GBP Currency Symbol (£), Code & Meaning — British Pound Guide
The British Pound (GBP) is the official currency of the United Kingdom. Its symbol is £, its ISO 4217 code is GBP, and it is issued by the Bank of England.
What is GBP?
GBP is the ISO 4217 currency code for the British Pound, also known as pound sterling. It is the official currency of the United Kingdom — covering England, Scotland, Wales and Northern Ireland — as well as several Crown Dependencies and British Overseas Territories.
The currency symbol is £. One pound is divided into 100 pence (p). Banknotes and coins are issued by the Bank of England, which also sets UK monetary policy.
GBP at a Glance
The six core facts people search for, answered directly.
GBP symbol
£
The pound sign, derived from the Latin libra.
GBP currency code
GBP
ISO 4217 three-letter code; numeric code 826.
GBP full form
Great British Pound
Also called pound sterling in financial markets.
UK currency name
Pound sterling
The official currency of the United Kingdom.
Subunit
100 pence
One pound (£1) is divided into 100 pence (p).
Issuing authority
Bank of England
Plus authorised issuers in Scotland and Northern Ireland.
British Pound: Key Facts
Every official reference for the UK currency in one place.
| Official name | Pound sterling |
|---|---|
| Common name | British Pound, sterling, quid |
| ISO 4217 code | GBP |
| ISO numeric code | 826 |
| Currency symbol | £ |
| Subunit | 100 pence (p) |
| Issuing authority | Bank of England |
| Countries using GBP | United Kingdom, Jersey, Guernsey, Isle of Man, Gibraltar, South Georgia |
| Most traded pairs | GBP/USD (Cable), GBP/EUR, GBP/JPY |
| Reserve status | Top 5 global reserve currency |
GBP is the official currency of the United Kingdom.
GBP Currency Code Explained
ISO 4217 code: GBP
GBP is the three-letter ISO 4217 code used globally to identify the pound sterling on SWIFT payments, forex platforms and accounting systems. The first two letters — “GB” — refer to Great Britain, and the final “P” stands for Pound.
Some older systems still use the informal abbreviation STG or £, but GBP is the modern standard.
Numeric code: 826
The ISO 4217 numeric code for pound sterling is 826. Numeric codes are used where alphabetic codes cannot be entered — for example in card transaction data or certain banking systems.
Together, GBP and 826 uniquely identify the currency worldwide, preventing confusion with the Egyptian pound (EGP), Syrian pound (SYP) or other sterling-named currencies.
What Does GBP Stand For?
GBP stands for Great British Pound. The official name of the currency is pound sterling — which is why you often see the two terms used interchangeably in news reports, trading platforms and bank statements.
The pound is one of the world’s oldest currencies still in active use, with origins tracing back to Anglo-Saxon England more than 1,200 years ago. The name “sterling” itself refers to the silver standard once used for English coinage.
Which countries use GBP?
Pound sterling is legal tender in:
United Kingdom
England, Scotland, Wales and Northern Ireland.
Crown Dependencies
Jersey, Guernsey and the Isle of Man issue their own local pound notes pegged 1:1 to GBP.
Overseas Territories
Gibraltar, South Georgia, the British Antarctic Territory and Tristan da Cunha.
British Pound Banknotes and Coins
Banknotes
Bank of England polymer notes are in circulation in four denominations:
Modern notes are printed on polymer for durability and security. Scotland and Northern Ireland have additional note designs from authorised commercial bank issuers.
Coins
The Royal Mint produces eight circulating coin denominations:
100 pence equal one pound. The £1 coin was redesigned in 2017 with a 12-sided bimetallic format.
Who Issues the British Pound?
The Bank of England is the central bank of the United Kingdom and the primary issuer of GBP banknotes. It also sets UK interest rates through its Monetary Policy Committee (MPC), directly influencing the value of the pound against other currencies.
