helena and Ascension, with each country’s respective currency. The GBP is considered to be at parity to the local Gibraltar, Falkland Island, and Saint Helena pounds.

It is the world’s third largest reserve currency and third most traded currency in the Foreign Exchange Market, behind the United States dollar and the European euro. Similar to the dollar, one pound is divisible into 100 units known as pence. It is commonly referred to as the Great Britain Pound, and is the world’s oldest currency still in use today.

The British pound is traded on the Foreign Exchange Market and has been regarded as one of the highest valued currencies in the world. Great Britain has resisted converting over the the euro, even though they are part of the European Union. However, Great Britain’s economy does not meet the requirement set out by the EU to convert to the EUR.

Exchange rates play a huge factor in the international financial world, and a number of investors use the FXCM software to gain a competitive edge. The software allows you to effectively trade forex and organize your investments to get the best value on certain currencies.

Use our sterling pound (GBP) currency converter to calculate exchange rates for other currencies such as the United States Dollar (USD), Japanese Yen (JPY), or the Euro (EUR). Simply enter amount in pounds and select the currency you would like to convert to. Our conversion rates are updated daily, and will give you an extremely close estimate of the actual conversion amount. We recommend double checking the current rates before committing to any large financial transactions.