British Pound foreign exchange rates
Currencies below quoted against GBP (base currency): Feb 20, 2018
Which currency is the most secure to hold savings in, so that they wouldn't decrease in the value over time?
Nico, thank you for a question. It’s hard to say which currency is the most reliable and stable for your own personal capital, yet the smartest thing to do would be to choose the currencies that are acknowledged as the most secure and popular in the world. If you own particularly large amount of money, you should do a better research and hire a financial consultant who would analyze which currencies are the best for your savings and determine what meets your needs. Some of the currencies that are considered to be the most secure are: Norwegian krone, euro, US dollar, Swiss franc, Swedish krona, British pound, Canadian dollar, Japanese yen.
Polina, thank you for your question. There are no valid 100 pounds banknotes anymore. Only the example of the historical 100 pounds banknote. The valid British pound notes are: 5, 10, 20 and 50.
Hello. What is your opinion on the future of the pound in regard to euro after what has happened yesterday in the UK? Thank you.
Dexter, thank you for the question. As I mentioned before, pound exchange rate is going to be very unstable during the period of withdrawal from the European Union. However, in my opinion, Great Britain will benefit from its decisions and the pound will recover in a long period of time. The situation is very unstable at the moment and the pound is sensitive to any changes, the markets need to settle and deal with this situation. There is going to be a lot of discussions regarding the exit bill that the UK will be required to pay, it will also concern customs, trade and other aspects, which are going to depend on Britain. I believe that that Britain will deal with the issue and leave UK, which will make the pound grow stronger. We will find out if my wrong in a couple of years. Meanwhile, the forecast for the pound is very unpredictable and unstable.
Hello, where was it announced that the next £5 note would expire on May 1? Banks refuse to exchange £5 banknotes, saying that they are expired. Which sites announce information about foreign currencies and when they are replaced with the new ones or withdrawn? Thank you.
Pertha, thank you for the question. Information regarding valid banknotes is announced in the England’s press releases, by the Bank of England. Here’s an announcement by the Bank of England published on 5 April:
The Bank of England will be withdrawing legal tender status of the paper £5 note, featuring Elizabeth Fry, on 5 May 2017. We are encouraging anyone who still has paper £5 notes to spend them over the next month. Over 50% of all Fry fivers have already been returned to us to be destroyed, but there are still around 160 million notes left in circulation.
After 5 May 2017, retailers and the public no longer have to accept the paper £5 note as payment or in change. The new polymer £5 note featuring Sir Winston Churchill will be the only £5 note with legal tender status. Some banks and building societies may accept paper £5 notes after 5 May, but this is at their own discretion. The Bank of England will continue to exchange Fry £5 notes for all time, as we would for any other Bank of England note which no longer has legal tender status.
In September this year, we will issue a new polymer £10 note featuring Jane Austen. The note will recognise her universal appeal and enduring contribution to English literature. Jane Austen joins Sir Winston Churchill, Adam Smith and Matthew Boulton and James Watt in showcasing British culture on Bank of England notes.
The new polymer £5 note was first issued on 13 September 2016 and is cleaner, safer and stronger than its paper counterpart. Our polymer banknotes include a new generation of security features which make them even harder to counterfeit. They are also resistant to dirt and moisture, and so they remain in better condition for longer. The strength of the polymer material means that the New Fiver is expected to last at least 2.5 times longer than the paper note – around five years.
What do you think about Great Britain pound exchange rate after Brexit? Does Theresa's May actions will impact rate for the future? I have savings in pounds, advice me what to do.
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