The pound sterling
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The pound sterling, commonly called the pound, is the official currency of the United Kingdom, its Crown Dependencies (the Isle of Man and the Channel Islands) and the British Overseas Territories of South Georgia and the South Sandwich Islands, British Antarctic Territory and Tristan da Cunha.
It is subdivided into 100 pence (singular: penny).
The first coins appeared in 1968. These were coins in 5 (5p) and 10 (10p) pence.
In April 2008, started changing coins. New coins 1p, 2p, 5p, 10p, 20p and 50p.
Sterling is the fourth most traded currency in the foreign exchange market, after the US dollar, the euro and the Japanese yen.
The full, official name, pound sterling, (plural: pounds sterling) is used mainly in formal contexts. Otherwise the term pound is normally used.
The abbreviations "ster." or "stg." are sometimes used.
There is some uncertainty as to the origin of the term "pound sterling".
In 1971 the pound has been divided into 100 pence (until 1981 described on the coinage as "new pence").
The symbol for the penny is "p".
50p (£0.50) properly pronounced "fifty pence".
The pound sterling is the world's oldest currency still in use. The pound was a unit of account in Anglo-Saxon England. The first sterling minted in Britain back in 1066. King Henry in 1158 to the year he was appointed British sterling currency. Pound is the currency was called in the second half of the 12th century. His name as a measure of weight.
The first sterling notes were issued by the Bank of England shortly after its foundation in 1694. From 1745, were printed in denominations between £20 and £1000. £10 notes were printed in 1759, followed by £5 in 1793 and £1 and £2 in 1797.
In 1855, were converted denominations of £5, £10, £20, £50, £100, £200, £300, £500 and £1000 issued. Now produce only bills up to 50 pounds.
The pound is freely bought and sold on the foreign exchange markets around the world, and its value relative to other currencies therefore fluctuates. It has been among the highest-valued currency units in the world. As of 2 November 2011, £1 was worth : US$1.60; €1.16; ¥125.
Protective elements:
1.Relief printing - used in some parts of the bill.
2. Security thread - strip on paper, each banknote.
3. Watermark - an image of Queen on both sides.
4. Hologram - a holographic image on the obverse of the banknote.
5. Fluorescence function - the denomination that is visible under ultraviolet light.
6. Micro text - the text as a picture of the patterns and in other place on the bill.