Great Britain Economic Information
Central Bank: Bank of England (BoE)
Currency: British Pound, Pound Sterling (GBP or £)
Informally known as the pound or quid, the pound sterling has been a popular choice among investors. That's because Great Britain's economy has historically been one of the strongest in Europe. In addition to its long-standing history of stability, the pound enjoys its status as one of the most traded currencies on the foreign exchange. While Great Britain is a member of the European Union (EU), the country's government has chosen not to adopt the euro and debates the level of economic interaction it should have with the EU. The outcome of this debate could have an impact on the country's trade freedom.
Key industries:
Machine tools, electric power equipment, automation equipment, railroad equipment, shipbuilding, aircraft, motor vehicles and parts, electronics and communications equipment, metals, chemicals, coal, petroleum, paper and paper products, food processing, textiles, clothing and other consumer goods.
Agricultural products:
Cereals, oilseed, potatoes, vegetables; cattle, sheep, poultry and fish.
Export commodities:
Manufactured goods, fuels, chemicals, food, beverages and tobacco.
Import commodities:
Manufactured goods, machinery, fuels and foodstuffs.
Historical foreign currency exchange rates
 Downward Trend |
 Upward Trend |
| Source: These exchange rates are interbank rates as published by Interactive Data as of 3/14/2010. These rates were not available to retail customers and were not the rates offered by EverBank®. Past performance does not guarantee future results. |
A few factors to consider when evaluating the British pound:
Reasons to consider
- Britain, specifically London, is a center for international finance.
- The pound is the 4th most-traded currency in the foreign exchange.
- Though economic growth is predicted to slow, the effects could be offset as London prepares to host the 2012 Olympic Games.
Risk factors to consider
- The pound was down over 26% against the U.S. dollar in 2008. This comes as a result of a global credit crunch and tighter lending conditions.
- A drop in British interest rates in 2009 could cause the pound to drop. The low interest rates are a turn off for investors who prefer to invest where they would receive a better return.
How EverBank can help with your British pound needs?
WorldCurrency® CDs (Single-currency CDs): Earn interest rates at local rates in the currency of your choice.
WorldCurrency Basket CDs (Multi-currency CDs): Open a single CD comprised of multiple currencies, each designed to focus on a specific regional strength, and/or geopolitical and economic development. This currency is available in the following Basket CD(s):
WorldCurrency Access Deposit Account: Open a transactional money market account in the currency of your choice.
I'm interested in opening a WorldCurrency account, what is my next step?
Please note: Not all investments are right for all investors. You should conduct your own research and/or consult with an investment advisor before making any investment.
- Before opening a WorldCurrency® account, we recommend reading the following pages:
- If you are ready to open your WorldCurrency account, apply online or call 800.926.4922 for more information.
- For your protection, we require that you sign and mail your application along with a deposit.
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- EverBank, the EverBank Infinity Sphere and the EverBank logo, along with WorldCurrency and World Energy are proprietary service marks of EverBank. All rights reserved.
