The primarily used currency in the United Kingdom is the British Pound Sterling, symbolized by £ and often abbreviated as GBP (Great British Pound). It is one of the oldest currencies still in use today and has a rich history, with its origins dating back over a thousand years. The pound is subdivided into 100 pence. The currency is managed by the Bank of England, which plays a critical role in setting interest rates and controlling inflation. The British Pound is a significant global currency, used in various international transactions and holding considerable influence in foreign exchange markets.