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Pound
About The Pound: The Currency of the Great Britain
Quick Facts About the Pound Notes
| Country of Origin | Great Britain |
| Symbol | £ |
| Currency Code | GBP |
| Nick Names | Sterling or quid |
| Minor units | penny |
| Denominations (Banknotes) | 5, 10, 20 and 50 pounds |
| Motto | ELIZABETH II D G REG (Dei Gratia Regina) F D (Fidei defensor) |
| Identification Feature | There are currently banknotes issued by the Bank of England in the Series G format with denominations of £5, £10, £20, and £50 in circulation. On the front of each of these bills is a portrait of Queen Elizabeth II, which was introduced onto banknotes for the very first time in the year 1990. |
| Issuing Bank | Bank of England (Currency Notes), Royal Mint (Coins) |
| In Circulation Since | 1694 |
| INR Exchange Rate | 106.8599 |
The United Kingdom and nine of its dependent territories all use the British pound sterling, which is abbreviated as GBP, as their official currency. The pound is the most common denomination in sterling, and the word "pound" is also used to refer to the British currency in general, but the term "pound" is usually qualified as "the British pound currency" or "the pound sterling" when used outside of the United Kingdom. The Euro and the US dollar are the most common trading partners for the British pound.
The live Pound rate is INR (106.8599 ) . You can keep an eye on the pound rate today.
History of the Pound
When the Bank of England was first established in 1694, handwritten pound notes began to circulate. Until the decimal system was adopted in 1971, the pound was used successfully with its intricate system of pennies and shillings.
In 1660, the production of coins was automated, and features like side writing were adopted to aid prevent clipping. In spite of the widespread adoption of the euro as a single currency throughout Europe, the pound sterling (GBP) maintains its separate existence as of the present day.
The United Kingdom decided not to adopt the euro after it had become the common currency of the European Union member states in 2002. The United Kingdom, however, has stuck with the pound sterling as its official currency.
Countries Accepting the Pound
After the US dollar, the EUR, and the JPY, it is the fourth most traded currency in the world. The Sterling Pound, formerly known as Sterling Silver, was introduced in 1158 under the reign of King Henry II. Here is a list of the countries where the British Pound is used as the official currency:
Here is a list of the countries where the Pound is used as the official currency:
- United Kingdom of Great Britain and Northern Ireland
Isle of Man
South Georgia and the South Sandwich Islands
Gibraltar
British Indian Ocean Territory
Amount in the Pound You Should Carry for Your Trip
The entire cost of your vacation to Britain will be determined by a number of aspects, including how you intend to get around the country, where you will be staying, and the number of times you anticipate eating in restaurants. A visitor should prepare to spend approximately £47 per person per day while they are there. A luxury vacation might easily cost more than £350 per person per day if you spend money on things like private transportation, meals at restaurants with Michelin stars, and five-star hotels, all of which are examples of luxury dining and lodging options. However, if you and your significant other are considering taking a trip, you should be aware that the entire price could range anywhere from £150 to £700 depending on the specifics of the trip.
The price of a night's stay in a hotel room in Britain can range anywhere from £25 to £200 per person per day. This much, on average, is how much it comes out to. Your daily transportation expenses could range anywhere from £10 to £60 per day or possibly be higher, depending on whether you choose to walk, ride the bus, or call a cab to go around town.
Check out the pound rate today in India for starting to plan a vacation in Britain.
Best Ways to Identify Counterfeit Pound Notes
There are a few ways through which you can spot the counterfeit Pound notes:
Make sure the £5 and £10 notes have gold foil, while the £20 and £50 notes have gold and blue foil, and the £50 note has gold and green foil. All of the authentic banknotes' backs are covered with silver foil.
Polymer, a thin and flexible plastic, is what the real note is printed on. The words "Bank of England" and the area around the number in the lower right corner of the face of the note are printed in raised print.
The number of an authentic note glows brilliant red and green under UV light while the backdrop glows a duller colour.
No smudges or blurring should occur to the printed lines or colours on the real note.
Examining the real note with a magnifying lens reveals the face value, which is inscribed in tiny characters and numbers beneath the picture of the Queen.
Process of Exchanging the Pound
The process of converting the Pound to Indian Rupee is immensely easy. Please note that the 1 Pound to INR value is subject to change so keep an eye on the Pound rate alert. Below, we have mentioned some of the popular ways to convert Pounds to Rupees.
Internationally-Accepted Card
A multi-currency forex card is counted among the most economical and safest way of carrying the Pound.
The BookMyForex Multi-Currency card can be loaded in 14 currencies and features zero forex mark-up.
