What is the Great British Pounds(GBP)?
GBP is the abbreviation for the British pound sterling, the official currency of the United Kingdom, the British Overseas Territories of South Georgia, the South Sandwich Islands, and British Antarctic Territory and the U.K. crown dependencies the Isle of Man and the Channel Islands. The African country of Zimbabwe also uses the pound. Many other currencies are pegged to the British pound, including the Falkland Islands pound, Gibraltar pound, Saint Helenian pound, Jersey pound (JEP), Guernsey pound (GGP), Manx pounds, Scotland notes. and Northern Ireland notes. Another name used for the Great British Pounds is Sterling. The symbol for the Pound is £. In a June 2016 referendum, British voters, by a slim majority, supported a measure to leave the European Union altogether, initiating a process that’s commonly known as Brexit.
The Great British Pounds and the Foreign Exchange Market.
Cable is a slang term for the exchange rate between the U.S. dollar (USD) and the Great British Pounds (GBP). The term is used among forex traders and can also refer to the British pound sterling. “Cable” comes from the early telegraph cables that were laid between London and New York that were used to communicate currency quotes and other data. Since the pound versus the dollar is one of the most commonly traded currency pairs, the term is heard frequently and is used interchangeably with the GBP/USD.
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