British Pound Sterling (GBP)

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  • FOREX VIDEO - London Session Review - August 26, 2010
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About About the British Pound Sterling

The British “pound” (plural: pounds) is the official currency used in the United Kingdom and in Tristan da Cunha, and alongside local currencies in the British territories of the Falkland Islands, Gibraltar, Guernsey, Isle of Man, Jersey, Saint Helena and Ascension, and South Georgia and the South Sandwich Islands. Its official currency code is “GBP” and it is symbolized by an “£”. The primary denominations include 1, 2, 5, 10, 20, 50 pence coins; 1 and 2 pound coins (1 pound = 100 pence); and 5, 10, 20, and 50 pound paper bank notes. In the United Kingdom, decimal numbers are denoted using a point (e.g. 1.50). The pound has a floated exchange rate and the aforementioned British territories peg the value of their local currencies to it.

Central Bank: Bank of England

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