British Pound Sterling

The Pound Sterling is divided into 100 pence. Coins come in denominations of 1p, 2p, 5p, 10p, 20p, 50p, £1, and £2. Banknotes are issued in £5, £10, £20, and £50.

Pound Sterling banknotes and coins feature notable figures from British history and culture. For instance, Queen Elizabeth II's portrait is on the obverse of every coin, while the reverse side depicts a range of designs.

Financial experts regard the Pound Sterling as one of the world's leading reserve currencies. The UK's well-developed financial markets and institutions, and London's status as a global financial hub, contribute to the Pound's prominence.

However, experts note that developments like Brexit and its implications can introduce uncertainty into the UK's economy and influence the Pound's value. Brexit has raised questions about the future of financial services and trade between the UK and the EU, which could impact the Pound in the longer term.

The Bank of England is responsible for the regulation of the Pound Sterling. It controls the issuance of new notes and coins, sets monetary policy, oversees the UK's financial system to ensure its stability, and acts as the lender of last resort to provide financial institutions with liquidity in times of stress.

The Financial Conduct Authority (FCA) also plays a significant role in financial regulation in the UK, overseeing conduct in retail and wholesale financial markets and the infrastructure that supports those markets.