One of the oldest and most reliable currencies in the world, the British pound sterling is in use not only in the UK itself. Its “jurisdiction” is much wider, which is not surprising, given the solid colonial history of the British. So, the English currency is also in circulation in the Falkland Islands, St. Helena and Gibraltar, and, of course, in Wales, Scotland and Northern Ireland.
The pound is divided into a hundred pence, coins in denominations of 2, 5, 10, 50 pence are called that way, but 1 “pence” is called the feminine gender - a penny. In the international currency register, British money is designated as GBR (an abbreviation for Great Britain Pound). Banknotes in circulation have denominations of 5, 10 and 20, 50 pounds. Things didn’t work out with the euro in Britain; the government refused to switch to a single European currency. So the pound is now the main currency of Great Britain.
Why is the pound so stable?
The refusal to switch to the euro is associated with the extreme stability of the pound, thanks to which the latter is the world's reserve currency, second only to the dollar. The English currency is well backed - Country's GDP 7th in the world in terms of quality indicators. Let's add here a very developed industrial production and a confidently high position in the software development market, and it becomes clear why the position of the pound has not been shaken even after the UK left the eurozone (formal for now). The exchange rate of the pound may fluctuate due to changes in stock prices for energy resources, but these fluctuations are very insignificant. The Ministry of Economics and a number of the country's banks, including the national one, work to maintain the high stability that the British currency boasts.
How did English money appear?
For the first time, the prototypes from which the monetary units of Great Britain were derived appeared during the time of Offa, one of the kings of Mercia (then the name of East Anglia). It was then that Off introduced the silver penny. And a little later, at about 775, the first full-weight pounds appeared. They were coins made of pure silver, 240 coins came out of a pound of silver, hence the name.
Interesting facts: Although smaller coins were in use in Great Britain from the 8th to the 13th centuries, the British preferred to cut the silver penny into halves and quarters and exchange it in this way. There were few gold pennies and their exchange rate was 20 silver.
After the 14th year, new coins appeared: farthing, guinea, sovereign, crown. More gold coins began to be minted, but their value steadily fell. Even later, small change coins made of tin, copper and metal appeared. In 1937, nickel coins (the word nickel, since then, another name for small change) were first used, and ten years later cupronickel replaced silver.
Which currency is best for exchange?
It should be said that it makes absolutely no difference which of the world’s leading currencies you take with you, in London or any other big city In England you can exchange euros and dollars without much loss, but with rubles it will be more difficult. You can purchase English currency units at exchange offices and banks. The rate in the latter will be more profitable.
Where to exchange and what are the exchange conditions?
The best rate will be offered by bank branches operating from 9 to 15:30 daily. The exchange commission here ranges from 0.5 to 1% of the amount. Here you can withdraw pounds from banks using international cards (MasterCard, American Express, Visa) and cash traveler's checks. Almost any bank will ask you for your passport for exchange. If you need to change money at odd hours, you can use the services of 24-hour exchangers (remember, British currency is available 24/7 only at those exchangers located at airports, train stations and busy places in big cities, like London.
Prices for products and services in Britain are quite high; even a 0.5 liter bottle of drinking water will cost you one pound. Average daily costs per person (including accommodation and transport) will be up to £70-80. So, when going to England, plan your budget well in advance; unforeseen expenses can make a significant hole in it.
Pound sterling (GBP), equal to 100 pence. Banknotes in circulation include 50, 20, 10, 5, 2, 1 pounds and coins in denominations of 1, 2, 5, 10, 20, 50 pence and 1 pound. Often in everyday life, especially in the provinces, the names of old British coins are used - “guinea”, “shilling”, “penny”, etc., but the real payment system still remains the pound. Since January 1, 2002, despite the introduction of the euro in the EU countries, the UK has retained its national currency.
The monetary unit of Scotland is the pound, equal to 100 pence. Scottish banks have historically had the right to print their own money, which in the UK officially has the same value as English money, although it is not a convertible currency. UK banks can exchange them at their own discretion and rate, and Scottish banknotes are not circulated outside the country. Banknotes in circulation are in denominations of 1, 5, 10, 20, 50 and 100 pounds of the original design.
