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About the British Pound (GBP)

The British Pound Sterling (GBP) is the official currency of the United Kingdom, including England, Scotland, Wales, and Northern Ireland. It is one of the oldest currencies still in use, with a history dating back over 1,200 years.

The pound is symbolised by £ and internationally abbreviated as GBP (Great British Pound). It is managed by the Bank of England, which is responsible for setting monetary policy and issuing banknotes.

Where the British Pound is Used

In addition to the UK, GBP is also used in several British Overseas Territories, including:

• Gibraltar (uses Gibraltar Pound, pegged to GBP)
• Falkland Islands (uses Falkland Islands Pound, pegged to GBP)
• Saint Helena, Ascension and Tristan da Cunha (Saint Helena Pound, pegged to GBP)

All are equivalent in value to the British pound, though banknotes may differ in design.

GBP Denominations – Notes and Coins

Banknotes in Circulation (issued by the Bank of England):

• £5, £10, £20, £50

Coins in Circulation:

• 1p, 2p, 5p, 10p, 20p, 50p, £1, £2

Note: Scotland and Northern Ireland also issue their own banknotes, which are legal currency in the UK, although less commonly accepted outside their regions.

Why the Pound Matters

• One of the most widely traded currencies in the world
• Key in foreign exchange markets and international transfers
• Often used in GBP to EUR or GBP to USD currency pair trades

Popular GBP-Related Searches:

• Send money to the UK from abroad
• Convert EUR to GBP
• Best GBP exchange rates
• Transfer money to the United Kingdom
• How to send pounds from Europe
• GBP explained for international transfers

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