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The British Pound - Sterling
The British Pound is arguably one of the worlds oldest currencies. For thousands of years people have bartered and exchanged goods and forms of currencies have been in existence for a long time, but effectively the British pound was a forerunner of established currency. The British Empire stretched across the globe over a hundred years ago. Many trading partnerships evolved then are still in existence today.
This is one of the many reasons that the UK has not adopted the euro, as have most European Union member states. Britain has always been a trading nation, importing and exporting worldwide, and continues to do so today. She has many key marketplaces and the exchange rates for the pound against these currencies are critical to companies in the UK.
The pound euro rate or euro pound rate has taken over from many of Britain's older currency exchanges. Whilst countries in the eurozone compete on a level playing field, the UK can make gains and losses in the currency markets. The UK has always had a lot of interests in the USA and again the Pound dollar rates and dollar pound rates are important.
Other trading partners that impact the UK economy are based on the old empire. The Pound against Australian Dollar and Australian Dollar pound exchange rates, the Pound against South African Rand, the pound against the New Zealand Dollar rates , the pound against the Indian rupee are just some of the old established currency trades that continue today.
The British Pound against the US Dollar exchange rate is as important today as it was in yesteryear. The sterling dollar rate is a measure of the strengths of the two economies and the pound dollar rate measures if the pound is strong or weak against the dollar. Obviously the pound exchange rate is measured against many other worldwide currencies such as the pound yen rate, the pound Swedish krona or the pound Dirham rate.