About the Pound Sterling
The Pound Sterling is the world's oldest currency still in use. Its origins trace back to Anglo-Saxon England, where it was equivalent to one pound of silver.
The name 'Pound Sterling' comes from the fact that it was originally worth one troy pound of sterling silver.
Interesting Facts
Oldest Currency in Use
Pound Sterling is the oldest currency in continuous use, with its origins dating back over 1,200 years.
The 'Quid'
In slang, a pound is often referred to as a 'quid'. The origin of this term is uncertain but widely used.
A Global Reserve Currency
Sterling is one of the world's major reserve currencies, part of the IMF's Special Drawing Rights basket.
Historical Timeline
The silver penny is introduced, with 240 pennies making one pound of silver.
The Bank of England is established.
The gold standard is officially adopted.
Decimalisation occurs, with 100 new pence to the pound.
The Bank of England begins issuing polymer banknotes.
Denominations
Banknotes
Coins
Security Features
Quick Facts
- ISO Code
- GBP
- Symbol
- £
- Numeric Code
- 826
- Subunit
- Penny (1/100)
- Introduced
- 775-01-01
Central Bank
- Name
- Bank of England
- Headquarters
- London, England
- Founded
- 1694
- Current Governor
- Andrew Bailey (since 2020)
Economic Data
- Reserve Currency Share
- 4.9%
- Forex Volume Share
- 12.8%
- Inflation Rate
- 2.0%
- Interest Rate
- 5.25%
Exchange Rates
Used In
What Affects the GBP Exchange Rate?
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