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All frequently used coins except the £2 coin (coins shown are those after the extensive 2008 redesign)
ISO 4217 Code GBP
Official user(s)  United Kingdom
Unofficial user(s)  Zimbabwe[1]
Inflation 3.5% (UK CPI January 2010)
3.7% (UK RPI December 2009)
−1.2% (Guernsey RPI September 2009)
−0.6% (Jersey RPI September 2009)
3.3% (Isle of Man CPI December 2009)
Source National Statistics, States of Guernsey, States of Jersey and Isle of Man Government'
Since 8 October 1990
Withdrawn 16 September 1992 (Black Wednesday)
Pegged by Falkland Islands pound (at par)
Gibraltar pound (at par)
Saint Helena pound (at par)
Jersey pound (local issue)
Guernsey pound (local issue)
Manx pound (local issue)
Scotland notes (local issue)
Northern Ireland notes (local issue)
1/100 penny
Symbol £
penny p
Nickname quid, knicker, spud
penny pence
Rarely used 25p, £5
Rarely used £1 (Scot. only), £100 (Scot. & N. Ireland only)
Central bank Bank of England
Mint Royal Mint

The pound sterling (symbol: £; ISO code: GBP), commonly simply called the pound, is the currency of the United Kingdom, its Crown dependencies (the Isle of Man and the Channel Islands) and the British Overseas Territories of South Georgia and the South Sandwich Islands,[2] British Antarctic Territory[3] and Tristan da Cunha.[4] It is subdivided into 100 pence (singular: penny).

The Channel Islands and the Isle of Man produce their own local issues of sterling; see Manx pound, Jersey pound, and Guernsey pound. The pound sterling is also used in Gibraltar (alongside the Gibraltar pound), the Falkland Islands (alongside the Falkland Islands pound) and Saint Helena[5] and Ascension[6] (alongside the Saint Helena pound). The Gibraltar, Falkland Islands and Saint Helena pounds are separate currencies, pegged at parity to the pound sterling.

Sterling is the third-largest reserve currency, after the US dollar and the euro.[7] The pound sterling is also the fourth-most-traded currency in the foreign exchange market after the US dollar, the euro, and the Japanese yen.[8]



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. The currency name is sometimes abbreviated to just sterling, particularly in the wholesale financial markets, but not when referring to specific amounts; for example, "Payment is accepted in sterling" but never "These cost five sterling".[9][10] The abbreviations "ster." or "stg." are sometimes used. The term British pound is commonly used in less formal contexts, although it is not an official name of the currency. A common slang term is quid (singular and plural) which is thought to derive from the Latin phrase "quid pro quo".[citation needed]

There is some uncertainty as to the origin of the term "pound sterling". Some sources say it dates back to Anglo-Saxon times, when coins called sterlings were minted from silver; 240 of these sterlings weighed one pound, and large payments came to be made in "pounds of sterlings".[11] Other references, including the Oxford English Dictionary, say a sterling was a silver penny used in England by the Normans, and date the term to around 1300. For more discussion of the etymology of "sterling" see Sterling silver.

The currency sign is the pound sign, originally with two cross-bars, now more commonly £ with a single cross-bar – this is the style used on sterling bank notes. The pound sign derives from the black-letter "L", an abbreviation of Librae in Roman £sd units (librae, solidi, denarii) used for pounds, shillings and pence in the British pre-decimal duodecimal currency system. Libra was the basic Roman unit of weight, derived from the Latin word for scales or balance.

The ISO 4217 currency code is GBP. Occasionally, the abbreviation UKP is used but this is incorrect because the ISO 3166 country code for (the United Kingdom of) Great Britain and Northern Ireland is GB (see Terminology of the British Isles#Terminology in detail). The Crown dependencies use their own (non-ISO) codes: GGP (Guernsey pound), JEP (Jersey pound) and IMP (Isle of Man pound). Stocks are often traded in pence, so traders may refer to pence sterling, GBX (sometimes GBp), when listing stock prices.

