Pound (currency)

A pound is any of various units of currency in some nations. The term originated in the Frankish Empire as a result of Charlemagne's currency reform ("pound" from Latin pondus, a unit of weight) and was subsequently taken to Great Britain as the value of a pound (weight) of silver.[1] As of December 2019, this amount of silver was worth approximately £147 sterling.[a]

Countries where the official English name of the currency is "pound"

The English word pound is a cognate with, among others, German Pfund, Dutch pond, and Swedish pund. All ultimately derive from a borrowing into Proto-Germanic of the Latin expression lībra pondō ("a pound by weight"), in which the word pondō is an adverb meaning "by weight" and related to the noun pondus ("weight").

The currency's symbol is £, a stylised representation of the blackletter L (), standing for libra (Latin: "pound").

Today, the term may refer to the English name of a number of (primarily British and related) currencies and a variety of obsolete currencies. Some of them, such as in countries formerly belonging to the Ottoman Empire,[citation needed] are called pound in English, while in the local languages their official name is lira.

Countries and territories currently using currencies called poundsEdit

Country/territory Currency ISO 4217 code Tied to pound sterling?
  Egypt Egyptian pound EGP No
  Falkland Islands Falkland Islands pound FKP Yes
  Gibraltar Gibraltar pound GIP Yes
  Guernsey Guernsey pound GGP[b] Yes
  Isle of Man Manx pound IMP[b] Yes
  Jersey Jersey pound JEP[b] Yes
  Lebanon Lebanese pound LBP No
  Saint Helena, Ascension and Tristan da Cunha Saint Helena pound SHP Yes
  South Sudan South Sudanese pound SSP No
  Sudan Sudanese pound SDG No
  Syria Syrian pound SYP No
  United Kingdom Pound sterling GBP N/A
  British Antarctic Territory[3]
  British Indian Ocean Territory[4]
  South Georgia and the South Sandwich Islands[5]

Historical currenciesEdit

Currencies of the former British colonies in AmericaEdit

All of the following currencies have been replaced by the US dollar.

See alsoEdit

NotesEdit

  1. ^ Silver coins were originally minted from the "finest silver available", The pound named is probably the tower pound which is equivalent to 11.25 troy ounces. 11.25 ozt @ £13.08/ozt = £147.2625 (£13.08/ozt was the price of 0.999 fine silver on 19 December 2019).[2]
  2. ^ a b c Unofficial code

ReferencesEdit

  1. ^ Online Etymology Dictionary
  2. ^ "XAG - Silver Ounce". XE.COM. Retrieved 19 December 2019.
  3. ^ "Foreign and Commonwealth Office country profiles: British Antarctic Territory". Archived from the original on 2003-09-02.
  4. ^ "Foreign and Commonwealth Office country profiles: British Indian Ocean Territory". Archived from the original on October 16, 2007.
  5. ^ "Foreign and Commonwealth Office country profiles: South Georgia and the South Sandwich Islands".