The British pound sterling, often simply called the pound, is the official currency of the United Kingdom and several of its territories. It is symbolized by "£" and is subdivided into 100 smaller units called pence. The pound is one of the oldest currencies still in use today, with a history dating back over 1,200 years. The pound sterling is issued by the Bank of England, which is responsible for maintaining its value and stability. It is widely used in international trade and is considered one of the major currencies in the world, alongside the US dollar and the euro.