British pound (pound sterling) – official currency unit Great Britain, which is in circulation in Northern Ireland, Wales, Scotland and England, as well as in the Falkland Islands, Gibraltar and Saint Helena.
One pound contains one hundred pence. But one coin is called a penny.
One of the world's most stable currencies is known in the international financial world as GBP, although UKL is also sometimes used. The British pound is assigned the ISO 4217 code. Banknotes in denominations of 5, 10, 20 and 50 pounds are used in circulation. The obverses of the banknotes are decorated with the image of Elizabeth II, the Queen of Great Britain. Portraits of composers, writers, scientists and other famous personalities are applied to the reverse.
Pound sterling to Russian ruble exchange rate
The British coin remains one of the most expensive in the world. Such an unshakable high position is ensured due to many factors, despite the instability of the global economy as a whole. As of today, the exchange rate of the pound sterling to the Russian ruble has stopped at 95.3 rubles per 1 Pound according to the information tabloids of the Central Bank of the Russian Federation.
Despite the slight weakening of the British currency due to rising prices in the real estate market Misty Albion, the demand for the pound does not fall. This trend is also stimulated by a reduction in the trade balance and an increase in employment in the industrial sector.
GBP exchange rate to major world currencies
The decreasing or increasing rating of the British currency can be traced from the ratio to the money of other countries. The stable high value of the pound is ensured by the efforts of UK banks and the Monetary Policy Committee aimed at maintaining the position national currency on the world market. And this work is independent of external economic and political factors.
The current exchange rate of GBP to the main currencies of the world allows you to verify this. So 1 pound sterling costs:
Euro, € (EUR) 1.239
US dollar, $ (USD) 1.413
Swiss franc, Fr (CHF) 1.348
Japanese yen, ? (JPY) 152.8
Factors influencing the pound sterling exchange rate
The position of the British currency is secured high level development of industrial production and GDP (Great Britain ranks 7th in the world).
Despite membership in the European Union, the British Isle has maintained a stable economy and the autonomy of the national currency. Therefore, the uncertain economic state of the eurozone countries has almost no impact. However, changes in quotes and prices for exchange-traded energy resources and goods may slightly fluctuate the exchange rate of the pound.
Against this background, effective monetary policy and the efforts of English banks are also included in the main factors influencing the exchange rate of the pound sterling.
Pound sterling exchange rate dynamics
Among the freely convertible currencies of the world, the pound firmly occupies a leading position and is included in the international payment system Continuous Linked Settlement. This system carries out currency conversion transactions in IMF member countries.
Industrialized countries have gold and foreign exchange reserves, of which British money accounts for more than 5%.
In addition, the dynamics of the pound sterling exchange rate is based on the relationship between market demand and supply based on the results of exchange international currency trading. Now the pound has a “floating exchange rate” index according to the agreement of the IMF countries.
Currency exchange in the UK
If necessary, currency exchange in the UK is possible in banks that are open from 9 am to 3.30 pm daily. The offices of large banks are also open on Saturdays. There are also many exchange offices at airports, train stations, and hotels, where currency transactions are carried out around the clock.
You can use some post offices and ATMs, which are widespread throughout the country. However, banks will offer the most favorable rate, plus a small commission - 0.5% -1%. All operations are carried out with a passport. Visa, MasterCard, American Express cards, as well as traveler's checks are used.
Origin of English currency
Sterling is the oldest European currency that is still in use today. The origin of the English currency is rich history. The first silver coin was introduced in 775. Money was minted from silver, and exactly 240 coins came out of 1 pound of the highest standard metal. Since then, 1 pound sterling has been the constant national currency of Foggy Albion.
Subsequently, there were coins of various denominations made of gold, silver, copper, tin and other metals: sovereign, guinea, shilling, penny. In 1971, the decimal system was adopted and all money was replaced by one coin - the penny, and 1 pound became equal to 100 pence.
Advice from Sravni.ru: The British pound is not as widespread in the CIS as the euro or dollar, but this does not stop the currency from being a reliable instrument for preserving capital and a stable way to invest in times of crisis. On the international Forex currency exchange, pairs involving the British pound are considered one of the most volatile, highly liquid and promising.
