British Pound Sterling (GBP)
This is the national currency of the United Kingdom of Great Britain and Northern Ireland. This is the first of the major currencies, which many countries have begun to use as a backup. Lately Sterling boasts a fairly stable exchange rate, it is held firmly in the top ten most expensive currencies in the world and more than 4% of global assets is stored in pounds. In the 1930s, traders began to call the pound “cable”, because most of the transactions were with sterling and the main means of communication was by telegraph. One of the main currencies is the GBP/USD pair. The most active of its currency pairs (see) is EUR/GBP (euro/pound) and GBP/JPY (pound/yen).