British currency

British currency

By:Normurodov Oybek.

The pound sterling known in some contexts simply as the pound or sterling is the official currency of the United Kingdom

symbol: £; 

ISO code: GBP

Number: 826

Users:

• United Kingdom,
•  Jersey,
•  Guernsey,
•  Isle of Man,
•  Gibraltar, 
• South Georgia
• the South Sandwich Islands,
• British Antarctic Territory,
•   Tristan da Cunha.

• Sterling is the fourth most-traded currency in the foreign exchange market, after the United States dollar, the euro, and the Japanese yen.[6] Together with those three currencies and the Chinese yuan, it forms the basket of currencies which calculate the value of IMF special drawing rights. As of mid-2021, sterling is also the fifth most-held reserve currency in global reserves.

Names

• The full official name pound sterling (plural: pounds sterling), is used mainly in formal contexts and also when it is necessary to distinguish the United Kingdom currency from other currencies with the same name. Otherwise the term pound is normally used.

There are various theories regarding the origin of the term "pound sterling".

• The Oxford English Dictionary states that the "most plausible" etymology is derivation from the Old English steorra for "star" with the added diminutive suffix "-ling", to mean "little star" and to refer to a silver penny of the English Normans.[

• Encyclopedia Britannica states the (pre-Norman) Anglo-Saxon kingdoms had silver coins called 'sterlings' and that the compound noun 'pound sterling' was derived from a pound (weight) of these sterlings.[15

Inflation

• 1.4% (12 months ending December 2019)

Nickname