The pound sterling, often called Pound with the symbol £; and ISO code GBP is the currency of United Kingdom. It is also the currency of its crown dependencies like Channel Islands, Isle of Man, South Georgia, British Overseas Territories and South Sandwich Islands. It is further subdivided into pence. 1 Pound is equivalent to 100 Pences (Penny is singular).

 
The Falkland Island Pound, Gibraltar pound, and Saint Helena pound are other currencies which are pegged to U.K currency.
It is important to remember that Euro is not much accepted currency in United Kingdom in comparison to GBP, known as Great British pounds. For current exchange values, click here

 
Pound Sterling is supposed to be the third-largest reserve currency after the US currency of Dollar and the European Euro. The pound sterling ranks fourth most-traded currency behind US dollar, Euro and the Japanese yen in the exchange market
 
Pound sterling (pounds sterling-pleural)) is being used in formal contexts and also to distinguish the U.K currency from the other currencies having the same name.  In other situations Pound is used normally. The currency is shortly known as Sterling in the wholesale financial markets.
In less formal contexts the term British pound is used. The Pound sign is currency sign updated to one cross bar instead of two cross bars originally. The pound is highest valued unit of currency in world and its value fluctuates with the exchange rates on day to day basis. It is the most freely bought and sold currency in foreign exchange market.
 
Sterling is a reserve currency and ranks third in amounts which are held as reserves globally. The total percentage which makes the reserves, Pounds account for good percentage because of the stability of U.K Government and its economy. The value of the pound has increased relatively to other currencies showing its strong impact on global financial market.
 

It is important to remember that Euro is not much accepted currency in United Kingdom in comparison to GBP, known as Great British pounds. For current exchange values, click here