What currency is GBP?

GBP is the official currency of the United Kingdom, as well as several other territories and regions including the Isle of Man, the Channel Islands, and certain British Overseas Territories. It is commonly used in international finance and trade, and is one of the world's major reserve currencies. The symbol for the British pound is £, and it is often referred to as "sterling" in financial markets. The pound is subdivided into 100 smaller units called pence. In the world of finance, GBP is widely traded on the foreign exchange market and is a key currency in international transactions. Its value fluctuates against other major currencies such as the US dollar, euro, and Japanese yen, and is influenced by a variety of economic and geopolitical factors. The Bank of England is responsible for issuing and regulating the currency, and its monetary policy plays a significant role in determining the value of the pound. Overall, GBP is a crucial component of global finance and is closely monitored by investors, economists, and policymakers around the world.