Exchange Rate in United Kingdom
The British Pound experienced notable volatility from 2013 to 2022. The currency remained relatively stable until 2016, but the Brexit referendum triggered a significant depreciation due to uncertainty over the UK's economic future. Brexit negotiations and the COVID-19 pandemic added further instability, but the Pound gradually stabilized, albeit at weaker levels compared to pre-referendum, reflecting the country's reduced attractiveness to investors and lingering uncertainties over the trading relationship with the EU.
The exchange rate ended 2022 at GBP 1.20 per USD, compared to the end-2021 rate of GBP 1.35 per USD and the rate a decade earlier of GBP 1.66 per USD for the United Kingdom. For more exchange rate information, visit our dedicated page.
United Kingdom Exchange Rate Chart
Note: This chart displays Exchange Rate (vs USD) for United Kingdom from 2014 to 2023.
Source: Macrobond.
United Kingdom Exchange Rate Data
| 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|
| Exchange Rate (USD per GBP, eop) | 1.32 | 1.37 | 1.35 | 1.20 | 1.27 |
| Exchange Rate (USD per GBP, aop) | 1.28 | 1.28 | 1.38 | 1.23 | 1.24 |
| Exchange Rate (EUR per GBP, eop) | 1.18 | 1.12 | 1.19 | 1.13 | 1.15 |
| Exchange Rate (EUR per GBP, aop) | 1.14 | 1.13 | 1.16 | 1.17 | 1.15 |
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects British exchange rate projections for the next ten years from a panel of 37 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable exchange rate forecast available for British exchange rate.
Download one of our sample reports to visualize what a Consensus Forecast is and see our British exchange rate projections.
Want to get access to the full dataset of British exchange rate forecasts? Send an email to info@focus-economics.com.