500,000 USD to GBP
| GBP British pound sterling | |
|---|---|
| Symbol: | £ |
| Currency code: | GBP |
| Units: | One Pound = 100 pence (p) |
| Also known as: | Sterling, quid |
| Central bank: | Bank of England |
GBP is the currency of the United Kingdom of Great Britain & Northern Ireland.
| US Dollar | |
|---|---|
| Symbol: | $ |
| Currency code: | USD |
| Units: | One Dollar = 100 cents (c) |
| Also known as: | Greenback, Buck |
| Central bank: | US Federal Reserve (“The Fed”) |
USD is the currency of the United States of America, and also used by Ecuador, El Salvador, Panama and the Caribbean Netherlands.
Historical USD/GBP exchange rate 1999–2021
| Year | USD | $500,000 |
| 1998 | 1.66 | $828,673.50 |
| 1999 | 1.62 | $808,840.50 |
| 2000 | 1.51 | $757,467.00 |
| 2001 | 1.44 | $720,044.50 |
| 2002 | 1.50 | $749,791.00 |
| 2003 | 1.64 | $817,749.50 |
| 2004 | 1.83 | $916,447.50 |
| 2005 | 1.82 | $910,135.50 |
| 2006 | 1.84 | $921,433.00 |
| 2007 | 2.00 | $1,000,780.00 |
| 2008 | 1.86 | $927,721.50 |
| 2009 | 1.57 | $782,697.00 |
| 2010 | 1.55 | $772,946.50 |
| 2011 | 1.60 | $802,061.50 |
| 2012 | 1.58 | $792,438.50 |
| 2013 | 1.56 | $782,384.00 |
| 2014 | 1.65 | $823,850.50 |
| 2015 | 1.53 | $764,252.00 |
| 2016 | 1.36 | $677,836.50 |
| 2017 | 1.29 | $644,305.50 |
| 2018 | 1.33 | $667,400.50 |
| 2019 | 1.28 | $638,466.50 |
| 2020 | 1.28 | $642,072.50 |
| 2021 | 1.38 | $692,023.50 |
Typical transactions for 500,000 USD to GBP:
- Buying UK property
- Sale of US property
- Purchase and sale of luxury items such as yachts and fine art
- Business sales
- Investments
- Inheritance
Your trading options for 500,000 USD to GBP:
Spot contract
For a $500,000 USD to GBP trade on the day, or in the very near future, most clients use a spot trade to convert their dollars to pounds. This is the simplest and most direct way to make an immediate transaction at today’s exchange rate.
See the step-by-step process for making a 500,000 USD/GBP trade here.
Forward contract
Due to the extended and complex nature of a typical 500,000 USD to GBP transaction, a forward contract will often be more appropriate.
A forward contract allows you to pay a small deposit to lock in today’s exchange rate for a certain length of time, usually a year.
That way, if during the legal processes for buying a property abroad, for example, the exchange rate changes, you will still be able to transfer your 500,000 USD to GBP at the rate you agreed.
See the step-by-step process for a 500,000 USD to GBP forward contract here.