Sterling definition
Sterling
Sterling is slang for the British pound sterling (GBP), the official currency of the United Kingdom. It is the fourth most traded currency and the third most popular currency to hold in foreign reserves. The pound sterling is the oldest currency to be in continuous use is represented by the symbol £.
The United Kingdom includes England, Scotland, Northern Ireland, and Wales which together make up the sixth-largest economy in the world. Main industries in the UK economy include construction, manufacturing, financial and business services, and tourism. Monetary policy regarding the pound sterling is overseen by the Bank of England.
What influences the sterling?
The pound sterling is influenced by the same factors that affect most currencies: monetary policy, price inflation, trader and investor sentiment, and economic growth.