English Pound sterling Half crown coin ISO code 4217 GBP ... Wikipedia
GBP- British monetary unit equal to 100 pence. * * * POUND STERLING POUND STERLING (English pound sterling from Latin pondus heaviness, weight and English sterling silver coin), the monetary unit of Great Britain. Used from the second half of 12... ... encyclopedic Dictionary
GBP Modern encyclopedia
GBP- (English pound sterling), the monetary unit of Great Britain (England from the 10th century, Scotland from 1707, Ireland from 1825 to 1927), equal to 100 pence. In circulation are the silver pound sterling from the 10th to the 19th centuries, the gold pound sterling from the 14th century, banknotes in pounds... ... Illustrated Encyclopedic Dictionary
GBP- otherwise a sovereign, an English gold coin, is equal to 20 shillings, or almost 10 rubles. with our money. A complete dictionary of foreign words that have come into use in the Russian language. Popov M., 1907. POUND STERLING OR SOVEREIGN English. gold coin = 20… … Dictionary of foreign words of the Russian language
GBP- monetary unit of Great Britain: England from the 10th century, Scotland from 1707, Ireland from 1825 to 1927. A pound contains 100 pence. In the X XIX centuries. The pound circulated as a silver coin in the 14th century. in the form of a gold coin, since 1694 in the form of a banknote. See also:… … Financial Dictionary
GBP- a British currency unit consisting of 100 pence. Dictionary of business terms. Akademik.ru. 2001... Dictionary of business terms
GBP- British monetary unit equal to 100 pence... Big Encyclopedic Dictionary
GBP- (English sterling standard gold or silver) monetary unit of Great Britain (England from the 10th century, Scotland from 1707, Ireland from 1825 to 1927), circulated in the form of a silver coin from the 10th to the 19th centuries, gold from the 14th century; banknotes with... ... Economic dictionary
GBP- – UK monetary unit equal to 100 pence (since 1971). Until February 1, 1971, a monetary system existed in England more than a thousand years ago, under which F. s. was equal to 20 shillings and equaled 240 pence. When from the second half... ... Economics from A to Z: Thematic Guide
Books
- Eliza Callaghan, Close R.. The book by Australian writer Robert Close “Eliza Callaghan” is dedicated to the early period of the colonization of Australia by the British and is based on extensive historical materials. Events in the novel... Buy for 360 rubles
- Strategy for increasing the competitiveness of the modern nanoindustry in Russia, D. S. Borsuk. Over the past two centuries, three scientific and technological revolutions (STR) have taken place, which have changed ideas in many areas of science and technology, led to a redistribution of forces in the field...
GBP(sign: £; code: GBR) is the monetary unit of the United Kingdom of Great Britain and Northern Ireland. One pound sterling is equal to 100 pennies.
Circulation area of the Pound Sterling:
United Kingdom of Great Britain and Northern Ireland (comprising England, Scotland, Wales and Northern Ireland), Isle of Man as its national currency; as parallel currency the crown lands of Guernsey, Jersey and Saint Helena, Ascension and Tristan da Cunha; as legal tender in British overseas territories: Falkland Islands, Gibraltar.
Pound sterling rates:
- Pound sterling (GBR) to ruble (RUB) exchange rate online now on the Forex exchange
- Rates, exchange rates for cash pound sterling to ruble in banks for today
History of the Pound Sterling.
The pound sterling is one of the oldest, as well as one of the most expensive and stable currencies in the world.
One of the versions of the origin of the name of the currency - the name “pound sterling” appeared in the 12th century and originally meant literally “a pound of pure silver”, consisting of 240 silver coins, the total weight of which was 1 pound. It was also convenient to use this measure as a way to check the weight of coins - if the weight of 240 silver coins was not equal to 1 pound, then the coins could be counterfeit.
The first sterling coins were minted in Britain in 1066. Almost a century later, in 1158, King Henry II appointed sterling as the official English currency.
In 1694, the Bank of England began issuing paper pound notes.
In February 1971, the exchange part of the pound was brought to the decimal system. In connection with this, bronze coins were minted in 1/2, 1 and 2 pence. In April 2008, the production of new style coins began.
For some coin denominations, amounts are established within which they are legal tender and are accepted for payment:
Banks of the territories that are part of the Kingdom (Scotland, Ulster, Wales) issue pound sterling banknotes with their own artistic and compositional design. By law, these notes must be accepted by all banks in the UK.
The UK is part of the European Union, but despite this the country has not switched to the single European currency - the euro. One reason is that the royal family owns shares in the Bank of England.
Pennies, pence, shillings and pounds - how do they relate to each other?
- Pens is the plural of penny. Now 1 pound sterling = 100 pence. Before 1970-1971, 1 pound = 240 pence, 1 shilling = 12 pence.
- The one penny coin is called a penny. There are no shillings for a long time. There are 100 pence in one pound. There used to be 20 shillings in a pound and 12 pence in a shilling. But when it comes to money, the decimal system has been there for a long time.
