Pound

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GBP - British Pound The British Pound is the currency of United Kingdom. Our currency rankings show that the most popular British Pound exchange rate is the GBP to USD rate. The currency code for Pounds is GBP, and the currency symbol is £. Below, you'll find British Pound rates and a currency converter. Select a currency The United Kingdom's central bank is the Bank of England. As the fourth most traded currency, the British Pound is the third most held reserve currency in the world. Common names for the British Pound include the Pound Sterling, Sterling, Quid, Cable, and Nicker. Importance of the British Pound The British Pound is the oldest currency still in use today, as well as one of the most commonly converted currencies. The Early Currency in Britain With its origins dating back to the year 760, the Pound Sterling was first introduced as the silver penny, which spread across the Anglo-Saxon kingdoms. In 1158, the design was changed and rather than pure silver the new coins were struck from 92.5% silver and became to be known as the Sterling Pound. Silver pennies were the sole coinage used in England until the shilling was introduced in 1487 and the pound, two years later, in 1489. British Pound Notes and the Gold Standard The first paper notes were introduced in 1694, with their legal basis being switched from silver to gold. The Bank of England, one of the first central banks in the world, was established a year later, in 1695. All Sterling notes were handwritten ...

Pound Definition: A pound (symbol: lb) is a unit of mass used in the imperial and US customary systems of measurement. The international avoirdupois pound (the common pound used today) is defined as exactly 0.45359237 kilograms. The avoirdupois pound is equivalent to 16 avoirdupois ounces. History/origin: The pound descended from the Roman libra, and numerous different definitions of the pound were used throughout history prior to the international avoirdupois pound that is widely used today. The avoirdupois system is a system that was commonly used in the 13 th century. It was updated to its current form in 1959. It is a system that was based on a physical standardized pound that used a prototype weight. This prototype weight could be divided into 16 ounces, a number that had three even divisors (8, 4, 2). This convenience could be the reason that the system was more popular than other systems of the time that used 10, 12, or 15 subdivisions. Current use: The pound as a unit of weight is widely used in the United States, often for measuring body weight. Many versions of the pound existed in the past in the United Kingdom (UK), and although the UK largely uses the International System of Units, pounds are still used within certain contexts, such as labelling of packaged foods (by law the metric values must also be displayed). The UK also often uses both pounds and stones when describing body weight, where a stone is comprised of 14 pounds. Kilogram Definition: A kilogram (...