Which is the oldest currency

The oldest still traded currency in the world and its origin and history

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At 1200 years old, the British pound is the oldest still traded currency in the world. It is the currency of the United Kingdom, the Isle of Man and the Channel Islands.

The currency symbol, which represents the pound, can, like all other currency symbols, be placed in front of or after an amount of money. The pound sterling is one of the most important currencies in the world, alongside the yen and the US dollar.

Events surrounding the British pound

The official pound banknotes have been around for 300 years. In 1694 the Bank of England was established. At first the banknotes were handwritten and were not printed until a later date. The bills were numbered, but counterfeiters made life difficult for the Bank of England. So the banknotes were provided with watermarks. These can still be seen on the banknotes to this day.

The wars against Napoleon in 1793-1815 were a major drag on British finance. These wars, as well as a series of bankruptcies, forced the Bank of England to issue the first £ 5 note.

The British public has asked for gold coins to replace the worthless paper bills. So it came about that the gold reserves also began to shrink. Banknotes printed in 1 and 2 pound notes were reintroduced.

The notes that were printed in Black & White, i.e. in black and white, were produced for the last time in 1956 and since 1957 both sides of the note have been printed in multiple colors.

The banknotes of the currency are only available in four different notes. Five, ten, twenty and fifty pound notes are used to this day, while the euro, for example, has seven different banknotes.

The exact name of the British pound

The English pound is officially "Pound Sterling" or British pound and is marked with the ISO number 4217 GBP. The abbreviation stands for "Great Britain Pound". The currency is marked with the £ symbol. The British pound is used and recognized worldwide and has been an official means of payment since 1694.

The best place to change money

If you want to change a currency in order to receive pounds, you should do so at your home bank or in the exchange offices in England. These always offer the current rate and this is the cheapest way to change. But you can also get an up-to-date and affordable rate at the changing machines. The easiest but rather inconvenient thing to do is to change at the airport, as 2.5% is required for the change.