British Pound (GBP)

The British Pound is the official currency of United Kingdom (UK). It is subdivided into pennies. The most popular Exchange Rate of the Pound is GBP to USD. The ISO currency code of the British Pound is "GBP" and its symbol is "£".

The British Pound Currency Profile

The English pound sterling is more commonly known these days as the British pound with other common names such as Pound Sterling, Sterling, Quid, Cable, and Nicker. Although the UK is currently still a part of the European Union, the UK decided not to adopt the Euro and elected to maintain its own currency, the British pound. The pound is currently the third most largely traded currency in the Foreign Exchange Market, falling only behind the United States dollar and the euro. This market which determines foreign exchange rates.

One individual British pound can also be divided into 100 pence, noting that pence is plural for penny. For example, one penny is less than two pence. Currently the countries that use the pound are the United Kingdom, the Isle of Man, Guernsey, South Sandwich Islands, Jersey, South Georgia, Tristan da Cunha, and the British Antarctic Territory. The symbol for the Great British Pound (GBP) is (£). Notes come in denominations of £5, £10, £20 and £50. Coins come in 1p, 2p, 5p, 10p, 20p, 50p, £1 and £2. Each denomination of notes is printed in specific colors and all currencies, both notes and coins, bears an image of the Queen’s head on one side.