The island of Guernsey has its own currency - the Alderney pound (Guernsey pound, GBP), equal to 100 pence. Its exchange rate is also pegged to the pound sterling. There are banknotes in denominations of 1, 5, 10, 20 and 50 pounds, as well as coins of 1 and 2 pounds, 1, 2, 5, 10, 20 and 50 pence in original designs. Guernsey currency is not officially used in the UK and is used mostly only in the Channel Islands, although it is exchanged in many British banks.
Banking and currency exchange
Banks are open from 9.00 to 15.30 without a break on weekdays, large banks are also open on Saturdays.
You can change money at any bank branch (commission 0.5-1%), in the evening - at exchange offices of large department stores and at some travel agencies. At airports, exchange offices operate 24 hours a day. A passport is required to exchange cash.
Credit cards and traveler's checks from the world's leading payment systems are widely used. Automated teller machines (ATMs) are very widespread, but the unreliability of street ATMs has already become a proverb - cases of erroneous blocking of credit cards are quite common, and the operation of unblocking an account is quite lengthy, so it is recommended to use ATMs in institutions.
Tips
Tips are 10-15% of the bill (unless a service charge is already included). It is customary to leave small coins in hotel bars and cafes. It is not necessary to tip a taxi driver, but it is usually considered “good form” to leave up to 10% of the meter. For a hotel maid - 10-20 pounds per week, for a porter - 50-75 pence (in a prestigious hotel - from 1 pound per suitcase). In pubs they don't give tips.Prices
The UK is one of those countries where travel needs to be planned in advance and carefully to avoid high costs, since this country is not cheap. The rule always works - the earlier you buy a ticket (or book a hotel), the cheaper it is. For example, train travel from London to Edinburgh can cost £20 if purchased a month in advance, rising to £80 if purchased on the day of departure. The situation is similar with hotels, when when booking a room 2-3 months before the trip, accommodation in central London can cost from 50 pounds, while the regular price exceeds 100 pounds.
The UK has very expensive restaurants, but if you eat away from the tourist centers of cities, for example in Chinatown (which are found in London, Liverpool, Manchester and other cities), then the cost of food will be minimal. Also, small emigrant cafes serving Polish cuisine are very cheap, where you can have a hearty lunch for no more than 7-10 pounds.
Mrmineika |
2016
Pound sterling is the monetary unit of Great Britain. 1 pound = 100 pence. Symbol: £ (Latin Libra - pound), bank code: GBP (Great Britain Pounds), the outdated abbreviation UKL (United Kingdom Libra) is also sometimes used. Banknotes in circulation are 5, 10, 20, 50 pounds; coins of 1, 2, 5, 10, 20, 50 pence, 1, 2 pounds. 1/2, 25 pence and 5 pound coins are rare.
Banks of individual territories within Great Britain (Scotland, Ulster, etc.) issue banknotes with their own designs. Formally, these banknotes must be accepted by all UK banks, but in practice there are cases of refusal.
Story
There are several versions of the origin of the name pound sterling. Some sources believe that the name appeared in the 12th century and originally meant literally “a pound of pure silver.” This is related to the "sterling" - an ancient English silver coin. The 240 coins weighed 1 Tower pound (5400 grains, about 350 grams) or 1 Troy pound (about 373.24 grams). Large purchases were expressed in “pounds sterling.” On the other hand, it was a way to check the weight of the coins - if the weight of 240 coins was not equal to 1 pound, the coins could be counterfeit or too worn.
The most widely accepted theory is that of Walter de Pinchebek, which states that the name "Easterling Silver" was previously used to designate the characteristic alloy of 925 silver from which coins were made in northern Germany. This area of five cities was called “Easterling” by the British; in the 12th century it became part of the Hanseatic League (Hanse). This district had its own representative office (“office”) in London and conducted active trade with England, paying for goods with local coins that were of high quality and hardness (pure silver is too soft and wears off quickly). King Henry II made this alloy the standard for English coins starting in 1158. Gradually, the name of the alloy was shortened in speech to "Sterling Silver" and became the equivalent of "coin silver".
The name was finally assigned to the monetary unit in 1694, when the Bank of England first began issuing banknotes.
