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In 1885, Egypt went into a purely gold standard, and the Egyptian pound unit, known as the juneih, was introduced at E£1 = 7.4375 grammes of fine gold. This unit was chosen on the basis of the gold content in the British gold sovereign and maintaining the exchange value of 97.5 piastres to the pound sterling, and it replaced the Egyptian ...
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.
However, in 1956 the Sudan became independent, and on 8 April 1957, the Egyptian pound was replaced at par with the Sudanese pound. During the 1960s, the Sudanese pound diverged in value from the Egyptian pound, and from 30 December 1969 through until 21 September 1971, the Sudanese pound was pegged at 1:1 parity with the pound sterling.
Sterling (ISO code: GBP) is the currency of the United Kingdom and nine of its associated territories. [3] The pound 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. [4]
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.
Colour key and notes Indicates that a given currency is pegged to another currency (details) Italics indicates a state or territory with a low level of international recognition State or territory Currency Symbol [D] or Abbrev. ISO code Fractional unit Number to basic Abkhazia Abkhazian apsar [E] аҧ (none) (none) (none) Russian ruble ₽ RUB Kopeck 100 Afghanistan Afghan afghani ؋ AFN ...
The British pound sterling, in particular, was poised to dislodge the Spanish dollar's hegemony as the rest of the world transitioned to the gold standard in the last quarter of the 19th century. At that point, the UK was the primary exporter of manufactured goods and services, and over 60% of world trade was invoiced in pounds sterling.
In 1918, after the fall of the Ottoman Empire, the Egyptian pound was used. Upon gaining control of Syria and Lebanon, the French replaced the Egyptian pound with a new currency for Syria and Lebanon, the Syrian pound, which was linked to the franc at a value of LS 1 = 20 F. Lebanon issued its own coins from 1924 and banknotes from 1950.