6 Ways to Maximize the Improved British Pound Exchange Rate
Update: Some offers mentioned below are no longer available. View the current offers here.
This week, more than 17 million Brits voted for the United Kingdom to leave the European Union. The immediate result was wild currency fluctuations, significantly affecting the pound sterling, and to a lesser extent the Euro. That essentially means that Europe is now on sale. If you're planning to travel to Europe soon, or you're there now, there are several things to keep in mind as you go about your transactions — most likely at a lower cost than you may have expected.
Just how much has the value of the pound changed? Yesterday, one dollar would have bought you 0.67 GBP. For a short time earlier today, one pound was worth just $1.32 — apparently the lowest it's been since 1985. As of this writing, you can expect to get 0.73 GBP per dollar. The USD has also climbed against the Euro, with one dollar now worth €0.90, compared to €0.88 yesterday.
Here are six ways you can make the most of this significant currency change.
1. Ask your hotel to process your stay as a new transaction
This won't work if you've already checked out, but if you're currently staying at a hotel and you've authorized your card with a deposit at check-in, ask the hotel to process your final bill as a new transaction, so you don't end up getting stuck with the less favorable exchange rate that may have been locked in on the date your card was authorized. While most clerks should know how to do this, you might want to pay with a different card than the one you provided at check-in, just to avoid any potential confusion.
2. Avoid returning products purchased before today
If you're traveling in Europe or you've order items from abroad, you'll likely score a big discount if you make a large purchase today. If you swiped your card before this morning, however, you'll want to avoid returning any goods. The reason? Your transaction has likely been processed at a less favorable rate — if you make a return now, your GBP or Euro refund amount will remain the same, but the converted amount will be significantly lower. So instead of making a return, consider exchanging items (or keeping them).
3. Consider withdrawing extra foreign currency
If you're in Europe currently, this could be a good time to stock up on Euros and pounds. While the exchange rate could change for the better (as far as the dollar is concerned), the Euro and pound could also recover a bit, depending on the UK's outlook. Additionally, while you can't be entirely certain what exchange rate you'll get when paying with a credit card, I've found that ATM withdrawals closely match the realtime rate. If you can, be sure to use a bank account that waives fees on international ATM withdrawals, as exchange and transaction fees can eat into any potential savings.
4. Don't rule out British Airways award flights
Fuel surcharges and sky-high UK taxes make BA economy redemptions unappealing, and that doesn't change much here, but the currency fluctuation does make taxes and fuel surcharges a bit more palatable. Also, note that you may be able to score a discount by booking on the British version of an airline's site — just be sure the domain ends in .co.uk or you're purchasing via a UK-based travel agency, as US sites may use outdated exchange rates. If you're in the market for an award (or even a revenue) flight, this could be a good time to act.
5. Track the exchange rate in realtime
While your credit card exchange rate may not be the most current, it's still important to be aware of currency changes during your trip. One dollar may buy 73 pence today, but the rate can change significantly in only an hour or two, as we saw following the exit vote. Use an app like XE Currency Converter to ensure that you're working off of the most recent rates. You can also check the rates that Mastercard and Visa use for credit card transactions — as you can see, they tend to lag a bit.
6. Avoid foreign transaction fees
Nothing changes here — while less money spent will mean lower fees, the FTF rate stays the same. The rewards you'll earn very rarely outweigh the cost of a foreign transaction fee, so be sure to avoid cards that charge fees, even if that means forgoing valuable category bonus points. Cards like the Chase Sapphire Preferred and Citi Prestige waive these fees and still you earn bonus points on certain spend, such as airfare and hotel stays.
Bottom Line
The exchange rate can have a very positive impact on your experience abroad. With significant fluctuations, expenses that were out of reach before can be more attainable following a major government action, such as what we're seeing here. If you've been on the fence about a trip to the UK, it certainly seems like this is a great time to go!
TPG featured card
at American Express's secure site
Terms & restrictions apply. See rates & fees.
| 3X | Earn 3X Miles on Delta purchases. |
| 1X | Earn 1X Miles on all other eligible purchases. |
Pros
- Delta SkyClub access when flying Delta
- Annual companion ticket for travel on Delta (upon renewal)
- Ability to earn MQDs through spending
- Various statement credits for eligible purchases
Cons
- Steep annual fee of $650
- Other Delta cobranded cards offer superior earning categories
- Earn 100,000 Bonus Miles after you spend $6,000 or more in purchases with your new Card within the first 6 months of Card Membership and an additional 25,000 bonus miles after you make an additional $3,000 in purchases on the Card within your first 6 months, starting from the date that your account is opened. Offer Ends 04/01/2026.
- Delta SkyMiles® Reserve American Express Card Members receive 15 Visits per Medallion® Year to the Delta Sky Club® when flying Delta and can unlock an unlimited number of Visits after spending $75,000 in purchases on your Card in a calendar year. Plus, you’ll receive four One-Time Guest Passes each Medallion Year so you can share the experience with family and friends when traveling Delta together.
- Enjoy complimentary access to The Centurion® Lounge in the U.S. and select international locations (as set forth on the Centurion Lounge Website), Sidecar by The Centurion® Lounge in the U.S. (see the Centurion Lounge Website for more information on Sidecar by The Centurion® Lounge availability), and Escape Lounges when flying on a Delta flight booked with the Delta SkyMiles® Reserve American Express Card. § To access Sidecar by The Centurion® Lounge, Card Members must arrive within 90 minutes of their departing flight (including layovers). To access The Centurion® Lounge, Card Members must arrive within 3 hours of their departing flight. Effective July 8, 2026, during a layover, Card Members must arrive within 5 hours of the connecting flight.
- Receive $2,500 Medallion® Qualification Dollars with MQD Headstart each Medallion Qualification Year and earn $1 MQD for each $10 in purchases on your Delta SkyMiles® Reserve American Express Card with MQD Boost to get closer to Status next Medallion Year.
- Enjoy a Companion Certificate on a Delta First, Delta Comfort, or Delta Main round-trip flight to select destinations each year after renewal of your Card. The Companion Certificate requires payment of government-imposed taxes and fees of between $22 and $250 (for itineraries with up to four flight segments). Baggage charges and other restrictions apply. Delta Basic experiences are not eligible for this benefit.
- $240 Resy Credit: When you use your Delta SkyMiles® Reserve American Express Card for eligible purchases with U.S. Resy restaurants, you can earn up to $20 each month in statement credits. Enrollment required.
- $120 Rideshare Credit: Earn up to $10 back in statement credits each month after you use your Delta SkyMiles® Reserve American Express Card to pay for U.S. rideshare purchases with select providers. Enrollment required.
- Delta SkyMiles® Reserve American Express Card Members get 15% off when using miles to book Award Travel on Delta flights through delta.com and the Fly Delta app. Discount not applicable to partner-operated flights or to taxes and fees.
- With your Delta SkyMiles® Reserve American Express Card, receive upgrade priority over others with the same Medallion tier, product and fare experience purchased, and Million Miler milestone when you fly with Delta.
- Earn 3X Miles on Delta purchases and earn 1X Miles on all other eligible purchases.
- No Foreign Transaction Fees. Enjoy international travel without additional fees on purchases made abroad.
- $650 Annual Fee.
- Apply with confidence. Know if you're approved for a Card with no impact to your credit score. If you're approved and you choose to accept this Card, your credit score may be impacted.
- Terms Apply.
- See Rates & Fees