In modern English, the word pound is used to denote the money of Great Britain (English pound, for example, This car costs 10,000 pounds). To distinguish the British currency from the currencies of the same name in other countries, the full form pound sterling is used in official documents. In exchange practice, the name sterling (English sterling, for example, The dealer bought sterling and sold US dollars) has become widespread. In less official texts the term British pound appears. In colloquial speech the word English is used. quid, the origin of which is seen in the Latin phrase “quid pro quo”.
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COINS
Decimal coin system
These coins first appeared in 1968. These were 5 (5p) and 10 (10p) pence coins, which were equivalent to and were in regular circulation with 1(1/-) and 2(2/-) shilling coins. A curved equilateral heptagon, the 50p (50p) cupro-nickel coin replaced the 10/- shilling note in 1969. The decimal coinage system came into force when the number of such coins became widespread and with the introduction of bronze half, one and two pence coins in 1971 and the withdrawal of 1(1d) and 3(3d) penny coins from circulation. Old sixpence (6d) coins circulated at a value of two and a half pence until 1980. In 1982, the word "new" was removed from minted coins, and a 20p (20p) coin was introduced, following the one pound (£1) coin in 1983. The halfpenny (½p) coin was last minted in 1983 and went out of circulation in 1984. The early 1990s saw a change in coin material from bronze to copper-plated steel and a reduction in the size of the 5p, 10p and 50p coins. The old one shilling coins, which remained in circulation with a value of 5 pence, were withdrawn from circulation in 1991, followed by a reduction in the size of the five penny coins, and the two shilling coins were also withdrawn from circulation in 1993. The bimetallic two pound (£2) coin was introduced into circulation in 1998.
Currently, the oldest circulating coins in the UK are the one penny (1p) and two penny (2p) copper coins, first introduced in 1971. Before the introduction of the decimal coinage system, coin change could contain coins that were a hundred years old or more, with any of the five monarchs on the obverse.
In 1992, the material composition of the one (1p) and two penny (2p) coins changed from bronze to copper-plated steel. New steel-core coins can be selected using a magnet, while all-bronze coins will be phased out of regular circulation. Today Britain remains one of the few modern countries where a large number of coins have a value similar in value to the "gold" guarantee of old sovereigns.
In April 2008, an extensive change in coin style was initiated. The new style coins were released into circulation gradually, starting in the summer of 2008. The new 1p, 2p, 5p, 10p, 20p and 50p coin reverses contain part of the Royal Shield, while the new pound coin contains the entire shield. The coins have the same characteristics as the old style coins (which are still in circulation).
An interesting incident is associated with the change in the appearance of coins in 2008. In 2008, the Royal Mint minted both old and new types of coins, and in November 2008 a number of twentypence coins were issued without any date. This happened due to the fact that on the old coins of this denomination the date was placed on the side opposite the portrait of Queen Elizabeth II (reverse), while on the new coins the date is placed exactly on the side where the portrait is located (obverse) ( see pictures). When minting the “wrong” coin, the old obverse stamp (without date) and the new reverse stamp (also without date) were mistakenly used. By official information(Royal Mint website) this deficiency affected no more than 250,000 of the 136,000,000 twentypence coins issued this year. According to unofficial data, this is the first British coin without a date in the last 300 years.
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In the VoxBook audio course, which is based on fiction without simplifying the text, you will definitely come across references to English money. Currency of England pound- pound or pound sterling- pound sterling (from Latin - weight) is abbreviated as £
put into circulation in the 9th-10th centuries.
Previously, in England, a non-decimal coin system was used to count money; one pound was equal to 240 pence. In 1971, the UK currency system was reformed to a decimal coinage system, and one pound became equal to 100 pence. At the same time, most of the monetary units of the past fell out of use, but references to them certainly remained in the literature, and accordingly they remained in our audio course.
So in the VoxBook audio course in the fairy tale "Mr Vinegar" from the collection English Fairy Tales:
"Here, Jack [here/here, Jack]," said one [said one], "here"s five pounds for you ["there's" five pounds for you]; here, Bill, here's ten pounds for you [here, Bill, there's ten pounds for you]; here, Bob, there's three pounds for you [here Bob, there's three pounds for you].
Let's take a closer look at the question of Great Britain's monetary units of the present and past, and at the same time find out why in this passage there are five pounds, three pounds, ten pounds and not one pound.
English money now.
