Great British Pound
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|The Great British Pound|
The Great British Pound (symbol: £; ISO code: GBP), also known as pound sterling (plural: pounds sterling) or commonly pound (plural: pounds), is the local currency of the United Kingdom.
The pound has always been decimalised, with each pound being subdivided into 100 pence (singular: penny; symbol: p).
A common slang term for the currency is quid (singular and plural, except in the common phrase "Quids in!"). The etymology of the term is unknown, although it might derive from the Latin 'quid' and is widely speculated to come from the Latin phrase "quid pro quo" (meaning "what for what" indicating a more-or-less equal exchange or substitution of goods or services).