GBP

Before World War I, the British pound (GBP) was the leading world currency. During the interwar period the pound started to lose its influence. Because of, first of all, the harsh economic situation after World War II and secondly, the loss of trust in this currency after repeated cases of fraud, the US dollar took the place of the British pound.

Now up to 50% of transactions executed on the London market are carried out in British pounds while worldwide this is the currency of 14% of transactions. The British pound is influenced by the labor market, by inflation in the UK and by oil prices. The British pound is also known as cable for in earlier days the transatlantic underwater cable was the swiftest way of sharing data between America and Europe.