GBP – British Pound Sterling

Sign – £ / Code – GBP

Long before our corporate currency exchange brokers were helping our clients with their British Pound Sterling transfers, the Pound was creating its own rich history.

About the British Pound Sterling

The origins of the British Pound go back to 760 when they were utilised by the Anglo-Saxons. In 1158, the design was changed and the new coins were made from silver, becoming known as the Sterling Pound.

The first paper notes were introduced in 1694, while the coinage was also switched from silver to gold. In addition to this, the Bank of England was established in 1695, making it one of the first central banks in the world.

The British Pound Sterling is the fourth most traded currency in the FX market and is used primarily by the United Kingdom, in addition to Jersey, Guernsey and the Isle of Man.

Denominations

Subunit: Pence – 1/100

Coins: 1p, 2p, 5p, 10p, 20p, 50p, £1, £2

Banknotes: £5, £10, £20, £50

Bank: The Bank of England

The most popular exchanges for this currency includes British Pound Sterling to Euros and British Pound Sterling to US Dollars.