In 1971, the UK monetary system was reformed into the familiar decimal coin system. One pound is equal to 100 pennies. In circulation there are banknotes in denominations: 1, 5, 10, 20, 50 pounds, as well as coins of 1 and 2 pounds, and 1, 2, 10, 20, 50 pence called new penny- a new penny.
Currency unit pound or pound sterling(plural pounds) - pound or pound sterling is abbreviated as £
(from the Latin word libra - pound). This sign is placed before the number:
£1 - one pound or one pound sterling(units).
£2 - two pounds or two pounds sterling(plural).
£10 - ten pounds or ten pounds sterling(plural).
Currency unit penny penny = 1/100 of a pound (plural pence- pence) - abbreviated p. This sign is placed after the number (with or without a dot):
1p. - one penny (unit).
2p. - two pence (plural).
10p. - ten pence (plural).
One penny is denoted 1p, read a penny or one penny.
One pound £1 is read a pound or one pound.
When denoting the number of pence in words, the words are written together: sixpence, fivepence, fourpence, threepence, twopence.
10p - ten pence is often pronounced ten pee (reading the abbreviation p).
If the number of digits of pounds is more than three, then every three digits from right to left are separated by a comma, and pence from pounds by a dot:
£1,234,567.00 = £1,234,567.
Money amounts consisting of pounds and pence are designated in one of the following ways:
£265.78, £265-78 and read the same - two hundred and sixty-five pounds and seventy-eight (pence).
If it is necessary to indicate that we are talking specifically about English currency, then you can indicate pound(s) sterling - pound(s) sterling. In this case, the word sterling is never given the ending -s (since the word sterling is an adjective):
165 pounds sterling; £165 sterling= £165.
The word "sterling" is often used when writing a monetary amount in words:
£1,234.56 - one thousand two hundred and thirty-four pounds sterling and fifty-six (pence).
Monetary units of England of the past.
In the name of the currency of England pound sterling - pound sterling reflects the equivalent value of one pound of silver. One pound of silver was minted into 240 pence (penny and penny are the singular and plural forms of the same word). The word sterling means pure, of a specified standard. The pound was indicated by the sign £ (without a dot or a Latin letter L), this sign is placed in front of the number. Pennies were indicated by a sign d.(from the word dinar, as opposed to today's designation p.), the shilling was indicated by the sign s or 1/- . The penny and shilling signs were written with or without a dot after the letter.
In England, a non-decimal coin system was used to count money (rather, it is similar to the duodecimal system: 1 pound = 240 pence):
- 1 pound pound or pound sterling = 4 crowns or 20 shillings or 240 pence)
- 1 sovereign [ˈsɔvrin] sovereign = 20 shillings equivalent to 1 pound
- 1 guinea [ˈɡini] guinea = 21 shillings
- 1 crown = 5 shillings
- 1 florin [ˈflɔrin] florin = 2 shillings
- 1 shilling [ˈʃiliŋ] shilling = 12 pennies
- 1 groat [ɡrəut] grout = 4 pennies
- 1 penny [ˈpeni] penny = 4 farthings
- 1 farting [ˈfɑːtiŋ] farthing = 1/4 penny
The smallest coin was a farthing =1/4d. (1/4penny) = 1/960 pound.
Coins were issued: half farting = 1/8 d., third farting = 1/12 d., and quarthing farting = 1/16 d).
Penny - short name d.(from dinar).
Coins were issued: halfpenny - 1/2d., twopence - 2d., threepence - 3d., groat - 4d., five pence = 5d., sixpence - 6d.
Shilling - short term s.= 12d. (12 pence)
Florin = 2s. (2 shillings) = 24d.
Crown = 60d. (60 pence).
Half crown coins were issued - half a crown = 30d.
Gold Guinea, issued from 1663 to 1814. Guinea is an unofficial name that is derived from the gold mining area of Guinea. In 1817, the guinea was replaced by the gold sovereign. Coins were issued in 1/3 guinea, 1/2 guinea, 1 guinea, 2 guineas and 5 guineas.
Sovereign = 240d. (240 pence) = 20s. (20 shillings) = £1 (1 pound)
Half sovereign = 120d coins were issued. (120 pence) = 10s. (10 shillings) = £1/2 (1/2 pound).
