British pound sterling

Pound sterling
Punt sterling  (Welsh) Punt Sasanach  (Irish) Punt Sostynagh  (Manx) Louis stèrling  (Norman) Poond sterlin  (Scots) Punnd Sasannach  (Scottish Gaelic) Peuns sterling  (Cornish)
All frequently used coins. The coins shown are those after the extensive 2008 redesign.
ISO 4217
Code	GBP
Number	826
Exponent	2
Denominations
Subunit
1⁄100	Penny
Plural	pounds
Penny	pence
Symbol	£
Penny	p
Nickname	quid
Banknotes
Freq. used	£5, £10, £20, £50
Rarely used	£1, £100 (Neither is legal tender in England/Wales)
Coins
Freq. used	1p, 2p, 5p, 10p, 20p, 50p, £1, £2
Rarely used	3p, 4p, 25p, £5, £20, £100, £500 (Silver Kilo), £1,000 (Gold Kilo)
Demographics
Official user(s)	United Kingdom 9 British territories  British Antarctic Territory  Falkland Islands (alongside Falkland Islands pound)  Gibraltar (alongside Gibraltar pound)  Saint Helena, Ascension and Tristan da Cunha (Tristan da Cunha; alongside Saint Helena pound in Saint Helena and Ascension)  South Georgia and the South Sandwich Islands (alongside Falkland Islands pound)  British Indian Ocean Territory (de jure, U.S. dollar used de facto)  Guernsey (local issue: Guernsey pound)  Isle of Man (local issue: Manx pound)  Jersey (local issue: Jersey pound)
Unofficial user(s)	Zimbabwe
Issuance
Central bank	Bank of England
Website	www.bankofengland.co.uk
Printer	printers English (inc. Wales) notes: Bank of England Scottish notes: Bank of Scotland Royal Bank of Scotland Clydesdale Bank Northern Irish notes: Northern Bank First Trust Bank Ulster Bank Bank of Ireland Crown dependency notes: States of Guernsey States of Jersey Isle of Man Government
Website	websites Bank of England Bank of Scotland Royal Bank of Scotland Clydesdale Bank Northern Bank First Trust Bank Ulster Bank Bank of Ireland Isle of Man Government States of Jersey
Mint	Royal Mint
Website	www.royalmint.com
Valuation
Inflation	1.8%, January 2017
Source	[5]
Method	CPI
Pegged by	Falkland Islands pound (at par) Gibraltar pound (at par) Saint Helena pound (at par) Jersey pound (local issue) Guernsey pound (local issue) Manx pound (local issue)
ERM
Since	8 October 1990
Withdrawn	16 September 1992 (Black Wednesday)

 United Kingdom

 Guernsey (local issue: Guernsey pound)

 Isle of Man (local issue: Manx pound)

The pound sterling (symbol: £; ISO code: GBP [Great Britain Pound]), commonly known as the pound, is the official currency of the United Kingdom, Jersey, Guernsey, the Isle of Man, South Georgia and the South Sandwich Islands, the British Antarctic Territory, and Tristan da Cunha. It is subdivided into 100 pence (singular: penny, abbreviated: p). A number of nations that do not use sterling also have currencies called the pound. At various times, the pound sterling was commodity money or bank notes backed by silver or gold, but it is currently fiat money, backed only by the economy in the areas where it is accepted. The pound sterling is the world's oldest currency still in use and which has been in continuous use since its inception.