GBP - USD

Money Trading

GBP is the abbreviation for the British pound sterling, the official currency of the United Kingdom, the British Overseas Territories of South Georgia, the South Sandwich Islands and British Antarctic Territory and the U.K. crown dependencies: the Isle of Man and the Channel Islands. The African country of Zimbabwe also uses the pound. The British pound is pegged to the Falkland Islands pound, Gibraltar pound, Saint Helenian pound, Jersey pound (JEP), Guernsey pound (GGP), Manx pounds, Scotland notes and Northern Ireland notes.

In addition to the United Kingdom, the British pound has previously served as currency in many of the colonies of the British Empire including Australia, New Zealand and Canada. Prior to 1855, when it began printing British pound notes, the Bank of England wrote all notes by hand. Although the UK was a member of the European Union, they never replaced the British pound with the Euro. The UK is currently in the process of dissolving its membership in the EU after the "Brexit" vote that occurred on June 23, 2016.