It stands for POUND which is the British currency. Actually it is not a fancy E but a fancy L because it is short for LB or LIBRA - the latin form of 'pound'.
I'm old enough to remember when it was not just 100 pennies to the pound but we had pounds, shillings, and pence ( written as L S D ! which actually stood for librae, solidi and denarii ). We used to have 12 pennies to a shilling and 20 shilling to a pound (or 21 shillings to a guinea) which meant we had 240 pennies to a pound. I think all the kids of my generation were good at arithmetic solely due to having to figure out the strange coinage!
2006-10-30 16:58:42
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answer #1
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answered by JaneB 7
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£ means Pound Sterling. It is the currency used in the United Kingdom.
The pound (symbol: £; ISO code: GBP), divided into 100 pence, is the official currency of the United Kingdom and the Crown Dependencies. The slang term "quid" is very common in the UK.
The official full name pound sterling (plural: pounds sterling) is used mainly in formal contexts and also when it is necessary to distinguish the currency used within the United Kingdom from others that have the same name. The currency name — but not the names of its units — is sometimes abbreviated to just "sterling", particularly in the wholesale financial markets; so "payment accepted in sterling", but never "that costs five sterling". The abbreviations "ster." or "stg." are sometimes used. The term British pound, used particularly by the U.S. media, is not an official name of the currency.
The pound was originally the value of one Troy pound of sterling silver (hence "pound sterling"). The currency sign is the pound sign, originally ₤ with two cross-bars, then later more commonly £ with a single cross-bar. The pound sign derives from the black-letter "L", from the abbreviation LSD – librae, solidi, denarii – used for the pounds, shillings and pence of the original duodecimal currency system. Libra was the basic Roman unit of weight, which in turn derived from the Latin word for scales or balance. The ISO 4217 currency code is GBP (Great Britain pound). Occasionally the abbreviation UKP is seen, but this is incorrect. The Crown Dependencies use their own (non-ISO) codes when they wish to reflect their distinctiveness. Stocks are often traded in pence, so traders may refer to Pence sterling or GBX when listing stock prices.
The pound sterling is the oldest currency in use[citation needed] and the third most traded currency in the world, after the US dollar and the euro.
2006-10-30 18:31:28
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answer #2
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answered by Inky Pinky Ponky 3
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Pound
2006-10-30 17:07:27
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answer #3
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answered by jeeps 6
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Pound
2006-10-30 16:49:33
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answer #4
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answered by Anonymous
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On earth, it represents British Sterling Pound. It is a symbol for british currency
2006-10-30 17:14:48
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answer #5
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answered by LemonPro 5
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It's the standard symbol for the representation of "Sterling pounds" as a monetary unit, which is used in Great Britain.
2006-10-30 19:18:30
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answer #6
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answered by bouncingtigger13 4
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Its the symbol for pound sterling the British currency. For example they use instead of $ which is dollars in USA
2006-10-30 16:52:44
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answer #7
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answered by nycgrl 2
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Pounds sterling - that's the British unit of currency.
2006-10-30 16:45:23
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answer #8
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answered by Lisa A 7
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English pound
2006-10-30 17:10:02
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answer #9
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answered by richard_beckham2001 7
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A fancy way to write the letter E. Actually it means Pound (currency in England, if I am correct.)
2006-10-30 16:52:29
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answer #10
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answered by ddnguyen9 3
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