Buy, Sell or Transfer British Pound at the Best Rates in India

BookMyForex compares British Pound rates across hundreds of banks and forex companies in your area, helping you discover the best rate for your forex requirements.

1 GBP = 105.6406 INR Interbank/ mid-market Rate at: 23-06-2024 08:55:18

Total Amount: 0.00

British Pound Rates Today - Live

Buy GBP Forex Card ₹105.9106
Sell GBP Forex Card ₹104.8554
Buy GBP Wire Transfer ₹106.2406
Buy GBP Currency Notes ₹106.3744
Sell GBP Currency Notes ₹105.9675
currency profile

Pound Sterling (GBP) Overview

The Pound Sterling (GBP) is the official currency for various regions, such as the United Kingdom, the Isle of Man, the South Sandwich Islands, Gibraltar, South Georgia, and the British Antarctic Territory. It is commonly denoted as sterling or pound, with the abbreviation being GBP. Recognized for its historical significance, the Pound Sterling holds the distinction of being the most longstanding currency in continuous circulation. It is also the fourth most frequently traded currency on the foreign exchange (forex) market, consequently, the Pound Sterling plays a pivotal role in global financial transactions.

Pound Sterling Currency Facts

GBP Stats GBP Profile
Name: Pound sterling
Nickname: Pound, Quid, Sterling
Symbol: £, GBP‎‎
Date of Introduction: Around 760 AD
GBP Currency in Circulation: Approximately £803 billion
Banknotes: Frequently Used: £5, £10, £20, £50
Rarely Used: £1, £2
GBP Notes Made of: Polymer and cotton paper blend
Current GBP Coins: 1p, 2p, 5p, 10p, 20p, 50p, £1 and £2
GBP Coins Made of: Nickel-brass, cupro-nickel, and nickel-plated steel
Countries using GBP Currency

United Kingdom, British Overseas Territories: South Georgia and the South Sandwich Islands, British Antarctic Territory, Crown Dependencies: Isle of Man, Jersey, Guernsey

History of the Pound Sterling (GBP) 

Pound Sterling (GBP) has a long history dating back several centuries and has undergone significant changes throughout time. Let’s take a closer look at the origin of the Pound Sterling, its evolution, and the factors that have shaped the currency:

1. Origins in 760 AD:

It is believed that the British pound was first created as currency in the year 760, making it one of the oldest legal tenders still in circulation. The name "pound sterling" draws its inspiration from the Latin word "libra," symbolizing balance and weight.

2. Introduction of Pound Coins 

During the reign of Henry VII in 1489, the pound coin made its debut. Prior to this, the pound was only a unit of account, not a physical coin. This marked an early milestone in the currency's history, setting the stage for subsequent developments in coinage. 

3. Mechanization and Anti-Clipping Measures:

The mechanization of coin minting in 1660 brought efficiency to the coin production process. To combat malpractices like money clipping, several features such as side lettering were introduced in coin designs, showcasing early innovations in currency security.

4. Introduction of Pound Banknotes

Pound notes entered circulation in England in 1694, shortly after the Bank of England's establishment. Interestingly, these notes were initially handwritten, reflecting the craftsmanship and manual processes of the time.

5. Decimalization in 1971:

The pound operated within a complex system of pennies and shillings until 1971 when the decimal system was introduced. This transformative shift streamlined the currency, aligning it with modern global standards.

6. Freely Floating Pound

In 1971, the United Kingdom allowed the British pound to float freely against other currencies. This change from fixed exchange rates to floating exchange rates enabled market forces to influence the pound's value dynamically.

7. Consideration of Deutsche Mark Peg and Euro Opt-Out 

In 1990, there were considerations about pegging the British pound to the Deutsche Mark, but this idea was abandoned. In 2002, amidst the widespread adoption of the euro, the United Kingdom still chose to retain the pound sterling, preserving its national currency identity.

8. Current Currency Dynamics

The British pound sterling remains a dynamic and influential currency, adapting to the complexities of the current economic landscape while upholding its historical legacy. The ongoing interplay of economic forces and technological advancements continues to shape the narrative of this currency.

