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Sterling (ISO code: GBP) is the currency of the United Kingdom and nine of its associated territories. [3] The pound ( sign: £ ) is the main unit of sterling, [ 4 ] [ c ] and the word pound is also used to refer to the British currency generally, [ 7 ] often qualified in international contexts as the British pound or the pound sterling .
The pound sign (£) is the symbol for the pound unit of sterling – the currency of the United Kingdom and its associated Crown Dependencies and British Overseas Territories and previously of Great Britain and of the Kingdom of England. The same symbol is used for other currencies called pound, such as the Egyptian and Syrian pounds.
Countries where a unit of the national currency is "pound" (dark blue) or "lira" (light blue). Pound is the name of various units of currency.It is used in some countries today and previously was used in many others.
Penny sterling, and the pegged pennies of Alderney, the Falklands, Gibraltar, Guernsey, Jersey, Isle of Man and Saint Helena: Fraction The centesimal subdivision of a pound sterling, known as the "New Penny" when introduced in 1971 piastre: Lebanese and Syrian piastres A centesimal subdivision of the Lebanese and Syrian pounds ₱ peso ...
The pound sterling (symbol: £; ISO 4217 currency code: GBP) is the official currency of the United Kingdom, Jersey, Guernsey, the Isle of Man, British Antarctic Territory, South Georgia and the South Sandwich Islands, and Tristan da Cunha. The Bank of England has a legal monopoly of banknote issuance in England and Wales.
The British pound sterling and Irish pound were among the last to be decimalised, on 15 February 1971. In places where £sd was used, there were several approaches to decimalisation: The pound remained the base unit (in Malta, using the Maltese name "lira"), but was subdivided into new fractional units of 1 ⁄ 100 of a pound.
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The UK government devalued the pound sterling in November 1967 from £1 = $2.80 to £1 = $2.40. This was not welcomed in many parts of the sterling area, and, unlike in the 1949 devaluation, many sterling area countries did not devalue their currencies at the same time. This was the beginning of the end for the sterling area.