Penny sterling

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The penny sterling (plural pence, abbreviation p) is a subdivision of pound sterling, the currency for the United Kingdom. It is currently 1100 of a pound, but historically was 1240 of a pound (old penny sterling). Its name is carried by the present British penny.

Stocks are often traded in pence rather than pounds. Stock exchanges often use GBX (or GBp) to indicate that this is the case for the given stock rather than the ISO 4217 currency symbol GBP for pound sterling.

See also[edit]

Preceded by
Old pence sterling
Subunit of Pound sterling
1971-present
Succeeded by
Current