The pound is the currency of the United Kingdom. The UK is made up of four constituent countries, namely England, Scotland, Wales and Northern Ireland.
The UK is one of the world’s leading industrialized nations. In terms of Gross Domestic Product is in fifth place worldwide after the United States, Japan, Germany and China.
According to official data from the Bank for International Settlements (BIS) in its three-year report of 2007 shows that the level of participation of sterling in the forex market is 14.95%, taking into account a total 200% because currency transactions involving simultaneous purchases and sales.
In this way, after the U.S. dollar, euro and Japanese yen, the pound sterling is the fourth most traded currency in the forex market.
It is important to note that London, capital of the British Empire, is par excellence the world financial center. In London the capital’s major banks are located worldwide, and its stock market by far exceeds the trading volume in New York and Tokyo.
The ISO 4217 code for the pound is the GBP. ISO 4217 came to encode all currencies worldwide, and really simplified transactions worldwide.
Several States referred to their respective currencies such as pounds, so we find that in Egypt there is the Egyptian pound, pound exists in Sudan Sudan, and Syria’s legal currency is the Syrian pound. Thus the ISO 4217 came to remove uncertainty in business transactions.
The currency symbol for the pound sterling is £ and comes from the Latin which means pound, and referred to the unit of measurement.
The British pound as opposed to other currencies is divided in pennies rather than cents.
After the adoption of the euro by several European states, the British pound became one of the oldest currency still in use, meaning and power and stability.
We can find tickets £ 5, 10, 20, 50 lbs.
This article is supplied by PLANETAFOREX.COM