Subdivisions and other units



Since decimalisation in 1971, the pound has been divided into 100 pence (until 1981 described on the coinage as "new pence"). The symbol for the penny is "p"; hence an amount such as 50p (£0.50) properly pronounced "fifty pence" is more colloquially, quite often, pronounced "fifty pee". This also helped to distinguish between new and old pence amounts during the changeover to the decimal system.


The Mad Hatter's hat shows an example of the old pre-decimal system: the hat costs 10 shillings and 6 pence.

Prior to decimalisation, the pound was divided into 20 shillings and each shilling into 12 pence, making 240 pence to the pound. The symbol for the shilling was "s" — not from the first letter of the word, but from the Latin solidus. The symbol for the penny was "d", from the French denier, from the Latin denarius (the solidus and denarius were Roman coins). A mixed sum of shillings and pence such as 3 shillings and 6 pence was written as "3/6" or "3s 6d" and spoken as "three and six". 5 shillings was written as "5s" or, more commonly, "5/-". The stroke, /, indicating shillings, was originally an adaptation of the long s.


By the 1950s coins of George III, George IV and William IV had disappeared from circulation, but coins (at least the penny) bearing the heads of any British king or queen from Queen Victoria onwards could be found in circulation. Silver coins were replaced by those in cupro-nickel in 1947 and by the 1960s the silver coins were rarely seen. Silver /cupro-nickel shillings (from any period after 1816) and florins (2 shillings) remained as legal tender after decimilisation (as 5p and 10p respectively) and the sixpences of 1816 and after remained legal tender under 1980 (as two and a half new pence).


The pound sterling is the world's oldest currency still in use.[12]




The early pennies were struck from fine silver (as pure as was available). However, in 1158, a new coinage was introduced by King Henry II (known as the Tealby penny) which was struck from .925 (92.5%) silver. This became the standard until the 20th century and is today known as sterling silver, named after its association with the currency. Sterling silver is harder than the fine silver (i.e. 0.999/99.9% pure, etc) that was traditionally used and so sterling silver coins did not wear down as rapidly as fine silver coins. The English currency was almost exclusively silver until 1344, when the gold noble was successfully introduced into circulation. However, silver remained the legal basis for sterling until 1816. In the reign of Henry IV (1412–1421), the penny was reduced in weight to 15 grains (0.97 g) of silver, with a further reduction to 12 grains (0.78 g) in 1464.



Unofficial gold standard


Establishment of modern currency

The Bank of England was formed in 1694, followed by the Bank of Scotland a year later. Both began to issue paper money.

Currency of the United Kingdom

The pound scots had begun equal to sterling but had suffered far higher devaluation until being pegged to sterling at a value of 12 pounds scots = 1 pound sterling. In 1707, the Kingdom of England and the Kingdom of Scotland merged to form the United Kingdom of Great Britain. In accordance with the Treaty of Union, the currency of the 'united kingdom' was sterling with the pound scots being replaced by sterling at the pegged value.

Gold standard

During the Revolutionary and Napoleonic wars, Bank of England notes were legal tender and their value floated relative to gold. The Bank also issued silver tokens to alleviate the shortage of silver coins. In 1816, the gold standard was adopted officially, with the silver standard reduced to 66 shillings (66/-, 2.3 pounds), rendering silver coins a "token" issue (i.e., not containing their value in precious metal). In 1817, the sovereign was introduced. Struck in 22-carat gold, it contained 113 grains (7.3 g) of gold and replaced the guinea as the standard British gold coin without changing the gold standard. In 1825, the Irish pound, which had been pegged to sterling since 1801 at a rate of 13 Irish pounds = 12 pounds sterling, was replaced, at the same rate, with sterling.

