Recognize and trade the British pound, the highest valued currency in the worldThe British pound, the official currency of Great Britain, is one of the most traded currencies in the world, along with the dollar, the yen and the euro. In seeking British pound information and rates, look for the symbol £. The currency is also referred to as the pound sterling and, informally, as the quid. Divide the pound into 100 pence, or pennies.
When getting into currency exchange with the British pound, keep in mind this British pound information:
- The United Kingdom is one of the largest economies in the world. The nation wavers between the fourth and fifth rank, depending on what information you're looking at.
- The United Kingdom is among the last of Western Europe's major countries that have not yet adopted the use of the euro.
- The United Kingdom economy boasts low unemployment rates with strong wages. The economy has also been described as one of strong growth.
- The value of the British pound goes hand-in-hand with the nation's export markets, which affect British pound exchange rates. Major exported goods include manufactured goods, metals, motor vehicles and textiles, among others.
Keep current on British pound exchange rates with Internet resources
Learn more about British pound tradingExchange trading is not for casual investors. Many online currency trading services offer resources to help you master the learning curve.
Practice trading the British pound for freeMany different online services provide practice accounts where you are allotted hypothetical trading money. See how you would fare at British pound trading before doing it for real.
- Some online services with British pound swap trading offer no commission or transaction fees. However, be aware that most no-fee programs require a minimum account balance or minimum trades per month.
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