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Pound Sterling

The pound sterling, which strictly speaking refers to basic currency unit of sterling, now the pound, can generally refer to the currency of the United Kingdom (UK). The standard ISO 4217 currency code is GBP (UKP is non-standard and sometimes wrongly used).

The sign for the pound is £ (or rarely just "L"). Both symbols derive from libra, the Latin word for "pound".

In the UK, in order to distinguish the unit of currency from the unit of mass, and from other units of currency that have the same name, a pound is often referred to as a pound sterling or sometimes simply sterling.

The slang term quid is also substituted in informal conversation for "pound(s) sterling". The sterling was originally a name for a silver penny of 1/240 pound. In modern times the pound has replaced the penny as the basic unit of currency as inflation has steadily eroded the value of the currency. Originally a silver penny had the purchasing power of slightly less than a modern pound.

This article is licensed under the GNU Free Documentation License. It uses material from the  Wikipedia article "Pound Sterling". You can explore more on the Wikipedia website. The text and the images are used here only for educational purposes.

 

Questions about the text

1. The pound is the currency of UK.
True.
False.
We don't know.

2. The symbol for the pound derives from the Latin word "libra".
True.
False.
We don't know.

3. To distinguish the unit of currency from the unit of mass, sometimes the pound is also called pound sterling.
True.
False.
We don't know.

4. Quid is a slang term for pound.
True.
False.
We don't know.

5. Sterling was originally the name for a pound.
True.
False.
We don't know.

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That's curious!
Sandwich The word sandwich comes from the English diplomat John Montagu, 4th Earl of Sandwich. He was such a compulsive gambler that he would order this kind of food while he was playing so as not to waste too much time.

Descubre el origen de las palabras en The Story behind the Words

 

Vocabulary
Aprende más de 30 formas distintas de nombrar al dinero en inglés en Money.