The
pound sterling (symbol:
£;
ISO code:
GBP), commonly known simply as the
pound, is the official
currency of the
United Kingdom,
Jersey,
Guernsey, the
Isle of Man,
South Georgia and the South Sandwich Islands, the
British Antarctic Territory, and
Tristan da Cunha. It is subdivided into 100
pence (singular:
penny). A number of nations that do not use sterling also have currencies called the
pound. At various times, the pound sterling was
commodity money or bank notes backed by silver or gold, but it is currently
fiat money, backed only by the economy in the areas where it is accepted. The pound sterling is the world's oldest currency still in use and which has been in continuous use since its inception.