Exchange rates vary several times a day. You need to get the current rate when you need it by googling foreign exchange and looking at one of the websites that gives exchange rates for any two currencies in the world.
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The value of the pound today July 24, 2014 against the dollar is $1.70. This refers to the British pound in comparison to the US dollar.
1 US dollar is worth 0.689 pounds. 1 pound is worth $1.4327
The pound is term for the British currency while the dollar is American. Banks all over the world compare their currencies value to that of the American dollar. Right now the pound is at 1.53280.
The value of one US dollar is equal to 0.60 Great Britain pound. Thus us the current conversion rate as of August 2014.
The value of UK money compared to US currency fluctuates based on exchange rates. Generally, the British pound is stronger than the US dollar, meaning that 1 British pound is worth more than 1 US dollar.