In the VoxBook audio course in the fairy tale "The Ass, the Table, and the Stick" from the collection English Fairy Tales, which mentions English money of various denominations:
...and he had but to pull Neddy's ears [and “he only had to” = he only had to pull Donkey’s ears] to make him begin at once to ee-aw [to make him start right away (shouting) uh]! And when he brayed [and when he roared] there dropped from his mouth silver sixpences [here silver sixpence fell / fell from his mouth], and half-crowns[and half a crown] , and golden guineas [and golden guineas].(English Fairy Tales - "Mr Vinegar")
There were coins of other denominations, such as half-sovereign, half-guinea, half-crown, half-penny, half-grout, 2 pence, 3 pence, 6 pence sixpence or "tanner" and others.
Some coins were not minted, for example there are no old 1 pound coins, instead a 1 sovereign coin was minted in gold with a denomination of 1 pound. Coins were also minted in denominations of 2 pounds and 5 pounds. A variety of paper notes were issued, including £3 notes. This is exactly what is mentioned at the beginning of the article in an example from the audio course.
Naming English money and sums of money in slang
Besides official names monetary units, there were slang expressions denoting certain English money. Below are the most commonly used slang synonyms:
1d = coal
1p = yennep/yenep/yennep/yennep
4d = gross
6d = tanner, bender, sixpence, kick, simon, sprazi/sprazzy, sprat/spratt, tom/tom mix
1s = bob, chip or shilling bit, dinarly/dinarla/dinaly, gen, hog
2s = two bobs, bice/byce
5s = caser/case, tosheroon/tusheroon/tosh/tush/tusseroon
10s = ten bob, half, half a bar/half a sheet/half a nicker, knicker, net gen
£1 = bar, jack, nicker, nugget/nuggets, quid, saucepan
£2 = bottle, half a crown
£3 = tray/trey
£5 = fiver, flag paper £5,flim/flimsy, handful, jacks, oxford
£10 = tenner, big ben; £20 = score; £25 = macaroni, pony
£100 = ton; £500 = monkey; £1,000 = grand; £100,000 = plum
1 = guinea job, ned
1 = sovereign strike
According to the Central Bank Russian Federation on February 15, 2020, the price per 1 (GBP) is 82.7816 Russian ruble(RUB). +0,2331 Russian ruble Compared to the previous working day, the change was
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| To view the archive of the pound sterling exchange rate, click on the “Today” link and select the required date using the calendar. | This chart will help you quickly receive information about pound sterling versus ruble quotes on the Forex market in real time. The user is given the opportunity to customize the terminal according to his preferences, choosing the style of bars and customizing indicators. Updated online, real-time GBP/RUB currency quotes reflect Forex trading. | date | Central Bank rate |
|---|---|---|---|
| Change | Percent | +0,23 Today, Sat | +0,28 % |
| 1 GBP = 82.78 RUB | RUB | +0,78 Today, Sat | +0,96 % |
| Yesterday, Fri | 1 GBP = 82.55 RUB | -0,75 Today, Sat | -0,91 % |
| 13 February, Thu | 1 GBP = 81.77 RUB | +0,40 Today, Sat | +0,49 % |
| 12 February, Wed | 1 GBP = 82.52 RUB | +0,04 Today, Sat | +0,05 % |
| February 11, Tue | 1 GBP = 82.12 RUB | +0,52 Today, Sat | +0,64 % |
| February 8, Sat | 1 GBP = 82.08 RUB | -0,87 Today, Sat | -1,06 % |
| February 7, Fri | 1 GBP = 81.56 RUB | +0,16 Today, Sat | +0,20 % |
| 6 February, Thu | 1 GBP = 82.43 RUB | -1,71 Today, Sat | -2,03 % |
| February 5, Wed | 1 GBP = 83.98 RUB | +1,01 Today, Sat | +1,22 % |
| February 1, Sat | 1 GBP = 82.96 RUB | +1,13 Today, Sat | +1,38 % |
| January 31, Fri | 1 GBP = 81.83 RUB | +0,63 Today, Sat | +0,78 % |
| January 30, Thu | 1 GBP = 81.2 RUB | -0,56 Today, Sat | -0,69 % |
| January 29, Wed | 1 GBP = 81.76 RUB | +0,24 Today, Sat | +0,30 % |
Dynamics of the official pound sterling to ruble exchange rate according to the Central Bank of Russia
The graph shows the dynamics of changes in the value of 1 pound sterling (GBP) against the ruble (RUB).
