Exchange Rates
British pound and US Dollar Info
At the current exchange rate, $1 US is equal to .6973 British pounds.
To reverse the equation, 1 British pound equals $1.44 US.
When reviewing conversion rates on your mobile app (I use XE Currency) know these rates are for institutional buyers, like banks, so for purchasing currency for your trip, be aware there is a bank service fee.
Today's conversion rate is shown in the reference chart below. I'll be including one of these updated pocket charts in your travel documents. Keep it on hand during your trip for easy reference. There will continue to be daily fluctuations in the currency, but as a reference, when last in England 4 years ago, 1 GBP cost me approximately $1.60. So now we are getting more pounds for our dollar.
Still, it is important to realize if you see something in a shop or on a restaurant menu for 20 GBP, the equivalent cost in US dollars would be $28.79. I think you will find food and some souvenirs a higher cost than in the US. But you can still find bargains with pub food and small cafes.
I am always asked: "how much money should I bring?" Of course, that can vary widely depending on the individual. I recommend you have credit card with no foreign transaction fees and the must-have chip for most purchases. But if you want to pick up a snack or a trinket, no doubt you may need to pay cash. Then there are tips to consider. For that reason I recommend as a minimum $100 which will give you about 69 British pounds (10 GBP a day).
The second question I am asked, is "can't I just use an ATM machine?". The answer is of course yes, but I think it is convenient and less stressful to arrive with a bit of the local currency. And then you don't have to worry about a machine eating your card, or wondering if it will tack on a separate surprise fee.
Bank of America has an easy to use online foreign currency ordering process if you are an account holder. The currency can be delivered to your home or to your nearest bank branch within a few days.. Check with your own bank for their policies.