During the late 19th and early 20th centuries, many other countries adopted the gold standard. As a consequence, conversion rates between different currencies could be determined simply from the respective gold standards. The pound sterling was equal to 4.85 U.S. dollars, 4.89 Canadian dollars, 25.22 French francs (or equivalent currencies in the Latin Monetary Union), 20.43 German Marks or 24.02 Austro-Hungarian Krones. Discussions took place following the 1865 International Monetary Conference in Paris concerning the possibility of the UK joining the Latin Monetary Union and a Royal Commission on International Coinage examined the issues,[13] resulting in a decision against joining monetary union.

The gold standard was suspended at the outbreak of the war in 1914, with Bank of England and Treasury notes becoming legal tender. Prior to World War I, the United Kingdom had one of the world's strongest economies, holding 40% of the world's overseas investments. However, by the end of the war the country owed £850 million (£30.7 billion as of 2010).[14], mostly to the United States, with interest costing the country some 40% of all government spending. In an attempt to resume stability, a variation on the gold standard was reintroduced in 1925, under which the currency was fixed to gold at its pre-war peg, although people were only able to exchange their currency for gold bullion, rather than for coins. This was abandoned on 21 September 1931, during the Great Depression, and sterling suffered an initial devaluation of some 25%.[15]

Use in the Empire

Sterling circulated in much of the British Empire. In some parts, it was used alongside local currencies. For example, the gold sovereign was legal tender in Canada despite the use of the Canadian dollar. Several colonies and dominions adopted the pound as their own currency. These included Australia, Barbados,[16] British West Africa, Cyprus, Fiji, Irish Free State, Jamaica, New Zealand, South Africa and Southern Rhodesia. Some of these retained parity with sterling throughout their existence (e.g. the South African pound), whilst others deviated from parity after the end of the gold standard (e.g. the Australian pound). These currencies and others tied to sterling constituted the Sterling Area.

Bretton Woods

See also:Economic history of Britain 1945–1959




On 15 February 1971, the UK decimalised, replacing the shilling and penny with a single subdivision, the new penny. The word "new" was omitted from coins after 1981.

Free-floating pound

With the breakdown of the Bretton Woods system — the pound floated from August 1971 onwards. It at first appreciated a little, rising to almost $2.65 in March 1972, from 2.42 when it had been fixed. The Sterling Area effectively ended at this time when the majority of its members also chose to float freely against the pound and the dollar.

The 1976 sterling crisis

James Callaghan came to power in 1976. He was immediately told the economy was facing huge problems, according to documents released in 2006 by the National Archives.[17] Financial markets were losing confidence in sterling. The UK treasury could not balance its books, while Labour's strategy emphasised high public spending. Callaghan was told there were three possible outcomes: a disastrous free fall in Sterling, an internationally unacceptable siege economy or a deal with key allies to prop up the pound while painful economic reforms were put in place.[18]


The Conservatives arrived in power in 1979, on a programme of fiscal austerity. The pound rocketed, moving above the $2.40 level, as interest rates rose in response to the monetarist policy of targeting money supply. The high exchange rate was widely blamed for the deep recession of 1981. Sterling fell sharply after 1980 At its lowest, the pound stood at just $1.03 in March 1985, before returning to the US$1.70 level in December 1989.

Following the Deutsche Mark


Following the European Currency Unit

On 8 October 1990 the Conservative government decided to join the European Exchange Rate Mechanism (ERM), with the pound set at DM2.95. However, the country was forced to withdraw from the system on “Black Wednesday” (16 September 1992) as Britain’s economic performance made the exchange rate unsustainable. Speculator George Soros famously made approximately US$1 billion from shorting the pound.

