The pound is the name of the national currency and monetary unit in Britain. Sterling is mainly issued by the Bank of England, but there are also other issuers. What is the most commonly used symbol for the pound? . What is the currency code of ISO 42 17 adopted by the International Organization for Standardization? (British pound). In addition to Britain, the currencies of British overseas territories are also denominated in pounds, and the exchange rate with pounds is fixed at 1: 1.
As Britain is the earliest industrialized country in the world and once dominated the international financial industry, the pound was once the most widely used currency in international settlement business.
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Development history
The British pound is the standard unit of currency in Britain, issued by the Bank of England and established in 1694.
182 1 year Britain officially adopted the gold standard system, and the pound became the standard monetary unit in Britain, with 7.32238 grams of pure gold per 1 pound. 19 14 when the first world war broke out, Britain abolished the gold standard, gold coins stopped circulating, and Britain stopped exchanging gold.
1925 On May 3rd, Britain adopted the gold bar standard, but due to the world economic crisis, 193 1 was forced to give up on September 30th. The pound has evolved into a non-cash note. However, due to the need of foreign exchange control, the gold content of the pound is still stipulated in 1946+02+08 as 3.585438+034g.
1967165438+1October 18, the pound depreciated again, the exchange rate against the US dollar fell to 2.40 US dollars, and the gold content of the pound also fell to 2. 1328 1 gram.
After the floating exchange rate of 197 1 US dollar was implemented in August1May, the pound began to determine the exchange rate against the US dollar on the basis of unchanged gold content. In the same year, 65438+February 18, after the official depreciation of the US dollar, the new official exchange rate of the British pound against the US dollar appreciated to 1 British pound against US$ 2.6057.
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