Sterling is mainly issued by the Bank of England, but there are also other issuers. The most commonly used symbol for the pound is. The currency code of ISO 42 17 adopted by the International Organization for Standardization is the pound. In addition to Britain, the currencies of British overseas territories are also denominated in British pounds, and the exchange rate with British pounds is fixed at 1: 1.
Currency exchange: 1 =9.9998 RMB.
Sterling circulation area
The pound is the official currency of Britain. After the adoption of the euro, the pound became the oldest currency still in use. China ranks third in the world's foreign exchange reserves, second only to the US dollar and the euro. The pound is the fourth largest foreign exchange trading currency after the dollar, the euro and the yen. Although there is no fixed exchange rate between the pound and the euro, there is often a long-term synchronous trend between the pound and the euro, although this trend has weakened since mid-2006. Concerns about inflation led the Bank of England to adjust interest rates in the second half of 2006 and early 2007, and the price of the pound against the euro reached the highest level since June 2003, 65438+ 10. It is predicted that the interest rate will still rise in 2007. On April 18, 2007, the pound hit a 26-year high against the US dollar, breaking through the level of US$ 2 for the first time since June 1992.
Because of the national symbolic significance of the pound, the idea of replacing the pound with the euro has been controversial in some public sectors in Britain. The Scottish Conservative Party claims that the adoption of the euro means the end of local characteristic banknotes, because the European Central Bank does not allow member countries or lower-level governments to design banknotes. The Scottish Nationalist Party does not agree to adopt the European single currency, because it believes that an independent Scotland should have its own characteristic currency, and its party policy includes entering the single currency system.
The pound can be bought and sold with other currencies in foreign exchange markets all over the world, and its value fluctuates relative to other currencies. Historically, the pound has always been the most valuable basic foreign exchange variety.
New version of pound
It was released in 2008. 1p, 2p, 5p, 10p, 20p, 50p all have a part of the coat of arms of the British national emblem, which can be put together to form a complete pattern, except for 1 pound. The other side of each coin is the traditional head of the Queen of England.
A new version of 12-sided 1 pound coins will be issued from 20 17. The British Daily Mail website 20 1 710/0/0 reported on October 8th that the old yuan1will no longer be used as legal tender from June 5th.