Q:

How do you exchange British pounds to U.S. dollars?

A:

Quick Answer

To exchange British pounds to U.S. dollars, find the current exchange rate, determine the destination to exchange, understand the costs and execute the transaction, notes USA Today. Financial websites such as Oando offer live currency exchange rates for specific quantities, states the organization's official website.

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Full Answer

Visitors of Oando can enter a specific currency, such as the British pound and convert it to a desired currency based on the real-time rate, lists the Oanda website. Bid prices, ask prices and real-time charts are available to help understand currency values. After viewing the rate, a person must choose a specific destination to make the exchange. Common destinations include airports and banks, notes USA Today. In most instances, banks offer the most competitive rate.

After choosing a bank, a person must call the bank beforehand to confirm that it offers currency exchange, mentions USA Today. As of 2015, not all banks offer currency exchange as a service. Certain banks offer meetings with a specific teller to make the currency exchange.

Finally, a person must initiate the exchange by agreeing to a certain rate and providing the currency. In some cases, it is necessary to present a driver's license or passport, states USA Today. A person must also pay any relevant fees or commissions associated with the exchange.

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