In Scotland, three commercial banks are authorised to issue pound sterling notes: the Bank of Scotland, Royal Bank of Scotland and Clydesdale Bank. In Northern Ireland, four banks hold this right: Bank of Ireland, Danske Bank, Ulster Bank and AIB.
All of these notes represent the same currency — pound sterling — and are fully backed by the Bank of England.
Most Traded GBP Currency Pairs
GBP is one of the most actively traded currencies on the global forex market. These are the pairs our clients convert most often:
Rates displayed on our converter pages reflect the live mid-market rate. Your transfer rate will include a small, transparent margin quoted upfront.
Sending or Receiving GBP? Your Options
If you’re moving pounds across borders — for property, business, payroll or personal reasons — a currency specialist will almost always beat a high-street bank on both rate and service.
For individuals and expats
We regularly handle GBP transfers for UK property purchases, emigration, inheritance, pension transfers and second-home payments. You get a named account manager and a live quote — no app-only guesswork.
For businesses and directors
Supplier payments, payroll, invoices in foreign currencies and ongoing FX exposure — we handle all of it by phone with tailored guidance. Forward contracts available to lock in GBP rates up to 12 months ahead.
FCA-Authorised. Trusted for Larger Transfers.
Cambridge Currencies is authorised and regulated by the Financial Conduct Authority (FCA reference 900170).
British Pound (GBP) — Frequently Asked Questions
What is the GBP currency symbol?
The GBP currency symbol is £. It represents the British Pound, the official currency of the United Kingdom. The symbol derives from the Latin word libra, meaning pound — the “L” was historically drawn with a horizontal line through it to indicate it stood for a unit of currency.
What is the GBP currency code?
The ISO 4217 code for the British Pound is GBP. Its numeric code is 826. GBP stands for Great British Pound and is used globally on financial systems, SWIFT payments and forex platforms.
What does GBP stand for?
GBP stands for Great British Pound, also known as pound sterling. It’s the official currency of the United Kingdom — England, Scotland, Wales and Northern Ireland — as well as Jersey, Guernsey, the Isle of Man, Gibraltar and several British Overseas Territories.
What currency does the UK use?
The United Kingdom uses the pound sterling, abbreviated GBP and shown with the £ symbol. This applies to England, Scotland, Wales and Northern Ireland. The UK does not use the euro.
Who issues the British Pound?
The Bank of England issues British Pound banknotes for circulation in England and Wales, and sets UK monetary policy. In Scotland (Bank of Scotland, RBS, Clydesdale) and Northern Ireland (Bank of Ireland, Danske, Ulster, AIB), specific commercial banks are also authorised to issue pound sterling notes.
Is pound sterling the same as GBP?
Yes. Pound sterling is the official name of the currency, while GBP is its ISO 4217 code. Both refer to the same currency. “Sterling” is often used in financial markets; “pound” or “GBP” is more common in everyday use.
What is the subunit of the British Pound?
The subunit is the penny, abbreviated p. One pound equals 100 pence. Coins are minted in denominations of 1p, 2p, 5p, 10p, 20p, 50p, £1 and £2.
Why is the pound called “sterling”?
“Sterling” refers to the historic silver standard used for English coinage. One pound originally represented a pound weight (by mass) of sterling silver — hence “pound sterling”. The name stuck even after the UK moved off the silver and gold standards.
How do I get a better GBP exchange rate on a large transfer?
For larger GBP transfers, a specialist currency broker such as Cambridge Currencies typically offers a tighter margin than a high-street bank — often saving 3–5% on the conversion. You can also use forward contracts to lock in a rate up to 12 months ahead, or split the transfer across multiple dates to average your exposure.
Can I fix a GBP rate for a future payment?
Yes. A forward contract lets you lock in today’s GBP exchange rate for settlement on a future date — typically up to 12 months ahead. This is commonly used by property buyers with completion dates, or businesses with upcoming supplier payments. Request a quote to discuss.
Moving a larger amount of GBP?
Speak to a dedicated currency specialist — no app, no guesswork.