Full Form of GBP
GBP stands for Great British Pound. It is the official currency of the United Kingdom and is often abbreviated as £. Here are some key points about GBP:
- Currency Code: The international currency code for GBP is GBP.
- Symbol: The symbol for the Great British Pound is £.
- Subunit: The pound is divided into 100 pence (singular: penny).
- Central Bank: The currency is issued and regulated by the Bank of England.
- Historical Context:
- The pound is one of the oldest currencies still in use today, with origins dating back to the 8th century.
- Economic Importance:
- GBP is one of the most traded currencies in the world and is considered a major reserve currency.
Additional Facts:
- Exchange Rate: The value of GBP fluctuates against other currencies and can be influenced by various economic factors such as inflation rates, interest rates, and political stability.
- Symbol Origin: The symbol “£” is derived from the Latin word “libra,” which means pound.
Understanding GBP is essential for anyone involved in international trade, travel, or finance.