Converting a US dollar amount---often abbreviated to USD in currency markets---to UK Pounds (GBP) is pretty straightforward. All you need is a reliable exchange rate and a calculator. According to the US Inland Revenue Service, the average exchange rate for dollars to pounds in 2009 was 0.641. That means that for every dollar, you would receive 64 British pence. The overall average from 2004 to 2009 was 0.55 dollars to the pound. However, remember that exchange rates can fluctuate widely throughout the year.
Find a reputable source for current exchange rates. Use figures from your banking organisation, or visit an online currency converter. This guide assumes that you will use an online currency converter site.
Select USD or United States dollar from the conversion menu. The options may be listed by country or by currency name.
Choose GBP or British pounds in the second currency field. Click the "Convert" button or equivalent. This should display a current rate figure.
Write down the exchange rate on a notebook or memorise the number. This is to give you a figure to work off for future calculations.
Use a calculator--or mental arithmetic--to convert dollars into UK pounds when you're away from a computer. Enter the amount of dollars into the calculator then multiply by the exchange rate figure. For example, if the current exchange rate is 0.58 dollars to the pound and you want to convert 15 dollars to a GBP amount, enter 0.58 into your calculator and multiply by 15. This would give a figure of 8.82. That means that £9 = £8.82
Exchange rates will vary, but a good rule of thumb if you don't have a calculator available is that UK pounds are usually worth approximately one and a half US dollars.
Tips and warnings
- Exchange rates will vary, but a good rule of thumb if you don't have a calculator available is that UK pounds are usually worth approximately one and a half US dollars.