GBP Full Form in Currency | Full Form of GBP

GBP Full Form - Great Britain Pound

 Great Britain Pound

Great Britain Pound

  • GBP is that the abbreviation for Great British pound, the official currency of the uk , British Overseas Territories of South Georgia, the South Hawaiian Islands , and British Antarctic Territory and therefore the U.K. crown dependencies the Isle of Man and therefore the Channel Islands .
  • It's the currency of the good Britain.
  • Its official name is sterling pound but commonly it's referred to as the pound.
  • Its name derived from a Latin word 'Libra' which indicates weight and balance.
  • GBP is that the basic unit of British currency which is split into 100 pence. The singular of pence is penny.
  • The British pound has its origins in continental Europe
  • Sterling pound is that the oldest currency of world which remains in use immensely.
  • It's the fourth most traded currency within the world. Coins and notes of GBP are produced by Bank of England.
  • Its official symbol is £ and its ISO code is GBP.
  • The British currency isn't new turmoil, having had a bumpy ride over its 1,200 year existence.

Brief History

  • The first pound appeared in 1489, within the reign of Henry VII. It had been called a sovereign because it was marked with a picture of the king seated upon his throne.
  • The pound was a unit of currency as early as 775AD in Anglo-Saxon England, like 1 pound weight of silver
  • The pound banknotes, which were hand-written within the beginning, issued after the establishment of Bank of England in 1694.
  • In 1797, the primary pound note was issued as there was a requirement for smaller denomination banknotes to exchange the gold coins during French Revolutionary Wars.
  • The pound continued with its complex system of shillings and pence until the decimal numeration system arrived in 1971.

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