'Black Wednesday' saw interest rates jump from 10% to 15% in an unsuccessful attempt to stop the pound from falling below the ERM limits. The exchange rate fell to DM2.20. Proponents of a lower GBP/DM exchange rate were vindicated as the cheaper pound encouraged exports and contributed to the economic prosperity of the 1990s.[citation needed]

Following inflation targets



As a member of the European Union, the United Kingdom could adopt the euro as its currency. However, the subject remains politically controversial. Gordon Brown, when Chancellor of the Exchequer, ruled out membership for the foreseeable future, saying that the decision not to join had been right for Britain and for Europe.[21]

The government of former Prime Minister Tony Blair had pledged to hold a public referendum to decide on membership should "five economic tests" be met, to ensure that adoption of the euro would be in the national interest. In addition to these internal (national) criteria, the UK would have to meet the EU's economic convergence criteria (Maastricht criteria), before being allowed to adopt the euro. Currently, the UK's annual government deficit, as a percentage of the GDP, is above the defined threshold. In February 2005, 55% of British citizens were against adopting the currency, with 30% in favour.[22] The idea of replacing the pound with the euro has been controversial with the British public, partly because of the pound's identity as a symbol of British sovereignty[23] and because it would, according to critics, lead to suboptimal interest rates, harming the British economy. In December 2008 the results of a BBC poll of 1000 people suggested that 71% would vote no, 23% would vote yes to joining the European single currency, while 6% said they were unsure.[24] The pound did not join the Second European Exchange Rate Mechanism (ERM II) after the euro was created. Denmark and the UK have opt-outs from entry to the euro. Technically, every other EU nation must eventually sign up.

The Scottish Conservative Party claims that there is an issue for Scotland in that the adoption of the euro would mean the end of regionally distinctive banknotes, as the euro banknotes do not have national designs.[25] The Scottish National Party claims an independent Scotland would have nationally distinctive coins, and its party policy includes entry into the single currency.

On 1 January 2008 the British sovereign bases on Cyprus (Akrotiri and Dhekelia) began using the euro (along with the rest of the Republic of Cyprus).[26]

Current exchange value

The pound and euro fluctuate in value against one another, although there may be correlation between movements in their respective exchange rates with other currencies such as the US dollar. Inflation concerns in the UK led the Bank of England to raise interest rates in late 2006 and 2007. This caused the pound to appreciate against other major currencies, and with the US dollar depreciating at the same time, the pound hit a 15-year high against the US dollar on 18 April 2007, having reached US$2 for the first time since 1992 the day before.[27] The pound and many other currencies continued to appreciate against the dollar, and sterling hit a 26-year high of $2.1161 on 7 November 2007 as the dollar fell worldwide. From mid-2003 to mid 2007, the pound/euro rate remained rangebound (within ± 5%) of €1.45.[28] However, following the global financial crisis in late 2008, the pound has since depreciated at one of the fastest rates in history, reaching a 24-year low of $1.35 per £1 on 23 January 2009[29] and falling below €1.25 against the euro in April 2008.[30] A further decline was seen during the remainder of 2008; most dramatically in December when its euro rate hit an all-time low at €1.0219 (29th).[31] The pound appreciated in early 2009 reaching a peak in mid-July of €1.17. The following months saw a steady decline, with the pound's current (Feb '10) value at €1.14 and USD$1.56.

On 5 March 2009, the Bank of England announced that they would pump £75 billion of new capital into the British economy, through a process known as quantitative easing. This is the first time in the United Kingdom's history that this measure has been used, although the Bank's Governor Mervyn King suggested it was not an experiment.[32]

The process sees the Bank of England creating new money for itself, which it then uses to purchase assets such as government bonds, bank loans, or mortgages.[33] Despite the misconception that quantitative easing involves printing money, the Bank of England is unlikely to do this and instead money is created electronically and thus does not actually enter the cash circulation system.[34] The initial amount stated to be created through this method was £75 billion, although Chancellor of the Exchequer Alistair Darling had given permission for up to £150 billion to be created if necessary.[35] It is thought the process is likely to occur over a period of three months with results only likely in the long term.[32] By 5 November 2009, some £175 billion had been injected using quantitative easing and the effectiveness of the process remains questionable.

