Today, 1.00 (one) Pound is worth 1.20 Euro, ie, £1.00 = €1.20. That's because the current exchange rate, to EUR, is 1.20. So, to make Pound to Euro conversion, you just need to multiply the amount in GBP by 1.20.
Learn how to get the best Pound exchange rate before exchanging your money
The Pound is the official Pound currency. GBP/EUR represents the value of Pound money in Euro money and it is called the 'exchange rate' or 'forex rate'. This exchange rate from Pound to Euro is today at 1.205.
As an example, suppose you are from Paris European Union and you travel to London Great Britain. There, you need to get 1000 Pounds ( £) at a London bank to pay your hotel. In this case you would pay 1.205 * 1000 = 1,204.812 Euros (€). But, in practice, you will pay more (or perhaps much more) to get the same amount of your foreign currency due to the margin for the money conversion services costs like: commissions, credit card surcharges, ATM fees and other expenses. If, for example, you are using a credit card, this margin will typically be around 2 to 3 percent. We recommend that you choose the best place to make your money exchange because there can be a large difference between forex rates you will get.
In the example above for a 1000 Pounds amount, the result of the money conversion is 1,228.909 EUR for a 2% margin or 1,240.957 EUR for a 3% margin.
Some Internet based foreign currency exchange agencies add 10 percent or even more. So, if you make the same calculations above, there will be a difference of about 120.481 EUR depending on which forex bank or agency you choose to exchange your money. So, that's why we advise you to seek the best place to get the best fx rates for your upcoming money transfer/exchange. The only way to know what is the best exchange rate is to know what the current rate is. You can easily accomplish this by using periodically our currency converter above to get an idea of what forex rate to expect.
Note: If you use our currency converter, you only need to choose the amount of margin in its drop-down list and have an estimate of how much you will pay to get the desired amount.
By the way: there are some notations for this currency pair like GBP-EUR or GBPEUR among others. The currency symbol for Pound is (£) while the currency symbol for Euro is (€). Note also that the Great Britain country code is GBR or GB.
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