- Just not until 1970, but until February 15, 1971. There were 20 shillings in a pound, 12 pence in each shilling, i.e. 1 pound was equal to 240 pence. Since 02/15/1971, shillings have been abolished, and 1 pound = 100 pence (for ease of counting).
- Penny (English penny, plural pence) is a British small change coin. Name of penny (in old English language pennige) has a common root with German words pfennig.
The old penny was designated d (from the Latin denarius denarius).
The modern penny (since decimalization in 1971) is denoted p.
The penny was first minted in the 8th century by King Gibert of Kent (764) and King Offa of Mercia (757-796), modeled on the silver Frankish denarius (denier) issued ten years earlier. On the obverse of the penny there was a chest-length portrait of the king, and on the reverse there was a cross with decorations.
The weight of a penny was 20-22.5 grains (1.3-1.5 g) of pure silver, the diameter of the coin was about 17 mm, in the 9th century it was about 21 mm.
Under King Edgar of England (957-975), the coinage of the common English penny began.
Pennies were minted in huge quantities (particularly due to the need to pay tribute to the Danes), and they were widely circulated all the way to Rus'. If necessary, the coin was simply cut into pieces, producing half and quarter pennies.
Until the conquest of England by the Normans and for the first time after it, the quality of pennies remained almost unchanged. However, over time, the quality of the coins began to deteriorate (due to damage to the coins and failure of coin masters to comply with the general standard).
A particularly strong deterioration in the quality of pennies occurred during the reign of Henry II and during the time of King Stephen. In 1180 it was necessary to introduce new type penny (the so-called short cross penny) with more weight and silver content.
For a long time, the penny remained the only coin in England. In the 13th century, new small change coins larger and smaller than a penny were introduced in England: grout (4 pence), halfpenny and farthing (1/4 penny).
By the 14th century, a coherent monetary system had been created in England:
1 pound sterling = 20 shillings (until the 16th century only a monetary unit of account) = 60 groats (120 half-groats) = 240 pence (= 480 halfpennies) = 960 farthings. - 100 pence = 1 pound
when they say penny, they mean 1 pence - Until 1971, the relationships between monetary units were as follows:
1 pound sterling = 20 shillings
1 half-crown = 2.5 shillings
1 florin = 2 shillings
1 shilling = 12 pence
1 grout = 4 pence
1 penny = 4 farthings
The modern currency of Great Britain is known as GBP, which is equal to 100 pence. Banknotes in use are represented by the following denominations: 1, 5, 10, 20, 50. Coins include 1 and 2 pounds, as well as 1, 2, 10, 20, 50 pence. The British call the coin “penny”, 2 pence – twopence (and contrary to all reading rules it is proudly called “tapens”), 3 pence – threepence.
At different times, 1 pound had completely different reverse. If on the obverse we were always greeted by Queen Elizabeth II, then, since 1983, on the reverse side we could see floral themes, animals, bridges, as well as images of the royal coats of arms and shields of Belfast, London, Cardiff and Edinburgh.
But what kind of money was in use before? In 1971, Great Britain switched to a decimal coinage system, and the “farting” and its derivatives third farting (third), quarter farting (quarter), half farting (half) were completely removed from circulation.
The initial issue of the silver farthing began under Henry III back in the 13th century, but the weight of such a coin was constantly changing. In the 17th century, under King James I, a copper farthing appeared, the diameter of which was 15 mm. The end of the 17th century was marked by the release of a token, which was equal in value to a farthing and a halfpenny. At the beginning of the 19th century, the “farting” began to be produced again, which was made from silver, gold and bronze.
Coins of England of the 16th century: shilling and floring
The first mention of the shilling dates back to the 16th century during the reign of Henry VIII. The “shilling” coin, more often called teston, was minted from copper, and the top layer was coated with silver.
Since the most prominent parts of the coin immediately appeared when it was used, and this was the king’s nose, the ruler was nicknamed “the old copper nose.” Later, the silver shilling continued to be issued during the reign. During the reigns of George VI and Queen Elizabeth II, the last shilling was issued; minting of such coins ceased in 1971.
However, before the advent of the shilling, there was a floring in circulation, which until the beginning of the 20th century was minted from 500-karat silver. It was subsequently replaced by two shillings.
The appearance of the penny coin
The history of the British penny goes back to the distant 8th century, but the common English penny began to be issued a little later, in the 10th century under King Edgard. Since then, the weight of the coin gradually decreased, and the amount of silver decreased, as a result of which already in the 16th-17th centuries the “penny” coin acquired a small shape and light weight. New life the money was given by Queen Victoria, who established the minting of bronze coins in the mid-19th century. The modern penny is one hundredth of a pound sterling and is made of copper-plated steel.
