GBP

British Pound Sterling

GBP is the official currency of the United Kingdom and its territories. It's one of the oldest currencies still in use and the fourth most traded currency globally.

The pound sterling is managed by the Bank of England. It's subdivided into 100 pence. The UK uses its own banking systems (BACS, CHAPS, Faster Payments) rather than the euro-based SEPA system. Some territories issue local pounds like the SHP pegged to GBP.

Related Terms

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United States Dollar

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EUR

Euro

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Sort Code

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BACS

Bankers' Automated Clearing Services

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