We noticed that you're using an unsupported browser. The TripAdvisor website may not display properly.We support the following browsers:
Windows: Internet Explorer, Mozilla Firefox, Google Chrome. Mac: Safari.

converting usd/gbp

Level Contributor
66 posts
22 reviews
Save Topic
converting usd/gbp

What is the formula to convert dollars to pounds and reverse.

Best Seller
Stonehenge, Windsor Castle and Bath...
5,233 reviews
from US$125.50*
Best Seller
Making of Harry Potter Round-Trip...
439 reviews
from US$104.40*
Best Seller
Stonehenge, Windsor Castle, Bath...
2,069 reviews
from US$148.10*
Best Seller
Harry Potter Tour of Warner Bros...
628 reviews
from US$100.10*
Hitchin, United...
Level Contributor
8,476 posts
46 reviews
Save Reply
1. Re: converting usd/gbp

It changes daily, check at a currency conversion website to get the up to date rate.

www.xe.com

London, United...
Level Contributor
696 posts
93 reviews
Save Reply
2. Re: converting usd/gbp

See http://www.xe.com/ for this. Try to avoid Bureau de Changes if you can and stick to an ATM for cash.

London, United...
Level Contributor
10,044 posts
23 reviews
Save Reply
3. Re: converting usd/gbp

It depends on the current exchange rate-

http://www.xe.com/ucc/

Thank you.

London, United...
Level Contributor
8,023 posts
524 reviews
Save Reply
4. Re: converting usd/gbp

Check this site out .

http://www.dollarstopounds.co.uk/

One dollar = £0.62

London
Level Contributor
10,578 posts
64 reviews
Save Reply
5. Re: converting usd/gbp

The exchange rate moves by the second. However, all Banks and Bureau de Change "fix" their rate for the next day based on the rate at close of business on the previous day.

The conversion sites (such as xe.com or reuters) show the "interbank" rate. We members of the public will never (never ever) get that rate when exchanging cash, the conversion rate we get will always be slightly worse than the interbank rate.

The key thing is to ensure you are getting a rate close to the interbank rate, and not 10% or 20% away from it.

You should expect to see something very close to the interbank rate on any debit card or credit card transactions - though it'll be the rate at the time the transaction is processed through the bank system - not necessarily the day of purchase. So you might gain or lose slightly because of that time lag.

Niskayuna, New York
Level Contributor
491 posts
6 reviews
Save Reply
6. Re: converting usd/gbp

Google is your friend.

London, United...
Level Contributor
1,478 posts
55 reviews
Save Reply
7. Re: converting usd/gbp

You should always aim to get a rate with a 2% or smaller load compared to the interbank rate if you are using a bureau de change.

Debit and credit card transactions do indeed use a wholesale rate very close to the interbank, but often your card issuing bank will charge a 2-3% load, some charge a service fee instead/as well. Always check with your bank.

USA
Level Contributor
7,048 posts
249 reviews
Save Reply
8. Re: converting usd/gbp

The formula? Multiply the dollars you wish to convert by the conversion factor as expressed in pounds per dollar. Assuming the current rate of £0.61930/$ then $100 equals £61.93.

The reverse? Divide the pounds you wish to convert by the conversion factor as expressed in pounds per dollar. Assuming the current rate of £0.61930/$ then £100 equals $161.47.

Some people do get the interbank rate when obtaining cash from an ATM and when making purchases with a credit card. Some examples of cards that do no mark up the interbank exchange rate are here: flyerguide.com/wiki/index.php/Credit/Debit/A…

Steamboat Springs...
Level Contributor
943 posts
78 reviews
Save Reply
9. Re: converting usd/gbp

You can get any of several free Apps for your smart phone if you have one so you can "instant' info.

Cheers

Hitchin, United...
Level Contributor
8,476 posts
46 reviews
Save Reply
10. Re: converting usd/gbp

Only on TA can you get 9 answers to one simple question! Somebody always tries to "outclever" the previous answer.

The OP just wants to know how to work out a basic formula, I'm not sure he ever asked about Interbank, debit cards, credit cards, ATMs, bureau de change or anything else. Just how to compare 2 currencies. Lol.