The currency in the United Kingdom is known as the British pound sterling, often simply referred to as the pound. Its symbol is "£," and it is subdivided into 100 pence (singular: penny). The pound has a rich history, being one of the oldest currencies still in use today. It is considered one of the major world currencies, widely traded on foreign exchange markets. The Bank of England is responsible for issuing banknotes and managing monetary policy associated with the pound. The currency is crucial for economic stability and plays an integral role in international trade.