List of British currencies

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A variety of currencies are tender in the United Kingdom, its overseas territories and crown dependencies. This list covers all of those currently in circulation.

LocationNative currencyIssuing authority

Sterling

Bank of England

Local, privately-issued sterling banknotes

Issued by license of the Bank of England to Scotland's three largest clearing banks (the Royal Bank of Scotland, the Bank of Scotland and the Clydesdale Bank)

Local, privately-issued sterling banknotes

Issued under a licence of the Bank of England to four retail banks  : Bank of Ireland, First Trust Bank, Danske Bank (formerly Northern Bank) and Ulster Bank. [1]

Jersey pound (local, government-issued sterling banknotes and coins)

Issued by license of the Bank of England to the Treasury and Resources Department, States of Jersey [2]

Guernsey pound (local, government-issued sterling banknotes and coins)
Alderney pound (local, government-issued commemorative coins)

Issued by license of the Bank of England to the Treasury and Resources Department, States of Guernsey

Manx pound (local, government-issued sterling banknotes and coins)

Issued by license of the Bank of England to the Isle of Man Treasury

Falkland Islands pound (parity with pound sterling)

Government of the Falkland Islands

Gibraltar pound (parity with pound sterling)
Euro accepted unofficially in most establishments

Government of Gibraltar

Saint Helenian pound (parity with pound sterling)
(US$ accepted in Ascension Island)

Government of Saint Helena

United States dollar (de facto) [3] [4]
Sterling (de jure) [5] [6] [7]

US Federal Reserve System

United States dollar
Bahamian dollar also accepted in the Turks and Caicos Islands

US Federal Reserve System

Eastern Caribbean dollar (2.7EC$=1US$)

Eastern Caribbean Central Bank

Bermudian dollar (parity with United States dollar)

Bermuda Monetary Authority

Cayman Islands dollar (1KY$=1.2US$)

Cayman Islands Monetary Authority

New Zealand dollar
US dollar widely accepted [8]
Pound sterling is also accepted.
[9]
Pitcairn Islands dollar (on par with New Zealand dollar; commemorative issue only)

Reserve Bank of New Zealand

Euro

European Central Bank

Related Research Articles

The Eastern Caribbean dollar is the currency of all seven full members and one associate member of the Organisation of Eastern Caribbean States (OECS). The successor to the British West Indies dollar, it has existed since 1965, and it is normally abbreviated with the dollar sign $ or, alternatively, EC$ to distinguish it from other dollar-denominated currencies. The EC$ is subdivided into 100 cents. It has been pegged to the United States dollar since 7 July 1976, at the exchange rate of US$1 = EC$2.70.

<span class="mw-page-title-main">Coins of the pound sterling</span> British current and historic coinage

The standard circulating coinage of the United Kingdom, British Crown Dependencies and British Overseas Territories is denominated in pennies and pounds sterling, and ranges in value from one penny sterling to two pounds. Since decimalisation, on 15 February 1971, the pound has been divided into 100 (new) pence. Before decimalisation, twelve pence made a shilling, and twenty shillings made a pound.

<span class="mw-page-title-main">British Antarctic Territory</span> British Overseas Territory

The British Antarctic Territory (BAT) is a sector of Antarctica claimed by the United Kingdom as one of its 14 British Overseas Territories, of which it is by far the largest by area. It comprises the region south of 60°S latitude and between longitudes 20°W and 80°W, forming a wedge shape that extends to the South Pole, overlapped by the Antarctic claims of Argentina and Chile. The claim to the region has been suspended since the Antarctic Treaty came into force in 1961.

<span class="mw-page-title-main">British Overseas Territories</span> Territories under UK sovereignty

The British Overseas Territories (BOTs) are the 14 territories with a constitutional and historical link with the United Kingdom that, while not forming part of the United Kingdom itself, are part of its sovereign territory. The permanently inhabited territories are delegated varying degrees of internal self-governance, with the United Kingdom retaining responsibility for defence, foreign relations and internal security, and ultimate responsibility for good governance. Three of the territories are chiefly or only inhabited by military or scientific personnel, the rest hosting significant civilian populations. All fourteen have the British monarch as head of state. These UK government responsibilities are assigned to various departments of the Foreign, Commonwealth and Development Office and are subject to change.

A dependent territory, dependent area, or dependency is a territory that does not possess full political independence or sovereignty as a sovereign state and remains politically outside the controlling state's integral area. As such, a dependent territory includes a range of non-integrated not fully to non-independent territory types, from associated states to non-self-governing territories.

<span class="mw-page-title-main">Administrative geography of the United Kingdom</span> Geographical subdivisions of local government in Great Britain and Northern Ireland

The administrative geography of the United Kingdom is complex, multi-layered and non-uniform. The United Kingdom, a sovereign state to the northwest of continental Europe, consists of England, Northern Ireland, Scotland and Wales. For local government in the United Kingdom, England, Northern Ireland, Scotland and Wales each have their own system of administrative and geographic demarcation. Consequently, there is "no common stratum of administrative unit encompassing the United Kingdom".

<span class="mw-page-title-main">Pound sterling</span> Currency of the United Kingdom

Sterling is the currency of the United Kingdom and nine of its associated territories. The pound is the main unit of sterling, and the word pound is also used to refer to the British currency generally, often qualified in international contexts as the British pound or the pound sterling.

<span class="mw-page-title-main">Banknotes of the pound sterling</span> Promissory notes denominated in pounds sterling

The pound sterling is the official currency of the United Kingdom, Jersey, Guernsey, the Isle of Man, British Antarctic Territory, South Georgia and the South Sandwich Islands, and Tristan da Cunha.

