The English or British pound is the currency used in the United Kingdom, which is comprised of England, Scotland, Northern Ireland and Wales. If you are planning on travelling to the U.K. from the United States, you must know how to convert pounds to dollars so that you can keep track of your spending and prevent your account from becoming overdrawn while you are in the U.K. Knowing how to convert pounds to dollars is also useful when determining how many dollars you will receive when you exchange money upon your return.
Obtain the current exchange rate. The currency exchange between pounds and dollars changes daily. The exchange rate is available on the Wall Street Journal website or you can call your local bank for the exchange rate.
Multiply the number of pounds by the exchange rate. Whether you are determining how much a purchase costs in U.S. dollar or if you are going to see how much you will be receiving in dollars when you exchange the currencies, take the total number of pounds and multiple it by the current rate. For instance, if you are converting 250 pounds to dollars and the exchange rate is 1.6027 the equation is 250 x 1.6027 = 400.68. Therefore, 250 pounds converts to £260.4.
Take the British pounds to your local bank or currency exchange to convert them to U.S. dollars. Most banks will exchange British pounds for U.S. dollars for a small fee. Call your bank before going to ensure that it will convert the currencies. Currency exchanges, which are often found in airports, will also exchange the currency for a higher fee.
If you do not want to calculate the conversion with a calculator, you can obtain the conversion using a currency conversion tool on a website, such as Bloomberg.com or XE.com.
Tips and warnings
- If you do not want to calculate the conversion with a calculator, you can obtain the conversion using a currency conversion tool on a website, such as Bloomberg.com or XE.com.