The currency in the United Kingdom is the British pound sterling, often symbolized as "£" and abbreviated as GBP (Great Britain Pound). The pound is one of the oldest currencies still in use today, with roots tracing back to the Anglo-Saxon period. The currency is subdivided into 100 pennies (pence). The Bank of England, established in 1694, is responsible for issuing banknotes and managing the monetary policy of the UK. Despite any economic fluctuations, the pound remains a significant global currency, widely traded and recognized in international markets.