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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.
Sterling and the euro fluctuate in value against one another, although there may be correlation between movements in their respective exchange rates with other currencies such as the US dollar. Inflation concerns in the UK led the Bank of England to raise interest rates in late 2006 and 2007.
Prior to decimalisation in 1971, there were 12 pence (written as 12d) in a shilling (written as 1s or 1/-) and 20 shillings in a pound, written as £1 (occasionally "L" was used instead of the pound sign, £). There were therefore 240 pence in a pound. For example, 2 pounds 14 shillings and 5 pence could have been written as £2 14s 5d or £2/14/5
Cayman Islands dollar (1KY$=1.2US$) Cayman Islands Monetary Authority Pitcairn Islands; New Zealand dollar US dollar widely accepted [8] Pound sterling is also accepted. [9] Pitcairn Islands dollar (on par with New Zealand dollar; commemorative issue only) Reserve Bank of New Zealand Akrotiri and Dhekelia; Euro. European Central Bank
Data from 1971 to 1991–92 are based on official exchange rates. Data from 1992 to 1993 onward are based on FEDAI (Foreign Exchange Dealers' Association of India) indicative rates. Data from 1971 to 1972–73 for the Deutsche Mark and the Japanese Yen are cross rates with the US Dollar. The Euro replaced the Deutsche Mark w.e.f. January 1, 1999.
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.
The number of billionaires that, with assets combined, would own as much money as half the world population, and what transport they would fit on, from years 2010 to 2016 [17] According to a 2016 Oxfam report, the wealth of the poorest 95% dropped by 38% between 2010 and 2015, due to an increase in the global population by 400 million. [ 17 ]
Average for each year, in US dollars and euros per pound; and inversely: £ per US$ and €. (Synthetic Euro XEU before 1999). These averages conceal wide intra-year spreads. The coefficient of variation gives an indication of this. It also shows the extent to which the pound tracks the euro or the dollar.