Online Forex Marketplace
The simplest and most cost-efficient way of converting your Pound is using an online forex marketplace such as BookMyForex, a platform by MakeMyTrip, offering the best conversion rates and currency exchange service. The platform offers a 5-minute fully-digital online process for currency exchange.
Visiting Your Bank
The most traditional way of converting the Pound to Rupee is by visiting a bank and standing in long queues. It is not only time-consuming but you also end up paying a high cost for making the Pound convert to Indian Rupees.
Local Money Changers
You can look for an Authorised Dealer Category II or someone who has a money changers licence. Money exchangers offer competitive Pound exchange rates, and you’d not need a bank account in this case. However, the process of rate haggling can be quite frustrating for those who are looking for an easy way to convert Pound to INR.
On the other hand,BookMyForex, the online marketplace, offers internationally-accepted forex card and currency notes at the best rates via a convenient online process.
Airport
If you would like to convert the Pound in India, one of the costliest ways to do so would be to get the Pound exchanged at an airport due to the exorbitantly high GBP exchange rates. Currency exchange at the airport will prove to be 5%-15% costlier than BookMyForex.
Exchange the Pound with BookMyForex
BookMyForex, the online forex marketplace by MakeMyTrip, makes it a hassle-free affair for you to convert the GBP to Indian Rupees as well as Indian Rupee to Pound. Please note that the 1 Pound to INR value is subject to change so keep an eye on the Pound rate alert. You should choose MakeMyTrip for currency exchange for the following reasons:
Wide Range of Products
Forex (Currency Notes) - Available in 100+ cities across India, BookMyForex allows you to get your currency notes delivered on the same day or the next day after 100% digital booking.
BookMyForex Multi-Currency - You can load this card in 14 currencies with 0% Forex Mark-up. Once you have booked this card, you can receive it the same day (if booking is made before 1 PM) or the next.
International Travel Insurance - TripMoney also offers international travel insurance at cheapest rates in the market. Also, you can opt for this product if you’d like TripMoney to handle your mandatory travel insurance requirements along with a VISA application.
Travel Loan - With TripMoney, you can avail a travel loan of up to INR 1,00,000 (lifetime limit) for all your travel and holiday needs.
Best Exchange Rates
BookMyForex makes it easy for you to buy Pound or sell Pound at live and best exchange rates.
Quick Money Transfer
You can also enjoy quick international money transfers on BookMyForex. The 5-minute digital process offers the best forex rates, and you can receive funds abroad within 12 to 48 hours.
Home Delivery
BookMyForex delivers the Pounds at your doorstep. So, you can simply order and receive your currency from the comfort of your home.
Best Rates to Exchange the Pound
You’d need to keep an eye on the current currency rates, if you’d like to know the exact value you’d get on converting 1 Pound in Rupees. The exchange rates keep on fluctuating. BookMyForex, an online forex marketplace by MakeMyTrip, keeps you updated with the live currency exchange rates. You can keep up with the changing value of 1 Pound in India in real-time on the platform and get the best deal. Currently, 1 GBP is equivalent to 106.8599 INR .
Best Ways to Carry the Pound
BookMyForex allows you to convert INR to the Pound at the best exchange rates so that you can carry the Pounds without any hassle. Some of the best ways to carry the Pound are mentioned below:
Currency Notes
You can buy the US Dollar notes at live and best exchange rates on BookMyForex so that you can be ready for your trip with sufficient cash in your hand.
BookMyForex Multi-Currency Card - 0% Forex Mark-Up
The Multi-Currency Forex Travel Card available on MakeMyTrip with BookMyForex as the co-branding partner comes with 0% forex mark-up over interbank rates.
How to Buy the Pound at Best Rates - Currency Notes and Cards
Whether you want to buy forex cards and currency notes or sell the Pound, MakeMyTrip makes the entire process quite easy. It doesn’t matter whether you want to convert the Pound to Euro, Pound to Pound or INR to Pound, you only need to follow the below-written steps:
- STEP 01
Select your city from the drop-down list.
- STEP 02
Choose the currency you have and the currency you want.
- STEP 03
Opt for a forex card or currency notes from the list.
- STEP 04
Mention the forex amount. The live currency exchange rate will show up next to it.
- STEP 05
The converted currency amount according to the exchange rate will show up automatically.
- STEP 06
Then proceed with booking your order.
Documents Required to Buy or Sell the Pound
Here are some important documents mandated by the RBI that you must submit in order to buy or sell the Pound in India.
