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The government of Gibraltar introduced a new series of banknotes beginning with the £10 and £50 notes issued on July 8, 2010. On May 11, 2011, the £5, £20 and £100 notes were issued. [ 11 ] In 2021, the government of Gibraltar introduced a new series of banknotes in a reduced size, closely matching that of the banknotes of the Bank of England.
In Gibraltar, banknotes are issued by the Government of Gibraltar. The pound was made sole legal tender in 1898 and Gibraltar has issued its own banknotes since 1934. [140] The notes bear an image of the British monarch on the obverse and the wording "pounds sterling", meaning that more retailers in the UK will accept them.
The currency of Gibraltar is the Gibraltar pound, issued by the Government of Gibraltar under the terms of the 1934 Currency Notes Act. These banknotes are legal tender in Gibraltar alongside Bank of England banknotes. [105] [106] In a currency board arrangement, these notes are issued against reserves of sterling.
A currency refers to money in any form when in actual use or circulation as a medium of exchange, especially circulating banknotes and coins. [1] [2] A more general definition is that a currency is a system of money (monetary units) in common use, especially in a nation. [3]
Slang terms for money often derive from the appearance and features of banknotes or coins, their values, historical associations or the units of currency concerned. Within a language community, some of the slang terms vary in social, ethnic, economic, and geographic strata but others have become the dominant way of referring to the currency and are regarded as mainstream, acceptable language ...
The English word "pound" derives from the Latin expression lībra pondō, in which lībra is a noun meaning 'pound' and pondō is an adverb meaning 'by weight'. [ 1 ] [ 2 ] The currency's symbol is ' £ ' , a stylised form of the blackletter 'L' ( L {\displaystyle {\mathfrak {L}}} ) (from libra ), crossed to indicate abbreviation.
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And hence the multi-definition “pound” and multi-definition “sterling” should yield to the unambiguous “pound sterling”. As the oldest living currency expect “sterling” to have accreted multiple modern definitions. And it’s doesn’t have the benefit of a fresh start that “renminbi” exactly enjoys in modern usage.