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.


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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  1. In the forex market, how is the closing price of a currency pair determined?

    The foreign exchange market, or forex, is the market in which the currencies of the world are traded by governments, banks, ... Read Full Answer >>
  2. What are the most common currency pairs traded in the forex market?

    There are many official currencies that are used all over the world, but there only a handful of currencies that are traded ... Read Full Answer >>
  3. How does the foreign-exchange market trade 24 hours a day?

    The forex market is the largest financial market in the world, trading around $1.5 trillion each day. Trading in the forex ... Read Full Answer >>
  4. Why doesn't England use the euro?

    England, as part of the United Kingdom, is the most notable member of the European Union that has elected not to use the ... Read Full Answer >>
  5. What is the cost of living difference between the U.S and the U.K?

    According to Numbeo, the largest collection of cost of living data for destinations around the world, consumer prices were ... Read Full Answer >>
  6. Why is the British pound / U.S. dollar currency pair known as "trading the cable"?

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