Banknotes of The Pound Sterling

Banknotes Of The Pound Sterling

Sterling banknotes are the banknotes in circulation in the British Islands (encompassing the United Kingdom and the British Crown dependencies), denominated in pounds sterling (symbol: £; ISO 4217 currency code GBP). One pound is equivalent to 100 pence.

The pound is the official currency of the United Kingdom and the Crown dependencies of Britain. Three British Overseas Territories also have currencies called pounds which are at par with the pound sterling.

In most countries of the world the issue of banknotes is handled exclusively by a single central bank or government, but in the United Kingdom seven retail banks have the right to print their own banknotes in addition to the Bank of England; sterling banknote issue is thus not automatically tied in with one national identity or the activity of the state. The arrangements in the UK are unusual but not unique, as a comparable system is used in Hong Kong, where three banks issue their own banknotes in addition to the Hong Kong government.

Read more about Banknotes Of The Pound Sterling:  History, Everyday Use and Acceptance, The Question of Legal Tender, Issuing Banks and Authorities, Scotland and Northern Ireland, Channel Islands, Isle of Man, British Overseas Territories, The Monarch On Banknotes

Famous quotes containing the words pound and/or sterling:

    Good art however “immoral” is wholly a thing of virtue. ... Good art can NOT be immoral. By good art I mean art that bears true witness, I mean the art that is most precise.
    —Ezra Pound (1885–1972)

    [Research has found that] ... parents whose children were “baby altruists” by two years firmly prohibited any child aggression against others. Adults not only restated their rule against hitting, for example, but they let the little one know that they would not tolerate the child hurting another.
    —Alice Sterling Honig (20th century)