Calculate currency conversions from GBP (Sterling)
£
USD – US Dollar ($)
EUR – Euro (€)
AUD – Australian Dollar ($)
CAD – Canadian Dollar ($)
JPY – Japanese Yen (¥)
INR – Indian Rupee (₹)
NZD – New Zealand Dollar ($)
Enter the rate offered by your bank or provider.
Use average market rate
£
Flat fee charged by the provider (optional).
Amount Sent:£0.00
Transfer Fee Deducted:– £0.00
Convertible Amount:£0.00
Exchange Rate Used:1.0000
Recipient Gets:0.00
Understanding UK Exchange Rates
Whether you are planning a holiday, buying property abroad, or sending money to family overseas, understanding how the exchange rate works is crucial for UK residents. The exchange rate determines how much foreign currency you get for every British Pound (GBP) you sell.
Banks and money transfer services typically make money in two ways: charging a fixed transfer fee (e.g., £5.00 per transaction) and adding a markup to the exchange rate. This calculator helps you see the net result of your transfer after fees are deducted.
How to Use This Calculator
Amount to Convert (GBP): Enter the total amount of Sterling you wish to exchange.
Target Currency: Select the currency you are buying (e.g., US Dollars, Euros).
Exchange Rate: Input the specific rate quoted by your provider. Since rates fluctuate every second, check your bank's current "Sell" rate for accuracy.
Transfer Fee: If your bank charges a separate fee to send the payment, enter it here. This will be deducted from your GBP total before conversion.
Factors Influencing the Pound (GBP)
The value of the British Pound floats freely against other currencies. Several factors impact how many Euros or Dollars you can buy with your pounds:
Bank of England Interest Rates: Higher interest rates in the UK generally attract foreign investment, increasing demand and value for GBP.
Inflation Data: High inflation can devalue the currency, although it may also lead to interest rate hikes which support it.
Economic Performance: GDP growth, employment figures, and trade balances all signal the health of the UK economy to forex traders.
The "Real" Cost of Exchange
When you see a rate on the news (the "Interbank Rate"), this is rarely the rate you will get as a consumer. High-street banks in the UK typically add a "spread" of 2% to 4%. Specialized FX brokers often offer tighter spreads (closer to the market rate), potentially saving you hundreds of pounds on large transfers.
Example: If the market rate for GBP/USD is 1.30, a bank might offer you 1.26. On a £10,000 transfer, this difference effectively costs you $400 USD.
// Indicative rates for demonstration (approximate averages)
var indicativeRates = {
'USD': 1.27,
'EUR': 1.16,
'AUD': 1.90,
'CAD': 1.70,
'JPY': 188.50,
'INR': 105.00,
'NZD': 2.05
};
var currencySymbols = {
'USD': '$',
'EUR': '€',
'AUD': '$',
'CAD': '$',
'JPY': '¥',
'INR': '₹',
'NZD': '$'
};
function updateCurrencyLabel() {
// Just ensures logic is ready for the next calc, UI updates happen in calculation
}
function fillIndicativeRate() {
var currency = document.getElementById('targetCurrency').value;
var rateInput = document.getElementById('exchangeRate');
if (indicativeRates[currency]) {
rateInput.value = indicativeRates[currency];
}
}
function calculateExchange() {
// 1. Get Input Values
var amountGBP = document.getElementById('amountGBP').value;
var rate = document.getElementById('exchangeRate').value;
var fee = document.getElementById('transferFee').value;
var currency = document.getElementById('targetCurrency').value;
// 2. Validation
if (amountGBP === "" || amountGBP <= 0) {
alert("Please enter a valid amount in GBP.");
return;
}
if (rate === "" || rate <= 0) {
alert("Please enter a valid exchange rate.");
return;
}
// Convert strings to floats
var amountNum = parseFloat(amountGBP);
var rateNum = parseFloat(rate);
var feeNum = parseFloat(fee);
// Handle empty fee
if (isNaN(feeNum)) {
feeNum = 0;
}
// 3. Calculation Logic
// In this model, the fee is deducted from the source GBP amount
var convertibleAmount = amountNum – feeNum;
// If fee consumes the whole amount
if (convertibleAmount < 0) {
convertibleAmount = 0;
}
var resultAmount = convertibleAmount * rateNum;
// 4. Update UI
var symbol = currencySymbols[currency] || '';
document.getElementById('displayAmountSent').innerHTML = '£' + amountNum.toFixed(2);
document.getElementById('displayFee').innerHTML = '- £' + feeNum.toFixed(2);
document.getElementById('displayConvertible').innerHTML = '£' + convertibleAmount.toFixed(2);
document.getElementById('displayRate').innerHTML = rateNum.toFixed(4);
document.getElementById('targetCurrencyLabel').innerText = 'Recipient Gets (' + currency + '):';
document.getElementById('finalResult').innerText = symbol + resultAmount.toFixed(2);
// Show result box
document.getElementById('result').style.display = 'block';
}