GBP is the official currency of Great Britain. It is referred to as sterling pounds. A pound is made up of 100 pence. Before pence became a standard, a pound was split into 20 shillings. One shilling was valued at 12 pence. Shillings are no more in use. GBP is the currency code which is used in the market to identify this currency. GBP is the most traded currency in the money market.
The central bank of Great Britain is Bank of England is the one of the oldest banks which traded on standardised Gold. They used Gold as the standard of money instead of Silver as many other countries and banks did at that time since the 17th century. This standard against Gold was the backbone of the strong economy of GBP till the 19th century.
During the recession in the year 2008, pound value depreciated at a faster rate than any other currency. GBP became a very stable currency since 2011 till today. This is the currency which is used as the reserve for all the countries around the world.
GBP is a standard which represents the currency of United Kingdom officially. Unofficially the currency is also referred by UKP, GGP, and JEP.
1 GBP is currently valued at 94 Rupees. If you are interested in travelling from India to the UK, you can be prepared yourself on how much money you need based on the exchange rates through Fxkart. You do not have to carry them, or be worried if there is a need to have more conversion or if there is any GPB not used. You can buy or sell British Pound (GBP) any time you need at the reasonable currency exchange rates for your GBP. You have the liberty to choose from. And you will get them delivered at your doorstep, what more do you need. Contact us now.
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