Monday, June 8, 2026 - The British Pound has declined against the US Dollar due to escalating Middle East tensions, particularly between Iran and Israel, which have heightened market risk aversion. Additionally, the Pound has weakened amid conflicting reports on US-Iran negotiations, with higher oil prices and persistent US inflation supporting a hawkish Federal Reserve outlook. Furthermore, political uncertainty in the UK, including rumors of Prime Minister Keir Starmer's resignation, has added pressure on Sterling.
| 1 $ = | Start | 06/08/2026 | Change | |
| Last 24 hours | 0.7504 £ | ⇨ | 0.7495 £ | -0.12% |
| Last week | 0.7431 £ | ⇨ | 0.7495 £ | +0.87% |
| Last month | 0.7335 £ | ⇨ | 0.7495 £ | +2.19% |
| Last year | 0.7394 £ | ⇨ | 0.7495 £ | +1.37% |
| Currency | 06/01/2026 | 06/08/2026 | Change | |
| Israeli Shekel (ILS) | 2.8217 ₪ | ⇨ | 2.929 ₪ | +3.81% |
| Brazilian Real (BRL) | 5.0384 R$ | ⇨ | 5.2016 R$ | +3.24% |
| Chilean Peso (CLP) | 892.37 $ | ⇨ | 920.71 $ | +3.18% |
| Venezuelan Bolívar (VES) | 548.69 Bs. | ⇨ | 562.59 Bs. | +2.53% |
| New Zealand Dollar (NZD) | 1.6851 NZ$ | ⇨ | 1.7217 NZ$ | +2.17% |
| Nicaraguan Córdoba (NIO) | 36.805 C$ | ⇨ | 36.61 C$ | -0.53% |
| Philippine Peso (PHP) | 61.912 ₱ | ⇨ | 61.581 ₱ | -0.53% |
| Nigerian Naira (NGN) | 1,369.4 ₦ | ⇨ | 1,361.1 ₦ | -0.6% |
| Seychellois Rupee (SCR) | 13.677 SR | ⇨ | 13.466 SR | -1.54% |
| Zambian Kwacha (ZMW) | 18.178 ZK | ⇨ | 17.56 ZK | -3.4% |
| See also: 24h, monthly and yearly currency moves | ||||
| Currency name | British Pound |
| Symbol | £ |
| Also known as | Pound Sterling, £1 = 100 pence, £1 = 1 quid |
| ISO code | GBP |
| Banknotes | £5, £10, £20, £50, £100 |
| Coins | 1p, 2p, 5p, 10p, 20p, 50p, £1, £2 |
| Central bank | Bank of England (BoE) - Website: www.bankofengland.co.uk |
| Countries | 9 countries: United Kingdom (England, Northern Ireland, Scotland, Wales; capital: London), Falkland Islands, Gibraltar, Guernsey |
| Population | 70 mil. |
History
The pound sterling is the world's oldest currency still in active use, tracing its roots to 775 AD when silver pennies — known as sterlings — circulated across the Anglo-Saxon kingdoms. The name "pound" derives from the Latin libra pondo, meaning a pound by weight of silver. By the time of King Offa of Mercia, 240 silver pennies constituted one pound, a ratio that defined British coinage for over a thousand years.
Following the Norman Conquest of 1066, the pound became the foundation of England's monetary system. The gold sovereign, introduced in 1489 under Henry VII, marked England's shift toward gold coinage. By the 17th century, London had become Europe's premier financial centre, and the Bank of England was established in 1694 to manage government debt and issue notes.
Britain formally adopted the gold standard in 1821, pegging the pound to a fixed weight of gold. This system underpinned sterling's role as the world's dominant reserve currency throughout the 19th century. At its imperial peak, the pound financed trade across a quarter of the globe. The gold standard was suspended during World War I and never fully restored; Britain abandoned it definitively in 1931.
After World War II, the Bretton Woods Agreement (1944) pegged sterling to the US dollar, but persistent balance-of-payments deficits forced a devaluation in 1967. When the Bretton Woods system collapsed in 1971, the pound floated freely. A dramatic decline followed: by 1985, one pound bought barely $1.05. Since then sterling has traded broadly between $1.20 and $2.00, with sharp moves around the 2008 financial crisis, the 2016 Brexit referendum, and the 2022 mini-budget episode.
Today the pound is issued by the Bank of England and is the official currency of the United Kingdom and several British Overseas Territories. It remains one of the world's five most-traded currencies and a significant reserve currency.
Sources:
"History of the pound sterling", Wikipedia, https://en.wikipedia.org/wiki/History_of_the_pound_sterling
"Bank of England", Wikipedia, https://en.wikipedia.org/wiki/Bank_of_England
"Bretton Woods system", Wikipedia, https://en.wikipedia.org/wiki/Bretton_Woods_system