pound

The pound, often called the British pound or pound sterling, is the official currency used in the United Kingdom. It’s represented by the symbol £ and is divided into 100 smaller units called pence. The pound is one of the oldest currencies still in use today, serving as the standard unit of money for everyday transactions, banking, and trade in the UK. Its value fluctuates based on economic conditions and currency markets. Essentially, it functions as the measure of monetary value within the UK, enabling people to buy goods, pay for services, and save money.