Currently, the countries of the world manage their economy based on your local currency. Therefore, as money is very important in our life, knowing the currency that is handled in other countries allows us another perspective to make financial decisions.
For example, if we are thrifty people, then we must choose a currency whose market price is maintained. Later, we open a savings account in that currency and we keep our money there.
On the other hand, if the price of the currency does not hold and is constantly devalued, like what happens with the currencies of Argentina and Venezuela. Then our savings will lose value in the same way.
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That is why here we are going to explain everything you need to know about the pound sterling and its equivalent in dollars and euros.
What is and where is the pound sterling?
The British pound is about nothing more and nothing less than the current currency within the UK. That is, in each of the countries that are part of this kingdom. Well, this currency is known to many simply as the pound.
This coin is identifies with the letter £, similar to an L. Which has its origins in the Roman alphabet, where it was used to indicate a unit of mass.
Similarly, it is one of the oldest coins in the world. However, the British themselves display it as the oldest of all which is still ongoing. Although, its origin dates back to the year 760. But at that time the currency only circulated within England.
In the same vein, it was not until 1489 that the pound sterling was officially declared as the official currency of that territory. His style stood for almost 500 more. However, currently has undergone various changes in its style and composition. One of the main ones is to use nickel and metal materials for their manufacture.
This coin is very popular all over the world. This is due to the economy that the United Kingdom maintains, which has positioned this currency as one of the most valuable. Also, in terms of its nomenclature, unlike other currencies, its symbol is written in front of the amount and no space is left between the amount and the symbol.
The origin of the name of the currency ‘Libra’, refers to the pound of mass unit. This is because previously when this currency was used, the weight of each one was One Pound Silver Tower sterling. That is why it is called the pound sterling.
How much is the value of the British pound in dollars or euros?
The pound is currently among the most valuable currencies in the world. To be more specific, stands number five within the world top. And this is not a surprise to anyone.
Well, for a long time, the United Kingdom has established itself as one of the main economies in the world, not only because it occupies the second GDP of the European Union, only behind Germany. But, because over time, this economy has managed to make the best decisions.
For example, we have the case in which the United Kingdom did not want to be part of the euro zone and kept its currency despite the opinions of other countries. This resulted in your currency was subject to changes which will present its economy and not to the rest of the countries as a whole.
Currently, one pound sterling has a value above the US dollar and the euro, which is as follows: £ 1 = $ 1.40 and £ 1 = € 1.15. Therefore, it is the highest value currency circulating in Europe.
This means that if we are going to buy euros with pounds sterling, we can obtain euro maps than the amount provided in pounds. However, this change is still subject to the exchange rate explained above. But it may undergo changes due to fluctuations in the euro in the world market. The same would apply to the purchase of dollars.
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