Pound sterling

Pound sterling is the name of the money used in the United Kingdom, like dollars in the USA. It's sometimes shown as GBP, which stands for Great Britain Pound. One pound is worth 100 pence (sometimes written as 'p'), and a penny is equal to one cent. You can use pound sterling to buy things like food and clothes in the UK, or you can exchange it for other currencies like euros or dollars if you go on holiday.