The pound, often referred to as the British pound or pound sterling, is the official currency of the United Kingdom. Its symbol is £, and it 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 is widely used in international trade and is considered one of the major currencies in the world. It is issued by the Bank of England, which regulates its supply and value. The exchange rate of the pound can fluctuate based on economic conditions and market demand.