The term British Currency refers to the official currency of the United Kingdom, which is the POUND STERLING (also known as the POUND or GBP). The POUND STERLING is the oldest currency still in use today and is divided into 100 pence. It is the fourth most traded currency in the world and is also used in many other countries, including the British Overseas Territories. The POUND is symbolized by the £ sign and is abbreviated as GBP.