The Bank of England has stated that the decision has been taken to prevent the rate of inflation falling below the two percent target rate.[33] Mervyn King, the Governor of the Bank of England, also suggested there were no other monetary options left as interest rates have already been cut to their lowest level ever of 0.5% and it was unlikely they would be cut further.[35]



The silver penny (plural:pence; abbr.: 'd') was the principal and often sole coin in circulation from the 8th century until 13th century. Although some fractions of the penny were struck (see farthing and halfpenny), it was more common to find pennies cut into halves and quarters to provide smaller change. Very few gold coins were struck, with the gold penny (worth 20 silver pence) a rare example. However, in 1279, the groat, worth 4d was introduced, with the half groat following in 1344. 1344 also saw the establishment of a gold coinage with the introduction (after the failed gold florin) of the noble worth six shillings and eight pennce ('6/8') (ie 3 to the pound), together with the half and quarter noble. Reforms in 1464 saw a reduction in value of the coinage in both silver and gold, with the noble renamed the ryal and worth 10/- (ie 2 to the pound) and the angel introduced at the noble's old value of 6/8.

The reign of Henry VII saw the introduction of two important coins, the shilling (abbr,: 's') (known as the testoon) in 1487 and the pound (known as the sovereign, abbr.: '£' or 'L') in 1489. In 1526, several new denominations of gold coins were added, including the crown and half crown worth five shillings ('5/-'), and two shillings and six pence ('2/6', 'two and six') respectively. Henry VIII's reign (1509–1547) saw a high level of debasement which continued into the reign of Edward VI (1547–1553). However, this debasement was halted in 1552 and a new silver coinage was introduced, including coins for 1d, 2d, 3d, 4d and 6d, 1/-, 2/6 and 5/-. The reign of Elizabeth I (1558–1603) saw the addition of silver ¾d and 1½d coins, although these denominations did not last. Gold coins included the half crown, crown, angel, half sovereign and sovereign. Elizabeth's reign also saw the introduction of the horse-drawn screw press to produce the first "milled" coins.


Following the restoration of the monarchy in 1660, the coinage was reformed, with the ending of production of hammered coins in 1662. The guinea was introduced in 1663, soon followed by the ½, 2 and 5 guinea coins. The silver coinage consisted of denominations of 1d, 2d, 3d, 4d and 6d, 1/-, 2/6 and 5/-. Due to the widespread export of silver in the 18th century, the production of silver coins gradually came to a halt, with the half crown and crown not issued after the 1750s, the 6d pence and 1/- stopping production in the 1780s. One response was the introduction of the copper 1d and 2d coins and the gold ⅓ guinea (7/-) in 1797. The copper penny was the only one of these coins to survive long.


In 1816, a new silver coinage was introduced in denominations of 6d, 1/-, 2/6 and 5/-. The crown was only issued intermittently until 1900. It was followed by a new gold coinage in 1817 consisting of 10/- and £1 coins, known as the half sovereign and sovereign. The silver 4d coin was reintroduced in 1836, followed by the 3d ("thruppence") in 1838, with the 4d coin issued only for colonial use after 1855. In 1848, the 2/- florin was introduced, followed by the short-lived double florin in 1887. In 1860, copper was replaced by bronze in the farthing (quarter penny, 14d), halfpenny and penny.

During the First World War, production of the half sovereign and sovereign was suspended and, although the gold standard was restored, the coins saw little circulation again. In 1920, the silver standard, maintained at .925 since 1552, was reduced to .500. In 1937, a nickel-brass 3d coin was introduced, with the last silver 3d coins issued seven years later. In 1947, the remaining silver coins were replaced with cupro-nickel. Inflation caused the farthing to cease production in 1956 and be demonetised in 1960. In the run-up to decimalisation, the halfpenny and half-crown were demonetised in 1969.