Significance of the Pound Sterling

The British Pound Sterling, represented by the symbol £, holds a significant position as one of the most traded currencies worldwide. Following closely behind the US dollar, Japanese yen, and euro, the GBP commands approximately 13 percent of the total daily trading volume in foreign exchange markets. This displays its crucial role in facilitating international trade and financial transactions, contributing to the interconnectedness of the global economy.

The historical legacy of the British pound further elevates its significance. Dating back to 760 AD, the GBP is recognized as the oldest actively used currency in the world. Its presence over the centuries signifies not only the stability of the currency but also its adaptability to the evolving complexities of the modern financial world. Continuously demonstrating resilience and adaptability, the British pound remains a robust economic indicator and holds a lot of significance.

Current Pound Sterling (GBP) Notes & Coins

1. The currently circulating GBP banknotes include denominations of £5, £10, £20, and £50. Denominations like £1 and £2 are rarely seen in circulation.

2. Coins come in denominations like 1, 2, 5, 10, 20, and 50 pence, as well as the 1 and 2 pounds. One pound is equal to 100 pence.

3. The Bank of England is responsible for issuing banknotes, while the Royal Mint produces coins. All UK banknotes feature the portrait of Queen Elizabeth II.

4. Banknotes were originally handwritten until the Bank of England began printing them in 1855.

5. The design of the notes has evolved significantly over time, incorporating new security features and reflecting changing cultural trends.

6. Both notes and coins are designed with security features to deter counterfeiting. They are made from a unique blend of materials that are difficult to replicate.

7. The value of the pound sterling has fluctuated significantly throughout history, but it remains one of the world's most stable and widely used currencies.

How to Spot Counterfeit Pound Sterling Notes?

To make sure a British Pound (GBP) note is real, you can do a few simple things. First, run your finger over the words "Bank of England" on the front – a real note will have a raised print that you can feel. Moreover, the micro lettering should spell out the note's value in words and numbers. Check the lines and colors for sharpness; if they are blurry or smudged, they might be fake. 

Also, you will find the silver foil patches on the note – one at the top where the crown should appear in 3D and one at the bottom that changes from "Value" to "Pounds" when tilted. New notes have a see-through window. You will be able to see the Queen and "Bank of England" twice, with a gold image on the front and a silver one on the back showing a rainbow effect when tilted. Checking all these things will help you make sure your GBP notes are real and not fake.

How Do We Measure The Value Of GBP?

The value of GBP is measured using a GBP Index. It essentially operates as a comparative measure, assessing the pound against a basket of currencies. This basket typically includes significant currencies from major regions, thereby providing a comprehensive overview of the pound's performance.

What Is the Pound Sterling Index (GBPX)?

The GBP Index, also known as the Sterling Index, is a weighted average of the value of the pound sterling against a basket of other major currencies. Here are a few key points about the Sterling index:

1. The GBPX is calculated based on the weighted average of the value of the pound against six major currencies namely the Euro (EUR), US Dollar (USD), Japanese Yen (JPY), Swiss Franc (CHF), Canadian Dollar (CAD) and Australian Dollar (AUD).

2. The weights assigned to each currency reflect their relative importance in international trade, with the euro holding the highest weight due to the size of the European Union's economy.

3. A rising GBP Index signals a strengthened pound when measured against the basket of currencies. This uptrend implies that the pound has gained value in comparison to its counterparts. 

4. Conversely, a declining index suggests a weakened pound in relation to the basket, indicating a decrease in its value on the global stage.

5. Note that the GBPX only measures the pound's performance against a specific set of currencies, neglecting other potentially influential factors.

Benefits of buying/selling GBP from BookMyForex

You can buy or sell GBP online at the best rates with BookMyForex, a leading forex platform in India. On our site, you will find the live & transparent GBP rates as the rates get updated every 3 seconds. You get the following benefits when buying or selling GBP

1. BookMyForex offers the best rate for GBP  to INR, or vice versa

2. You can place your order online 24x7 at live rates

3. Rates are compared across hundreds of money changers in your area

4. Same-day delivery of GBP  currency notes is available

5. Freeze your desired rates for up to 3 days by paying a refundable deposit of 2%


Read More

More Currency Information & Important Tools for British Pound

GBP - British Pound

The British Pound is the currency of the United Kingdom. The currency code for British Pound is "GBP". Click below to get more details and facts about British Pound, its ranking & rates.

