British Pound

The British Pound, also known as the Pound Sterling, is the official currency of the United Kingdom. It functions as a medium of exchange, allowing people to buy and sell goods and services. The Pound is divided into 100 smaller units called pence. It is one of the oldest currencies still in use today, symbolized as £ and abbreviated as GBP. The value of the Pound fluctuates based on economic conditions, international markets, and political stability. It plays a crucial role in the UK's economy, facilitating both domestic transactions and international trade.