Exchange rates from £1

The currency of the United Kingdom is the British pound, or pound sterling. When we refer to foreign currency, we mean the money that a different country uses such as baht in Thailand or rupees in India.

Not all currencies have the same value. We use exchange rates to convert from one currency to another.

Exchange rates are published in newspapers and online where the pound is matched against various currencies. This table shows examples of exchange rates, but they change constantly to reflect the current economy.

CountryCurrencyExchange rate for British pounds
DenmarkKroner10.38
JapanJapanese yen190.49
South AfricaRand19.33
SwitzerlandSwiss franc1.46
EurozoneEuro1.39
United StatesDollars1.55

To convert from British pounds to a foreign currency, you multiply by the exchange rate.

Formula for converting foreign money and exchange rates £1 = €1.39 (x 1.39)

Example

£20 × 1.39 = €27.80.

Question

Emma is going to South Africa and wants to exchange £250. Based on the table above, how many rand should she get?

The exchange rate for South African rand is 19.33.

250 × 19.33 = 4,832.50 rand.

To convert from a foreign currency to British pounds, you divide by the exchange rate.

Formula for converting foreign money and exchange rates £1 = €1.39 (÷ 1.39)

Example

€278 ÷ 1.39 = £200.

Question

Emma returns from South Africa with 85 rand. How much is this worth in British pounds?

85 ÷ 19.33 = 4.397309.

This answer needs to be rounded to two decimal places.

85 rand is worth £4.40.