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pound


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1 (£) The standard monetary unit of the UK, divided into 100 pence. It dates back to the 8th century ad when Offa, King of Mercia, coined 240 pennyweights of silver from 1 pound of silver. When sterling was decimalized in 1971 it was divided into 100 newly defined pence. The pound is also the currency unit of the Falkland Islands (Fk£), Gibraltar (Gib£), the Channel Islands, and the Isle of Man. See also punt.

2 The standard monetary unit of Egypt (LE), Lebanon (LL), and Syria (LS), divided into 100 piastres.

3 (£C) Formerly, the standard monetary unit of Cyprus, divided into 100 cents. Cyprus adopted the euro in 2008.

Subjects: Financial Institutions and Services.


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