Gbp

Gbp, typically represented by the ISO code GBP, is the currency code for the pound sterling, the official currency of the United Kingdom and several British territories. It is issued by the Bank of England for banknotes and by the Royal Mint for coins. The currency is subdivided into 100 pence, with the symbol £ commonly used in prices and financial notation. The symbol £ traces its origin to the stylized letter L for libra, the Latin word for pound.

The pound has a long historical lineage dating back to medieval England, rooted in the unit of weight known as a pound of sterling silver. For many centuries the system used pounds, shillings, and pence. Decimalization occurred on Decimal Day, February 15, 1971, reorganizing the currency so that 1 pound equals 100 pence.

Banknotes are issued by the Bank of England for England and Wales, while Scotland and Northern Ireland host note issuance by local banks such as Bank of Scotland and Royal Bank of Scotland, resulting in a variety of designs. Coins are minted by the Royal Mint and are in active circulation across the United Kingdom, including denominations such as 1p, 2p, 5p, 10p, 20p, 50p, 1 pound, and 2 pounds.

Gbp is one of the world's major currencies and among the most traded in international foreign exchange markets. It serves as a global reserve currency and is widely used in international trade and finance. Monetary policy is set by the Bank of England, which aims to meet inflation targets and maintain financial stability, with the currency’s value influenced by economic conditions and market dynamics.