Thursday, 2 June 2011


by Simón
In UK the oficial currency is a pound, 1 pound is 1,14 euros. Sterling is the fourth most traded currency in the foreign exchange market, after the US dollar, the euro and the Japanese yen.
Since decimalisation in 1971, the pound has been divided into 100 pence. The symbol for the penny is "p"; hence an amount such as 50p (£0.50) properly pronounced "fifty pence" is more colloquially, quite often, pronounced "fifty pee". This also helped to distinguish between new and old pence amounts during the changeover to the decimal system. A decimal halfpenny was issued until 1984. Prior to decimalisation, the pound was divided into 20 shillings and each shilling into 12 pence, making 240 pence to the pound. The symbol for the shilling was "s."

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