Using quick links or the horizontal ruler under the graph, you can select any time period that interests you. For the period you selected, the minimum price is for 1 UK pound Russian ruble was ($ min|number:4 $) For the period you selected, the minimum price is for 1. It was ($min|date:"d MMMM yyyy"$) years. Russian ruble.
Maximum price for 1
was fixed ($max|date:"d MMMM yyyy"$) year and was equal to ($max|number:4$)
| Cross-currency rates from the Central Bank of the Russian Federation | Cross exchange rates are prepared based on the official exchange rate of the Russian ruble to foreign currencies, established by the Central Bank of the Russian Federation as of February 15, 2020. |
|---|---|
| Currency | Cross course |
| Ruble to pound sterling | 1 RUB = 0.0121 GBP |
| Australian dollar | 1 GBP = 1.9391 AUD |
| British pound to Azerbaijani manat | 1 GBP = 2.2133 AZN |
| UK pound to Armenian dram | 1 GBP = 624.2533 AMD |
| UK pound to Belarusian ruble | 1 GBP = 2.8699 BYN |
| British Pound Sterling to Bulgarian Lev | 1 GBP = 2.3548 BGN |
| UK pound to Brazilian real | 1 GBP = 5.6755 BRL |
| UK pound to Hungarian forint | 1 GBP = 404.5231 HUF |
| UK Pound to South Korean Won | 1 GBP = 1542.1541 KRW |
| UK pound to Hong Kong dollar | 1 GBP = 10.1324 HKD |
| UK Pound to Danish Krone | 1 GBP = 8.9972 DKK |
| UK pound to dollar | 1 GBP = 1.3046 USD |
| UK pound to euro | 1 GBP = 1.2037 EUR |
| British pound to Indian rupee | 1 GBP = 93.067 INR |
| British Pound Sterling to Kazakh Tenge | 1 GBP = 493.2379 KZT |
| UK Pound to Canadian Dollar | 1 GBP = 1.7289 CAD |
| British pound to Kyrgyzstani som | 1 GBP = 91.1618 KGS |
| UK pound to Chinese yuan | 1 GBP = 9.106 CNY |
| British pound to Moldovan leu | 1 GBP = 4.5596 TMT |
| British pound to Norwegian krone | 1 GBP = 12.0754 NOK |
| British pound to Polish zloty | 1 GBP = 5.1074 PLN |
| British pound to Romanian leu | 1 GBP = 5.7391 RON |
| UK Pound Sterling to SDR (Special Drawing Rights) | 1 GBP = 0.9536 XDR |
| UK pound to Singapore dollar | 1 GBP = 1.813 SGD |
| British pound to Tajikistani somoni | 1 GBP = 12.6502 TJS |
| British pound to Turkish lira | 1 GBP = 7.9038 TRY |
| British pound to Uzbek som | 1 GBP = 12,441.9809 UZS |
| British pound to hryvnia | 1 GBP = 31.8959 UAH |
| UK Pound to Czech Koruna | 1 GBP = 29.8506 CZK |
| British pound to Swedish krona | 1 GBP = 12.6306 SEK |
| UK pound to Swiss franc | 1 GBP = 1.2793 CHF |
| UK Pound to South African Rand | 1 GBP = 19.3891 ZAR |
| UK pound to Japanese yen | 1 GBP = 143.2255 JPY |
Information about the pound sterling
Pound sterling or British pound (English: Pound sterling, Pound, British pound) is the official monetary unit of Great Britain (United Kingdom of Great Britain and Northern Ireland) within England, Scotland, Wales and Northern Ireland.
In addition to the above-mentioned countries, the pound sterling circulates in parallel in the crown lands of Guernsey, Jersey and the Isle of Man, and also serves as legal tender for overseas territories Britain (Falkland Islands, Gibraltar, St. Helena, Ascension and Tristan da Cunha).
There are 100 pence in a pound sterling. The symbol is £ (from the Latin Libra - libra, equivalent to a pound). The code is GBP (from the English Great Britain Pound), and the outdated abbreviation UKL (United Kingdom Libra) is also sometimes used. Banks in Scotland and Northern Ireland print their own banknote designs. Pound is a measure of weight. Pound sterling is a pound of money, more precisely 453.6 grams.
