- published: 13 Apr 2012
- views: 98802
The pound sterling (symbol: £; ISO code: GBP), commonly called the pound, is the official currency of the United Kingdom, its Crown Dependencies (the Isle of Man and the Channel Islands) and the British Overseas Territories of South Georgia and the South Sandwich Islands,British Antarctic Territory and Tristan da Cunha. It is subdivided into 100 pence (singular: penny). A number of nations that do not use sterling also have currencies called the "pound".
The Channel Islands (the Bailiwick of Guernsey and the Bailiwick of Jersey) and the Isle of Man produce their own local issues of sterling; see Guernsey pound, Jersey pound and Manx pound. The pound sterling is also used in Gibraltar (alongside the Gibraltar pound), the Falkland Islands (alongside the Falkland Islands pound) and Saint Helena and Ascension (alongside the Saint Helena pound). Gibraltar, Falkland Islands and Saint Helena pounds are separate currencies, pegged at parity to the pound sterling. Within the UK, some banks operating in Scotland and Northern Ireland produce private sterling denominated banknotes.