Check Live GBP to INR Rates

Click below to check live GBP rates on Easily place orders online to buy or sell GBP at real-time and transparent exchange rates for accurate currency conversion.

More info

GBP - British Pound

The British Pound is the currency of the United Kingdom. The currency code for British Pound is "GBP". Click below to get more details and facts about British Pound, its ranking & rates.

Convert GBP to INR is the best platform in India to convert GBP to INR. Click below to instantly convert GBP to INR at the best exchange rate.

More info

GBP - British Pound

The British Pound is the currency of the United Kingdom. The currency code for British Pound is "GBP". Click below to get more details and facts about British Pound, its ranking & rates.

Check GBP to INR Forecast

Make informed decisions about currency exchange. Click below to check GBP to INR forecast rates for the next 7 days, 30 days, and 90 days.

More info

GBP - INR Forecast

GBP to INR forecast derived from the thorough analysis of GBP to INR exchange rate via moving averages, buy/sell signals & expert chart indicators. Click below to get a detailed GBP to INR forecast.

Check GBP to INR Historical Rate Chart

Analyze past trends with our comprehensive historical rate chart. Click below to check the GBP to INR rate chart for today, the last 7 days, the last 30 days, and the last 1 year.

More info

How to Buy/Sell British Pound with BookMyForex?

  • Select the product and currency you want.

  • Enter traveler details and purpose.

  • Upload necessary documents depending upon the purpose elected.

  • Make payment at blocked rate & get order confirmation.

Other Forex Products and Services We Offer for British Pound

Transfer Money Overseas from India

With our fully online remittance process in place, you will be able to transfer funds abroad at the lowest rates possible in from the comfort of your home. We let you book at live and transparent rates unlike other platforms and process the transfers in the fastest time possible.

Send Money Abroad
Buy/Sell Foreign Currencies at Best Rates

Exchange foreign currency at best rates only on BookMyForex. Book your forex order at absolutely live rates in and get the deal of a lifetime. Freeze the currency rates if you think it will rise. At BookMyForex, we scan forex rates in your area nearby among 100s of banks and money changers & help you to get the best deal possible.

Buy/Sell Foreign Currency
Buy the Best Forex Card

Looking to travel abroad? Get your BookMyForex travel card in and be assured of a hassle-free experience. Simply swipe your card to buy food, clothes, pay for your hotel accommodation and what not. Get even better rates on your BookMyForex travel card than foreign currency notes. What are you waiting for?

Buy Prepaid Forex Card

The BookMyForex Mobile App

Enjoy added benefits and wave goodbye all your Forex woes by downloading our mobile app

  • Real time tracking & sorting of transactions
  • Easy and free of cost currency to currency exchange
  • Secure online transactions with disposable virtual cards
  • Hassle free fund reloads & unloads on card
  • Enjoy bank grade in-app security
  • Nearby ATM tracker
Get it now

The World's First and Largest Online Foreign Exchange Marketplace - BookMyForex

Buy, Sell or Transfer Currency With BookMyForex

USD 1.2 Billions+

Exchanged so far


Happy Customers


Banks and Money Exchangers


Featured In

Read what others are saying about us

Book My Forex Pvt. Ltd., a MakeMyTrip group company, is a currency exchange service provider authorised by the Reserve Bank of India (RBI). | License number : FE.DEL.FFMC/ U070/2013 | Insurance is the subject matter of solicitation | IRDAI Registration No. CA0429 | IRDAI | Cheques are subject to realization.

* Zero margin rates/ interbank rates are available only on forex cards on specific currencies, in select cities for orders amounting to Rs. 1.5 lakh or more (Use promo code: ZEROMARKUP)

** Same-day delivery is available from Monday to Friday (excluding holidays) when all payments and documents are received before 1PM.

BookMyForex Pvt Ltd

P-701 to P-705, 7th Floor, Tower C, JMD Megapolis, Sohna Road, Sector-48, Gurugram, Haryana 122018

© BookMyForex. All Rights Reserved

We Accept:
Secured By: