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Learn more and compare subscriptions content expands above. Full Terms and Conditions apply to all Subscriptions. Or, if you are already a subscriber Sign in. Other options. Close drawer menu Financial Times International Edition. Search the FT Search. This site uses cookies to deliver website functionality and analytics. If you would like to know more about the types of cookies we serve and how to change your cookie settings, please read our Cookie Notice.
By clicking the "I accept" button, you consent to the use of these cookies. After the historic United Kingdom vote to leave the European Union, the pound suffered one of its worst days ever - falling to a year low. The British currency is not new to turmoil, having had a bumpy ride over its 1, year existence. The pound functioned with its complicated system of shillings and pennies until the arrival of the decimal system in In coin minting was mechanized and features in its design such as the side lettering were introduced to help eradicate money-clipping.
The pound sterling has survived as an independent currency while most of the rest of Europe adopted the euro as single currency, which at the beginning of the 21st century seemed the likely destiny of the pound sterling too. Right now there are five different denominations for banknotes in circulation, for 5, 10, 20 and 50 pounds.
All pound notes include certain security measures. For more information about these, check the web page of the Bank of England. Regarding to coins , the ones currently circulating are of 1, 2, 5, 10, 20 and 50 pennies and 1 and 2 pounds. In order to provide you with a better browsing experience in the domain and sub-domains of Global Exchange Group companies, we use technical, analytical and personalisation cookies our own and third-party that help us improve your browsing experience, protect your privacy and tailor our websites to your preferences.
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The British Pound is the currency of United Kingdom. Below, you'll find British Pound rates and a currency converter. You can also subscribe to our currency newsletters with daily rates and analysis, read the Xe Currency Blog, or take GBP rates on the go with our Xe Currency Apps and website. 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.
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.
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