British Pound - the most important information
The British pound, also known as the pound sterling, is one of the most important and the oldest currencies in the world. The pound is the official currency in the UK and you can pay with it in dependent territories, i.e. the British Antarctic Territory, Falkland Islands, Gibraltar, Guernesey, Isle of Man, Jersey, St. Helena, South Georgia and the South Sandwich Islands. Before traveling to these places it is worth checking the pound rate. The GBP / PLN exchange rate is also important for many Poles living and working in the UK. They and their relatives who stayed in their homeland are closely following the changes taking place in the GBP / PLN currency pair. The pound sterling is divided into 100p, and the following coin denominations are available in circulation: 1, 2, 5, 10 and 50p, and 1 and 2 pounds. Banknotes worth 5, 10, 20 and 50 pounds are also used. In Scotland and Northern Ireland, 1-pound and 100-pound banknotes are additionally used. The obverse of the pounds shows the image of the reigning Queen Elizabeth II, while the reverse presents figures that have contributed to the history of Great Britain - including Winston Churchill, Jane Austen, Matthew Boulton and James Watt. An interesting fact is that the image of the Queen on the obverse of British coins is constantly updated with each new issue - all due to the changing appearance of Queen Elizabeth II with age. The pound exchange rate depends on many factors, including the policies of the British government, inflation and interest rates.
History of the pound sterling
The British Pound is said to be the oldest currency in the world. In the 7th century AD Anglo-Saxon King Offa introduced the pence made of silver, which is believed to be the direct ancestor of the British pound. Only a few centuries later, King Henry II officially introduced the pound sterling, which was convertible into silver, while the first pound coins appeared in 1498 and were made of gold. The Bank of England, which controlled the British currency, was founded in 1694, and the printing of the first banknotes began shortly after.