GBP (Great Britain Pound)

Before World War II British pound sterling (GBP) was the world’s leading currency. During a period between two world wars pound started to lose ground and yield to US dollar after World War II mostly because of economic sufferings during war time, secondly because people’s faith in pound was shaken by German counterfeiters’ actions during war.

As of today there are about 50% of all transactions on London market are done with pound and about 14% on global market. British pound is very dependent on the labor market conditions, inflation and oil prices. The other designations of GBP are “pound” or “cable”. The last word used to define telegraph – the fastest means of transferring data between America and England with transatlantic underwater cable.