Copies of your valid Indian passport
PAN Card
Confirmed air ticket indicating your plan to travel within 60 days
Valid visa (it may not be required for every country)
Different Purposes for Exchanging the Pound
Private Travel: You can avail of up to GBP 10,000 for a private trip to the Great Britain.
Studying Abroad: You can purchase foreign exchange of up to GBP 30,000 or up to the estimate shared by your educational institute.
Employment Purpose: In case you have a letter of employment, you can buy foreign exchange of up to GBP 5,000.
Emigration: If you have an emigration visa, you can buy foreign exchange for up to GBP 5,000.
Gift and Donation: You can gift or donate up to GBP 5,000 annually on the basis of self-certification
Medical Treatment: On the basis of self-certification, you can buy foreign exchange of up to GBP 50,000 for medical treatments outside of India. Once the limit is surpassed, you have to provide the estimated expense that would be incurred at the hospital.
Buy and Sell the Pound Online at Best Exchange Rates
With BookMyForex, the online forex marketplace by MakeMyTrip, you can easily convert your currency. Enjoy unbeatable currency exchange rates and opt for BookMyForex Multi-Currency Cards as well as foreign currency notes. with no forex mark-up. MakeMyTrip also present the real-time value of one Pound in Indian Rupees so that you can stay updated with the ever-changing Pound value when converting your money to other currencies.
Home Delivery of the Pound
In addition to a smooth online process, BookMyForex also delivers the Pounds right at your doorstep. In fact, you can enjoy same-day door delivery. So, you do not have to waste any time visiting a local money exchanger and picking up your money.
Other currencies to INR Conversion
- USD to INR
- EUR to INR
- AED to INR
- THB to INR
- SGD to INR
- CHF to INR
- HKD to INR
- SAR to INR
- CAD to INR
- ZAR to INR
- AUD to INR
- JPY to INR
- GBP to INR
- NZD to INR
- MYR to INR
- VND to INR
- BHD to INR
- IDR to INR
- KRW to INR
- NOK to INR
- DKK to INR
- RUB to INR
- LKR to INR
- PHP to INR
- MUR to INR
- BDT to INR
- PLN to INR
Frequently Asked Questions
How do i get cashback after placing my forex order?
Find out more about the cashback offer for your Pound (GBP) purchase by clicking here.
How much time will it take for GBP to be delivered to home?
Any foreign currency exchange made through currency notes and cards is usually delivered within a day.
What will happen to the leftover Pound currency when I return from my trip?
You can easily exchange any leftover currency notes or the money left in your Forex card with MakeMyTrip, powered by BookMyForex, once you have returned from your trip.
Can I invest in the Pound?
Yes, you can invest in the Pound via mutual funds, ETFs, or ETNs. However, you should keep an eye on market fluctuation and geopolitical concerns.
Will I receive authentic Pound notes?
Yes. MakeMyTrip offers genuine notes from RBI-licensed companies only.
Is it legally allowed to hold Pound in India?
While it is acceptable to hold the Pound up to the amount authorised by RBI, you cannot use this currency for any kind of transaction in India.
How much GBP can I carry to Great Britain as a student?
Travellers or students carrying more than 10,000 GBP must declare a valid declaration to UK customs.
What if I run out of the Pound currency while travelling?
If you are carrying a MakeMyTrip multi-currency Forex card while travelling, then you can easily load it up and receive the money abroad within 48 hours.
1 Pound is made up of how many pence?
The subunit of the Pound is the penny. Therefore, 1 pound is made up of 100 pence.
Tell me about the most commonly used denominations of Pound.
The most commonly used denominations of banknotes are £5, £10, £20 and £50. On the other hand, the most commonly used coins include 1p, 2p, 5p, 10p, 20p, 50p, £1 and £2.
Is the Pound accepted in other countries?
The Pound currency is accepted in the United Kingdom as well as the Crown Dependencies, including Guernsey, Jersey and Isle of Man. It is also accepted in the British Antarctic Territory, Gibraltar, Saint Helena, Falkland Islands and South Georgia and the South Sandwich Islands, Ascension Island and Tristan da Cunha.
Does the Pound fluctuate in the market?
The British Pound is considered to be extremely volatile in nature, and that’s why, it fluctuates all day long. You can track the live exchange rates on our platform and convert Pound to INR at the best Pound rate.
Does the United Kingdom have any commemorative coins?
There have been several commemorative coins that have been issued by the Royal Mint in the United Kingdom since the year 1935. Some of the most recent commemorative coins include a five-pound coin issued in 2023 to celebrate the 75th birthday of King Charles III and a fifty-pence coin issued to commemorate the Coronation of Charles III in 2023.