The pound sterling (£) is the official currency of the United Kingdom (UK) and its Crown dependencies. It is also the official currency in three British Overseas Territories.

The pound sterling is the world's oldest currency still in use, dating back to the pound in Anglo-Saxon England.

History Edit

The United Kingdom joined the European Communities in 1973, which eventually transformed into a membership of the European Union in 1993 with the ratification of the Maastricht Treaty. The Treaty contained an opt-out as negotiated by the United Kingdom.

Over the years, there would be a push from liberals for the UK to adopt the Euro.[1][2] Opinion polls have shown that the British people didn't want this and still don't.[3][4]

In 2016, the value of the pound dropped significantly after the results of the referendum on leaving the European Union were released,[5] as leading British banks were planning to relocate due to the people voting for a free, independent United Kingdom.[6]

References Edit

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