GBP

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DEFINITION of 'GBP'

The abbreviation for the British pound sterling, the official currency of the United Kingdom, the British Overseas Territories of South Georgia, the South Sandwich Islands and British Antarctic Territory and the UK's Crown Dependencies: the Isle of Man and the Channel Islands. The African country of Zimbabwe also uses the pound. The British pound is pegged to the Falkland Islands pound, Gibraltar pound, Saint Helenian pound, Jersey pound (JEP), Guernsey pound (GGP), Manx pounds, Scotland notes and Northern Ireland notes.

BREAKING DOWN 'GBP'

The British pound sterling is symbolized by the pound sign (£) and is nicknamed "quid." Because stocks are traded in pence (the British term for pennies), investors may see stock prices listed as pence sterling - GBX, or GBp.

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