Pound sterling

  • pound sterling
    bank of england £50 obverse.jpg british 12 sided pound coin.png
    £50 banknote£1 coin (obverse)
    iso 4217
    codegbp
    number826
    exponent2
    denominations
    subunit
     ​1100
    (​1240 pre-decimal)
    penny
    pluralpounds
    pennypence (pennies pre-decimal)
    symbol£
    pennyp (d pre-decimal)
    nicknamequid (singular and plural)
    banknotes
     freq. used£5, £10, £20, £50
     rarely used£1, £100, £1,000,000,[1] £100,000,000 [1]
    coins
     freq. used1p, 2p, 5p, 10p, 20p, 50p, £1, £2
     rarely used3d/3p, 4d/4p, 6d,[2] 25p, £5, sovereign, £20, £100, £500 (silver kilo), £1,000 (gold kilo)[3]
    demographics
    official user(s) united kingdom

     guernsey (local issue: guernsey pound)

     isle of man (local issue: manx pound)

     jersey (local issue: jersey pound)
    unofficial user(s) pitcairn islands[a]
    issuance
    central bankwww.bankofengland.co.uk
    printer
     website
    mintwww.royalmint.com
    valuation
    "inflation and price indices". ons.gov.uk. office for national statistics. 15 january 2020.
     methodcpi
    pegged byfalkland islands pound (at par)
    gibraltar pound (at par)
    saint helena pound (at par)
    jersey pound (local issue)
    guernsey pound (local issue)
    manx pound (local issue)
    united kingdom
    royal coat of arms of the united kingdom (hm government).svg
    this article is part of a series on the
    politics and government of
    the united kingdom
    flag of the united kingdom.svg united kingdom portal
    • other countries
    • atlas

    pound sterling (symbol: £; iso code: gbp), commonly known as the pound and less commonly referred to as sterling,[6] is the official currency of the united kingdom, jersey, guernsey, the isle of man, gibraltar, south georgia and the south sandwich islands, the british antarctic territory,[7][8] and tristan da cunha.[9] it is subdivided into 100 pence (singular: penny, abbreviated: p). the pound sterling is the oldest currency in continuous use. a number of nations that do not use sterling also have currencies called the pound.

    sterling is the fourth most-traded currency in the foreign exchange market, after the united states dollar, the euro, and the japanese yen.[10] together with those three currencies and the chinese yuan, it forms the basket of currencies which calculate the value of imf special drawing rights. as of 30 september 2019, sterling is also the fifth most-held reserve currency in global reserves.[11]

    the british crown dependencies of guernsey, jersey and the isle of man produce their own local issues of sterling (the guernsey pound, the jersey pound and the manx pound) which are considered fully equivalent to uk sterling in their respective regions.[12] the pound sterling is also used in gibraltar (alongside the gibraltar pound), the falkland islands (alongside the falkland islands pound), saint helena and ascension island in saint helena, ascension and tristan da cunha (alongside the saint helena pound). the bank of england is the central bank for the pound sterling, issuing its own banknotes, and regulating issuance of banknotes by private banks in scotland and northern ireland. sterling banknotes issued by other jurisdictions are not regulated by the bank of england; their governments guarantee convertibility at par.

  • names
  • subdivisions and other units
  • history
  • coins
  • banknotes
  • monetary policy
  • legal tender and national issues
  • value
  • exchange rate
  • reserve
  • see also
  • footnotes
  • references
  • further reading
  • external links

Pound sterling
Bank of England £50 obverse.jpg British 12 sided pound coin.png
£50 banknote£1 coin (obverse)
ISO 4217
CodeGBP
Number826
Exponent2
Denominations
Subunit
 ​1100
(​1240 pre-decimal)
Penny
PluralPounds
PennyPence (pennies pre-decimal)
Symbol£
Pennyp (d pre-decimal)
NicknameQuid (singular and plural)
Banknotes
 Freq. used£5, £10, £20, £50
 Rarely used£1, £100, £1,000,000,[1] £100,000,000 [1]
Coins
 Freq. used1p, 2p, 5p, 10p, 20p, 50p, £1, £2
 Rarely used3d/3p, 4d/4p, 6d,[2] 25p, £5, Sovereign, £20, £100, £500 (Silver Kilo), £1,000 (Gold Kilo)[3]
Demographics
Official user(s) United Kingdom

 Guernsey (local issue: Guernsey pound)

 Isle of Man (local issue: Manx pound)

 Jersey (local issue: Jersey pound)
Unofficial user(s) Pitcairn Islands[a]
Issuance
Central bankwww.bankofengland.co.uk
Printer
 Website
Mintwww.royalmint.com
Valuation
"Inflation and price indices". ons.gov.uk. Office for National Statistics. 15 January 2020.
 MethodCPI
Pegged byFalkland Islands pound (at par)
Gibraltar pound (at par)
Saint Helena pound (at par)
Jersey pound (local issue)
Guernsey pound (local issue)
Manx pound (local issue)
Royal Coat of Arms of the United Kingdom (HM Government).svg
This article is part of a series on the
politics and government of
the United Kingdom
Flag of the United Kingdom.svg United Kingdom portal

Pound sterling (symbol: £; ISO code: GBP), commonly known as the pound and less commonly referred to as sterling,[6] is the official currency of the United Kingdom, Jersey, Guernsey, the Isle of Man, Gibraltar, South Georgia and the South Sandwich Islands, the British Antarctic Territory,[7][8] and Tristan da Cunha.[9] It is subdivided into 100 pence (singular: penny, abbreviated: p). The Pound sterling is the oldest currency in continuous use. A number of nations that do not use sterling also have currencies called the pound.

Sterling is the fourth most-traded currency in the foreign exchange market, after the United States dollar, the euro, and the Japanese yen.[10] Together with those three currencies and the Chinese yuan, it forms the basket of currencies which calculate the value of IMF special drawing rights. As of 30 September 2019, sterling is also the fifth most-held reserve currency in global reserves.[11]

The British Crown dependencies of Guernsey, Jersey and the Isle of Man produce their own local issues of sterling (the Guernsey pound, the Jersey pound and the Manx pound) which are considered fully equivalent to UK sterling in their respective regions.[12] The pound sterling is also used in Gibraltar (alongside the Gibraltar pound), the Falkland Islands (alongside the Falkland Islands pound), Saint Helena and Ascension Island in Saint Helena, Ascension and Tristan da Cunha (alongside the Saint Helena pound). The Bank of England is the central bank for the pound sterling, issuing its own banknotes, and regulating issuance of banknotes by private banks in Scotland and Northern Ireland. Sterling banknotes issued by other jurisdictions are not regulated by the Bank of England; their governments guarantee convertibility at par.