The Crown Dependencies are three offshore island territories in the British Islands that are self-governing possessions of the British Crown: the Bailiwick of Guernsey and the Bailiwick of Jersey, both located in the English Channel and together known as the Channel Islands, and the Isle of Man in the Irish Sea between Great Britain and Ireland.

<span class="mw-page-title-main">Australian pound</span> Former currency of Australia

The pound was the currency of Australia from 1910 until 14 February 1966, when it was replaced by the Australian dollar. Like other £sd currencies, it was subdivided into 20 shillings, each of 12 pence.

The Bermudian dollar is the official currency of the British Overseas Territory of Bermuda. It is subdivided into 100 cents. The Bermudian dollar is not normally traded outside Bermuda, and is pegged to the United States dollar at a one-to-one ratio. Both currencies circulate in Bermuda on an equal basis.

<span class="mw-page-title-main">Territorial evolution of the British Empire</span> Changes in the extent of the British Empire over its history

The territorial evolution of the British Empire is considered to have begun with the foundation of the English colonial empire in the late 16th century. Since then, many territories around the world have been under the control of the United Kingdom or its predecessor states. When the Kingdom of Great Britain was formed in 1707 by the union of the Kingdoms of Scotland and England, the latter country's colonial possessions passed to the new state. Similarly, when Great Britain was united with the Kingdom of Ireland in 1801 to form the United Kingdom, control over its colonial possessions passed to the latter state. Collectively, these territories are referred to as the British Empire. When much of Ireland gained independence in 1922 as the Irish Free State, the other territories of the empire remained under the control of the United Kingdom.

<span class="mw-page-title-main">United Kingdom and the euro</span>

The United Kingdom did not seek to adopt the euro as its official currency for the duration of its membership of the European Union (EU), and secured an opt-out at the euro's creation via the Maastricht Treaty in 1992, wherein the Bank of England would only be a member of the European System of Central Banks.

<span class="mw-page-title-main">British Indian Ocean Territory</span> British Overseas Territory in the Indian Ocean

The British Indian Ocean Territory (BIOT) is an Overseas Territory of the United Kingdom situated in the Indian Ocean, halfway between Tanzania and Indonesia. The territory comprises the seven atolls of the Chagos Archipelago with over 1,000 individual islands, many very small, amounting to a total land area of 60 square kilometres. The largest and most southerly island is Diego Garcia, 27 square kilometres, the site of a Joint Military Facility of the United Kingdom and the United States. Official administration is remote from London, though the local capital is often regarded as being on Diego Garcia.

<span class="mw-page-title-main">Saint Helena, Ascension and Tristan da Cunha</span> British Overseas Territory in the South Atlantic Ocean

Saint Helena, Ascension and Tristan da Cunha is a British Overseas Territory located in the South Atlantic and consisting of the island of Saint Helena, Ascension Island, and the archipelago of Tristan da Cunha. Its name was Saint Helena and Dependencies until 1 September 2009, when a new constitution came into force, giving the three islands equal status as three territories, with a grouping under the Crown.

The United Kingdom possesses a number of islands in the South Atlantic Ocean and claims a section of the Antarctic continent. These territories are St. Helena with Ascension Island and Tristan da Cunha, the Falkland Islands, South Georgia and the South Sandwich Islands, and the UK's claimed Antarctic territory, called the British Antarctic Territory. The official currency in these territories is either Pound sterling or a local currency that evolved from sterling and is at a fixed one-to-one parity with sterling.

<span class="mw-page-title-main">Index of United Kingdom–related articles</span>

The following is an alphabetical list of articles related to the United Kingdom.

<span class="mw-page-title-main">CANZUK</span> Proposed international alliance

CANZUK is an acronym for a proposed alliance comprising Canada, Australia, New Zealand and the United Kingdom as part of an international organisation or confederation similar in scope to the former European Economic Community. This includes increased trade, foreign policy co-operation, military co-operation and mobility of citizens between the four states, tied together by similar economic systems, social values and political and legal systems, in addition to the majority population of each country speaking English. The idea is lobbied by the advocacy group CANZUK International and supported primarily by conservatives. Other supporters include think tanks such as the Adam Smith Institute, the Henry Jackson Society, Bruges Group and politicians from the four countries.

Same-sex marriage has been legal in the British Indian Ocean Territory since 3 June 2014. An Order in Council to legalise same-sex marriages was enacted by the Privy Council of the United Kingdom on 28 April 2014, and took effect on 3 June. The British Indian Ocean Territory, despite having no permanent population, was among the first British Overseas Territories to legalise same-sex marriage.

References

  1. "Current Banknotes". The Association of Commercial Banknote Issuers. Archived from the original on 13 September 2017. Retrieved 27 April 2013.
  2. "Government of Jersey".
  3. "Country Profile: British Indian Ocean Territory (British Overseas Territory)". Foreign, Commonwealth and Development Office . Archived from the original on 7 November 2009. Retrieved 10 June 2024.
  4. "The World Factbook". Archived from the original on 12 June 2007.
  5. "British Indian Ocean Territory Currency". wwp.greenwichmeantime.com. 6 March 2013. Retrieved 28 April 2013.
  6. Anderson, Joel. "Unusual Coins". Archived from the original on 28 December 2010. Retrieved 10 June 2024.
  7. "Home". BIOT Post Office . Archived from the original on 10 September 2011. Retrieved 10 June 2024.
  8. "Archived copy" (PDF). Archived from the original (PDF) on 9 May 2016. Retrieved 30 April 2016.{{cite web}}: CS1 maint: archived copy as title (link)
  9. Asia & Pacific Review 2003/04: The Economic and Business Report. 2003. p. 245. ISBN   9781862170391.

See also