Currency Information on British Pound - GBP — Pound Sterling - £
Divided in pence and pounds – 100 pence – or pennies- to one pound, Pound sterling is the official currency of The UK, Guernsey, Jersey, the British Antarctic Territory, Tristan da Cunha, the Isle of Man, the South Sandwich Isles and South Georgia. Pound Sperling is the only currency to have remained in continuous use since its introduction.
During decimalisation in 1971 the pound was declared as having 100 pence to the pound, before then, there was the equivalent of 240 pence to the pound - 12 pence to 1 shilling and 20 shillings to the pound.
Coins in circulation in pound Sterling are available in denominations of 1p, 2p, 5p, 10p, 20p, 50p, £1 and £2. Whilst 3p, 4p, 25p, £5, £20, £100 and £500 coins are not seen and never used.
Sterling banknotes are denominated into £5, £10, £20 and £50 notes, and, whilst £100 notes are available, they are rarely seen or used, and £1 notes are no longer available.
Over a year ago we expanded our IT company and opened a new office in the UK. We have two offices in Europe now; we need to send money abroad very often, from Portugal to the UK and from the UK to Portugal. Knowing how to send money internationally in a safe way is therefore a crucial need for us on a weekly basis.
Comment written by Tiago Goncalves Director of an it Company.
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