Countries that use the Sterling Pound
The Sterling Pound is an official currency and used in the United Kingdom, on the Pitcairn Islands and on the South Georgia and South Sandwich Islands. It is considered a key currency with particular importance in international trade. 1 Pfund is devided into 100 Pence.
1.00 Sterling Pound = 1.34 US Dollar
Exchange rate history 1 GBP in USD
Sterling Pound as currency
Currencies with a fixed exchange rate to the Sterling Pound
Currency reserves for the Sterling Pound
According to the International Monetary Fund, the total broad money (M3) amounted to GBP 3,024.92 billion at the end of 2017 (data only for United Kingdom). For currency hedging, reserves were held in a total amount of 108.20 billion Pounds. This corresponds to a ratio of 1:28.0. In other words: Not even 1 of 28 Pounds is deposited with a countervalue.
Approximately 9.2 billion Pounds (8.5%) of the currency reserves exist in gold reserves, the remainder consists of foreign currencies, special drawing rights in the International Monetary Fund and other reserve positions.Worldwide currency and gold reserves
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