Pound Sterling (GBP)

Pound Sterling (GBP)

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About Pound Sterling (GBP)

Generally known as the Pound, GBP is the official currency of the United Kingdom. It is the world’s oldest currency still in circulation right from the time of its inception. Other regions that use GBP as their official currency are Jersey, Guernsey, the Isle of Man, Sourth Georgia, the South Sandwich Islands, the British Antarctic territory, and Tristan da Cunha. The GBP is fourth most traded currency in the forex market preceded by the USD, Euro, and Yen. With the given top 3 traded currencies, GBP forms a ‘basket for currencies’ utilised to calculate the IMF value for drawing rights. There are many other countries in the world that use pound as their currencies however, none of these have any official relation to the GBP.

Other countries that accept the Pound include:

  • Botswana
  • Malawi
  • Rwanda
  • Sierra Leone
  • Tanzania
  • Uganda
  • Zambia
  • Zimbabwe

Some facts that you ought to know about the british currency:
  • The short name for the Great Britain Pound is GBP currency.
  • The nickname for this currency is Farthing, Pence, Quid, Ster, Sterling, and Stg.
  • The most frequently used coins are £1, £2, 1P, 2P, 5P, 10P, 20P, and 50P.
  • The most commonly used banknotes include £5, £10, £20, and £50.
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Best Foreign
Exchange Rates
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What People are Saying

Being used to using credit and debit cards, I find it very stressful to carry currency in cash. I get paranoid about getting robbed at public spaces with so much cash in my purse. I applied for ‘One Currency Prepaid Travel Card’ by Thomas cook and I cannot thank them enough for this convenience. The best part is accepted at the most popular merchants and ATM’s abroad. I now travel with peace and tension free.
Srichandra
I was scheduled to travel to the US and I was short on time to exchange my currency. My friend recommended that I buy foreign exchange from Thomas Cook because of two reasons; good rate and simple online process. I did not quite understand the online process when it was narrated to me, but when I visited the site, I was shocked to find out how easy it was. Just four steps, and I got the currency at my door step. Absolutely fantastic service.
Bhavesh Tripathy
I was on a two-day business trip to Singapore and my trip got extended by another two days. I had a day off and Universal Studio has been on my list. Unfortunately, I had carried money keeping in mind a two-day affair. I contacted Thomas Cook and they helped e exchange my money at their office which was on the way towards Universal.
Meghna Kotian

Quick Facts About Pound Sterling(GBP)

Currency Name
Pound Sterling
Short Name
GBP
Nicknames
Farthing, Pence, Quid, Ster, Sterling, Stg
Symbol(s)
£
Unit
1/100, Penny
Frequently used coins
£1, £2, 1p, 2p, 5p, 10p, 20p, 50p
Rarely used coins
£5, 25p, £500 (Silver Kilo), £1,000 (Gold Kilo)
Frequently used bank notes
£5, £10, £20, £50
Rarely used bank notes
£1, £100
Central Bank, Name & Website
Bank of England | www.bankofengland.co.uk
Nations that recognise the use of pound sterling are:
Botswana, Malawi, Rwanda, Sierra Leone, Tanzania, Uganda, Zambia, Zimbabwe
The Euro Currency

Although the United Kingdom was once a member of the European Union, the region never used the Euro as their official currency, and still maintained their currency of the GBP. The Pound Sterling is the third most held currency reserve in the global reserves, and is regarded as one of the highly valued currencies. It is also the most pegged currency in the world alongside the US Dollar, courtesy its comparative stability.

How to buy forex online?
Thomas Cook not only offers the best-in-market foreign exchange rates, but also provides you with the best deals on international and domestic flight tickets, hotel bookings, and holiday packages. You can either buy forex online or visit the nearest Thomas Cook branch. To find the current GBP TO INR rate or other money exchange rates, you can use our exclusive, free currency exchange converter now.

Here are simple steps to buy Pound Sterling online or convert Pound to Rupee:

If you wish, you can visit the nearest Thomas Cook branch and our experts will be available to assist you, ensuring a seamless offline transaction.

If you still have questions, speak to our experts now and get the best exchange rate today.
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Frequently Asked Questions

I want to buy Pound Sterling for my upcoming trip to the UK. How should I go about it?
You can visit the nearest Thomas Cook centre and meet with one of our representatives to share your exact requirement and they will assist you with the same. In case you cannot visit our centre, then you can also fill up a simple online form to book your forex online.
How much GBP would be enough for my 15-day trip?
This is completely dependent on the nature of your trip, and your personal preferences. If you are confused about the expenses that you might have to incur while you are on the trip, then please contact our team of experts and they will guide you with the proceedings.
Are there any currency regulations to consider for carrying a specific amount of money in/out UK?
You may carry up to €10,000, or foreign currency equivalent, in and out of UK. However, in case the amount you are carrying exceeds the given limit, then you must declare the same. However, if you are taking cash from a EU country then you are not required to declare the amount. In case of taking cash out of UK to another EU country you may have to declare the amount.
I have leftover Sterling Pound from my last trip. What should I do?
If you are to travel to UK any time soon again, we suggest you keep them for the same, and may buy any additional dollars required. However, in case the trip isn’t happening anytime soon then may log on to our website to find out the available exchange rates, and get in touch with our consultants for any expert advice that you may seek before you sell the GBP.
I have spare Euros with me. Can I use them in London?
Generally, Euros aren’t accepted in UK. Even if they are certain tourist places, you will still get the change in pounds after you pay in Euros, and you will end getting a very poor exchange in return. To avoid such scenarios, we suggest you exchange your money to the sterling pound. For more details, you may contact our experts for more detailed advice.
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