£ 10 | Bank Note | Ten Pound Sterling | Kae Kae | CurrencyStackerKK | Scotland | Northern Europe

£ 10 | Bank Note | Ten Pound Sterling | Kae Kae | CurrencyStackerKK | Scotland | Northern Europe

10 Scotland Pound Sterling

The Pound sterling (symbol: £; ISO code: GBP), known in some contexts simply as the pound or sterling, is the official currency of the United Kingdom, Jersey, Guernsey, the Isle of Man, Gibraltar, 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). The “pound sterling” is the oldest currency in continuous use. Some nations that do not use sterling also have currencies called the pound.

Sterling is the fourth most-traded currency in the foreign exchange market. As of mid-2021, sterling is also the fourth most-held reserve currency in global reserves.

The pound sterling is also used in the British Overseas Territories: Gibraltar (alongside the Gibraltar pound), the Falkland Islands (alongside the Falkland Islands pound), and in Saint Helena, Ascension and Tristan da Cunha (alongside the Saint Helena pound), others have transitioned to dollar currencies, such as Bermuda in 1970.

The Bank of England is the central bank for the pound sterling, issuing its own banknotes, and regulating the issuance of banknotes by private banks in Scotland and Northern Ireland. Sterling banknotes issued by other jurisdictions are not regulated by the Bank of England; their governments guarantee convertibility at par. The pound sterling was also used to varying degrees by colonies in the British Empire.

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