In the year 1344 the first gold noble was struck but silver was still the currency people trusted. At the time silver was still the standard at which value was comparable. These coins were 92.5% pure silver and were entered into circulation by King Henry II as a way to ensure that coins had a longer life and better durability.įor almost the first 600 years of the pound existing it was always made of silver. In the year 1158 there was a silver penny constructed of sterling silver, hence the reason why it is called the British pound sterling. It has been through many changes and modifications in its long history and can be traced back to the year 760 when it was first introduced, in a very different form than we know today, by a man named King Offa of Mercia.įor the first 400 years the standard silver penny was made exclusively from fine silver. The British pound sterling is officially the oldest currency in the world that is still in use. History and Introduction of the British Pound Sterling Be prepared to pay a premium to have your British pounds exchanged at banking institutions in other countries. Since the introduction of the Euro though, the exchange rate for British pounds in foreign countries has slipped.
A lot of countries still have banks that will exchange British pounds for the local currency so tourists are able to make purchases. Global Exchange of British Pound SterlingĪlthough Euro seemed to overtake Europe, that doesn’t mean that British pound sterling is useless in other parts of the world. and two small island territories which are.There are now less than 10 countries and territories that use the British pound sterling on a daily basis. The United Kingdom has decided not to adopt the newer Euro as their official currency but would be allowed to if they came to consensus on the change. Countries using GBPĪfter the introduction of the Euro in 1992 with the Maastricht Treaty the use of the British pound sterling has been dropped from some areas. A lot of modern currencies are using the decimal system and it makes dealing with different types of foreign currencies less confusing and there is less room for calculation errors. This new decimal system makes conversions with other currencies a lot simpler to deal with and helped with international business transactions. Subdivision of GBP before 1971 were as follows: This all relates to the introduction of decimalization in 1971.
There are two distinct and different divisions throughout the history of the British pound sterling. The British pound sterling is one of the most recognizable currencies in the world and is also recognized as the sterling, the pound, the British pound and its symbol is £. The conversion rates from British Pound Sterling to other currencies were last updated 51 minutes ago.īritish Pound Sterling to Argentine Peso Converterīritish Pound Sterling to Australian Dollar Converterīritish Pound Sterling to Bitcoin Converterīritish Pound Sterling to Brazilian Real Converterīritish Pound Sterling to Canadian Dollar Converterīritish Pound Sterling to Chilean Peso Converterīritish Pound Sterling to Chinese Yuan Converterīritish Pound Sterling to Czech Republic Koruna Converterīritish Pound Sterling to Danish Krone Converterīritish Pound Sterling to Ethereum Converterīritish Pound Sterling to Hong Kong Dollar Converterīritish Pound Sterling to Hungarian Forint Converterīritish Pound Sterling to Icelandic Króna Converterīritish Pound Sterling to Indian Rupee Converterīritish Pound Sterling to Indonesian Rupiah Converterīritish Pound Sterling to Israeli New Sheqel Converterīritish Pound Sterling to Japanese Yen Converterīritish Pound Sterling to Malaysian Ringgit Converterīritish Pound Sterling to Mexican Peso Converterīritish Pound Sterling to New Zealand Dollar Converterīritish Pound Sterling to Norwegian Krone Converterīritish Pound Sterling to Pakistani Rupee Converterīritish Pound Sterling to Philippine Peso Converterīritish Pound Sterling to Polish Zloty Converterīritish Pound Sterling to Russian Ruble Converterīritish Pound Sterling to Singapore Dollar Converterīritish Pound Sterling to South African Rand Converterīritish Pound Sterling to South Korean Won Converterīritish Pound Sterling to Swedish Krona Converterīritish Pound Sterling to Swiss Franc Converterīritish Pound Sterling to Taiwan Dollar Converterīritish Pound Sterling to Thai Baht Converterīritish Pound Sterling to Turkish Lira Converterīritish Pound Sterling to US Dollar Converterīank of England, Bank of Scotland, Clydesdale Bank, Northern Bank, First Trust Bank, Ulster Bank, Bank of Ireland, States of Guernsey, States of Jersey, Isle of Man Government
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