£1 coin (Welsh design, 2000)
Queen Elizabeth II Welsh dragon

British coinage timeline:

  • 1971: The decimal coinage was completed when decimalisation came into effect in 1971 with the introduction of the bronze ½p, 1p and 2p coins and the withdrawal of the 1d and 3d coins.
  • 1980: Withdrawal of 6d coins, which had circulated at a value of 2½p.
  • 1983: A £1 coin was introduced.
  • 1983: The ½p coin was last produced.
  • 1984: The ½p coin was demonetised
  • 1992: Bronze was replaced with copper-plated steel
  • 1993: The 2/- coins were similarly demonetised.
  • 2007: By now the value of copper in the pre-1992 1p/2p coins (which are 97% copper) exceeded the value to such an extent that melting down the coins by entrepreneurs was becoming worthwhile (with a premium of up to 11%, with smelting costs reducing this to around 4%) – although this is illegal, and the market value of copper has subsequently fallen dramatically from these earlier peaks.

At present, the oldest circulating coins in the U.K. are the 1p and 2p copper coins introduced in 1971. Before decimalisation, change could contain coins aged one hundred years or more, with any of five monarchs' heads on the obverse.

In April 2008 an extensive redesign of the coinage was unveiled. The new designs were issued gradually into circulation, starting in summer 2008. The new reverses of the 1p, 2p, 5p, 10p, 20p and 50p coins feature parts of the Royal Shield, and the new pound coin depicts the whole shield. The coins are of the same specifications as those with the old designs (which will continue to circulate).


£10 Series E Bank of England note.


A £20 note of the 2007 issue from the Bank Of Scotland






The £5 polymer banknote, issued by Northern Bank in 2000, is the only polymer note currently in circulation, although Northern Bank also produces paper-based £10, £20 and £50 notes.

Legal tender and regional issues

Legal tender in the UK means (according to the Royal Mint) "that a debtor cannot successfully be sued for non-payment if he pays into court in legal tender." It does not mean that any ordinary transaction has to take place in legal tender or only within the amount denominated by the legislation. Both parties are free to agree to accept any form of payment whether legal tender or otherwise according to their wishes. In order to comply with the very strict rules governing an actual legal tender it is necessary, for example, actually to offer the exact amount due because no change can be demanded.

Throughout the U.K., £1 and £2 coins are legal tender for any amount, with the other coins being legal tender only for limited amounts. In England and Wales, Bank of England notes are also legal tender for any amount. In Scotland and Northern Ireland, no banknotes are currently legal tender, although Bank of England 10/- and £1 notes were legal tender, as were Scottish banknotes, during World War II (Currency (Defence) Act 1939; this status was withdrawn on 1 January 1946). However, the banks made deposits with the Bank of England to cover the bulk of their note issues. In the Channel Islands and Isle of Man, the local variations on the banknotes are legal tender in their respective jurisdictions.

Scottish, Northern Irish, Channel Islands and Manx notes are sometimes rejected by shops when used in England and Wales. (Conversely, English bank notes are very rarely rejected in other British countries.) British shopkeepers can choose to reject any payment, even if it would be legal tender in that jurisdiction, because no debt exists when the offer of payment is made at the same time as the offer of goods or services. When settling a restaurant bill after consuming the meal, or settling another debt, the laws of legal tender do apply, but usually any reasonable method of settling the debt (such as by credit card) will be accepted.


Coin Maximum usable as legal tender[36]
£5 (post-1990 crown) unlimited
£2 unlimited
£1 unlimited
50p £10
25p (pre-1990 crown) £10
20p £10
10p £5
5p £5
2p 20p
1p 20p

Further, any coin or bank note ceases to be legal tender if it is 100x the amount of the debt (for example, offering a £20 note to settle a 20p debt).


In 2006 the House of Commons Library published a document[37] which included an index of the value of the pound for each year between 1750 and 2005, where the value in 1974 was indexed at 100. (This was an update of earlier documents published in 1998 and 2003.)




Exchange rate

The pound is freely bought and sold on the foreign exchange markets around the world, and its value relative to other currencies therefore fluctuates. It has been among the highest-valued currency units in the world. As of 22 November 2009, £1 was worth US$1.648 or 1.109.


Sterling is used as a reserve currency around the world and as at ranked third in value held as reserves.