Historical reference
The pound sterling is one of the oldest world currencies. Silver sterling began to be minted back in 1066. King Henry II designated sterling as official currency England, and it began to be called the pound in the 12th century. In 1489, the first coin was minted for one pound sterling or, as they were still called then, one sovereign. The name was explained by the image on the coin of the profile of Henry VII, the sovereign of his subjects. The sovereign was made of pure gold (994 purity) and weighed 15.47 grams.
During the monetary reform of 1560, old coins were replaced with new ones. The first paper money was issued by the Bank of England in 1694, and in 1826 Great Britain established the gold standard, which recognized the sovereign as the main monetary unit, weighing 7.32 grams of pure gold.
Great Britain was a leading world power in the 18th and 19th centuries, so the pound sterling became a reserve currency. The pound lost its position only after the Second World War, when leadership in the world economy passed to the United States. The British are well-known conservatives and therefore only in 1971 they switched to the decimal system, dividing the pound into 100 pence.
In 1972, the pound exchange rate became floating, i.e. The Bank of England stopped supporting it, and the value was determined through exchange trading. This is mainly the reason that since 1976 the value of this currency has decreased, and it was worth less than two dollars. The record low was reached in 1977, when the pound was worth $1.72.
The minimum exchange rate of the Russian ruble against the pound sterling was fixed in December and January 1998 and amounted to 34.35 rubles per 1 pound sterling GBP. Until 2013, the ruble behaved relatively stable against the pound sterling. The subsequent period of economic instability in Russia reduced the value of the ruble to its maximum rate in the fall of 2014 - 73.16 RUR per 1 GBP. Currently, the weakening of the ruble continues.
UK economy
The country's economy is one of the seven leading in the world, and is a powerful innovation system of the entrepreneurial type. The UK government sets the goal of achieving leadership in the most knowledge-intensive sectors of the economy and various research areas.
UK research centers are leading in the following areas:
- biology and medicine;
- information and telecommunication technologies;
- mechanical engineering, etc.
In industry, a large role is given to the extractive industries. In recent decades, along with the closure of unprofitable coal mines, there has been a powerful increase in oil and gas production on the shelf North Sea. Field development and production are carried out by world leaders British Petroleum and Royal Dutch/Shell using the world's most advanced technology.
In the manufacturing industry, the basic industries are:
- transport engineering, where the automotive industry is in the lead;
- shipbuilding;
- aerospace industry;
- food industry;
- general mechanical engineering (machines and equipment for agriculture and textile industry);
- chemical industry and pharmaceuticals;
- metallurgy;
- electronics, computers and software;
- pulp and paper industry.
Financial sector - business card Great Britain. In London alone, in addition to English banks, there are 50 largest financial institutions different countries. London is the main European platform for the insurance market, financial instruments, bonds, foreign exchange market, financial leasing, trading in precious metals, etc.
The first mention of the pound dates back to 775, when sterling became the main currency of the Anglo-Saxon kingdoms. A very wealthy person could then have 240 sterling or 1 pound (350 grams) of silver.
It is now impossible to determine exactly how the word “sterling” was formed. Scientists have put forward different versions, according to which the name began with the stars on the coins, the name of the land where they were minted. Regardless of this, the word ultimately means the silver from which the coins were minted.
How much will
For convenience, a quick “calculator” is provided to help you understand which banknote costs how much. The information is current as of February 15, 2020 according to the Central Bank.
| Cross-currency rates from the Central Bank of the Russian Federation | Conversion |
|---|---|
| 5 GBP | RUB 413,908 |
| 10 GBP | RUB 827,816 |
| 25 GBP | RUB 2,069.54 |
| 50 GBP | RUB 4,139.08 |
| 100 GBP | RUB 8,278.16 |
| 250 GBP | RUB 20,695.4 |
| 500 GBP | RUB 41,390.8 |
| 1000 GBP | RUB 82,781.6 |
| 2500 GBP | RUB 206,954.0 |
| 5000 GBP | RUB 413,908.0 |
| 10,000 GBP | RUB 827,816.0 |
| 25,000 GBP | RUB 2,069,540.0 |
| 50,000 GBP | RUB 4,139,080.0 |
| 100,000 GBP | RUB 8,278,160.0 |
