British Pound

The British Pound is the official currency of the United Kingdom and its Crown dependencies and British Overseas Territories. It is also used by some other countries as a reserve or a foreign currency. It is the oldest currency in the world that is still used as legal tender, and the fourth most traded currency in the global market

The British Pound has a long and rich history, dating back to the Anglo-Saxon era. The name “pound” derives from the Latin word “pondus”, meaning weight, and the symbol “£” comes from the letter “L” for “libra”, the Roman unit of weight. The pound was originally divided into 20 shillings, each of 12 pence, making 240 pence in a pound. This system was used until 1971, when the pound was decimalised and divided into 100 new pence

The British Pound is also known by various nicknames, such as the Pound Sterling, Sterling, Quid, Cable, and Nicker. The term “Pound Sterling” refers to the original value of one pound in silver, and is still used as the formal name of the currency. The term “Quid” is a slang word for one pound, and is believed to come from the Latin phrase “quid pro quo”, meaning “something for something”. The term “Cable” is used by forex traders to refer to the exchange rate between the pound and the US dollar, and originates from the transatlantic telegraph cable that was used to transmit the rate in the 19th century. The term “Nicker” is another slang word for one pound, and is of uncertain origin

The British Pound is issued by the Bank of England, which is the central bank of the United Kingdom. The Bank of England is responsible for setting the monetary policy and maintaining the price stability in the UK. The Bank of England also issues the pound banknotes and oversees the pound coins. The pound banknotes have a common design on one side, featuring the portrait of Queen Elizabeth II, and a different design on the other side, featuring various historical figures and symbols. The pound coins have a common design on one side, featuring the royal coat of arms, and a different design on the other side, featuring various landmarks and emblems of the UK. The pound banknotes and coins are legal tender in all parts of the UK, regardless of their origin

The British Pound is a symbol of the UK’s sovereignty and heritage, and a major player in the international financial system. It reflects the values and achievements of the British people, and fosters a sense of pride and identity among them. The British Pound is more than just a currency, it is a part of the UK’s culture and history.

Below is the related paper currencies in British Pound.

2017     GBP10    

 

2018     GBP20    

 

2020     GBP50    

 

2016     GBP5