Current GBP exchange rates
From Google Finance: AUD CAD CHF EUR HKD JPY USD
From Yahoo! Finance: AUD CAD CHF EUR HKD JPY USD

See also


  1. ^ Alongside Zimbabwean dollar (suspended indefinitely from 12 April 2009), Euro, US dollar, South African rand and Botswana pula. The US Dollar has been adopted as the official currency for all government transactions.
  2. ^ Foreign and Commonwealth Office country profiles: South Georgia and the South Sandwich Islands
  3. ^ Foreign and Commonwealth Office country profiles: British Antarctic Territory
  4. ^ Foreign and Commonwealth Office country profiles: Tristan da Cunha
  5. ^ Fast Facts on St Helena, St Helena Tourism
  6. ^, Ascension Island Currency
  7. ^ Chavez-Dreyfuss, Gertrude (2008-04-01). "Global reserves, dollar share up at end of 2007-IMF". Reuters. Retrieved 2009-12-21. 
  8. ^ Triennial Central Bank Survey (April 2007), Bank for International Settlements.
  9. ^ This, as in the phrase "cinque sterline", would be the case in Italy, a country whose previous currency, the lira, derived from the Roman libra and was denoted by the same symbol.
  10. ^ In Ireland it is quite common to use terms such as this
  11. ^ Pound sterling, Encyclopaedia Britannica
  12. ^ 'Economic terms explained' BBC News
  13. ^
  15. ^ The Board of Trade Journal, 7 January 1932
  16. ^ The Central Bank of Barbados: Students' Centre – Money: Bits and Pieces
  17. ^ BBC
  18. ^ "Good-bye Great Britain": 1976 IMF Crisis, K Burk, ISBN 0300057288
  19. ^ Sometimes it can pay to break the rules Victor Keegan (Economics Editor) The Observer
  20. ^ BBC NEWS | Business | Rate hike fear as inflation jumps
  21. ^ Puritanism comes too naturally for 'Huck' Brown – Times Online
  22. ^ "EMU Entry And EU Constitution". MORI. 2005-02-28. 
  23. ^ Should Britain join the euro? – Telegraph
  24. ^ Most Britons 'still oppose euro'
  25. ^ BBC News | SCOTLAND | Protesters pursue Hague
  26. ^ Euro reaches field that is for ever England – The Times
  27. ^ BBC NEWS | Business | Pound reaches 26-year dollar high
  28. ^ FXGraph: Graphical Display of Currency Rates OANDA.COM
  29. ^
  30. ^ ECB ratings: Pound sterling in euros
  31. ^ BBC NEWS | Business | Pound hits new low against euro
  32. ^ a b "Bank to pump £75bn into economy". BBC News. 2009-03-05. Retrieved 2009-03-05. 
  33. ^ a b "ECB, Bank of England cut rates to record lows". CNN. 2009-03-05. Retrieved 2009-03-05. 
  34. ^ "Q & A: What is 'quantitative easing?'". CNN. 2009-03-05. Retrieved 2009-03-05. 
  35. ^ a b "Bank ‘prints’ £75bn and cuts interest rates in half". The Times. 2009-03-05. Retrieved 2009-03-05. 
  36. ^ ""British Royal Mint – Frequently Asked Questions"". Retrieved 2009-02-24. 
  37. ^
  38. ^ 2003 article on price inflation and see this


  • "Bank of England Banknotes FAQ". Retrieved 2006-05-07. 
  • The Financial System in Nineteenth-Century Britain (The Victorian Archives Series, By Mary Poovey Published by Oxford University Press (2002) ISBN 0-19-515057-0
  • Krause, Chester L. and Clifford Mishler (1991). Standard Catalog of World Coins: 1801–1991 (18th ed. ed.). Krause Publications. ISBN 0873411501. 

External links


Up to date as of January 15, 2010

Definition from Wiktionary, a free dictionary





  1. Pound sterling, the currency used in Great Britain.

Usage notes

This is the currency code used in the ISO 4217 standard. It is rarely used in everyday English, but issues with character encoding mean that it is often encountered on the Internet.

See also


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