English Pound

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English pound

The pound sterling (also: British pound, or pound for short) is the currency of the United Kingdom. The official ISO code is GBP and the currency symbol is £. In that symbol you can recognize the letter L, the first letter of the Latin word libra, which means pound. The pound is divided into 100 pence, singular penny.

The term euro pound is often used as an expression for the exchange rate from the euro to the pound sterling. Conversely, the term pound euro is used as a term for the exchange rate from the British pound to the euro. The pound and euro are the most important Western currencies after the US dollar. The exchange rate is used to convert from pounds to euros. The exchange rate of British pound euros is mainly dependent on trade in England. Euro pound exchange rates have declined in importance over the years, but the pound sterling is still one of the strongest currencies. The pound rate is watched by many as an indicator of the state of the world economy. The euro is also important for this. Although the pound is not linked to each other, the euro and pound usually follow a similar exchange rate.