GBP: Full Form in Currency
- GBP stands for Great British Pound.
- It is the official currency of United Kingdom and its territories.
- The symbol for GBP is £.
Key Features of GBP:
- ISO Code: The ISO 4217 code for the British Pound is GBP.
- Subunits: The pound is subdivided into 100 pence (singular: penny).
- Currency Symbol: The most commonly used symbol is £.
- Central Bank: The Bank of England is responsible for issuing and regulating the GBP.
Importance of GBP in the Global Economy:
- Major Currency: GBP is one of the most traded currencies in the world.
- Reserve Currency: It is often held as a reserve currency by various countries.
- Influence on Trade: GBP fluctuations can significantly impact trade relations and investments globally.
Conclusion:
Understanding the GBP is essential for those engaged in international finance, travel, or trade, as it plays a vital role in the global economy.