What is the official currency of the United Kingdom?

Correct option is A

Correct Answer: (a) Pound Sterling

Explanation:
The official currency of the United Kingdom (UK) is the Pound Sterling (£, GBP). It is one of the world’s oldest currencies still in use, dating back to the 8th century. The Bank of England (BoE) is responsible for issuing and regulating the Pound Sterling.

The currency is widely used across the UK, including England, Scotland, Wales, and Northern Ireland. However, Scotland and Northern Ireland issue their own banknotes, which are legally valid but may not always be accepted outside their respective regions.

The Pound Sterling is a major global currency and is one of the top-traded currencies in the foreign exchange (forex) market, alongside the US Dollar, Euro, and Japanese Yen.

Information Booster:
● The symbol of Pound Sterling is £, and its ISO code is GBP (Great British Pound).
● £1 = 100 pence, and the UK uses denominations such as £5, £10, £20, and £50.
● The Pound Sterling is not part of the Eurozone, as the UK chose to retain its own currency instead of adopting the Euro.
● Bank of England (BoE) manages the currency's stability, interest rates, and inflation policies.
● The Pound Sterling is one of the strongest and most stable currencies globally.

Additional Knowledge:

• (b) Yen: Incorrect; Yen (¥, JPY) is the official currency of Japan.
• (c) Dollar: Incorrect; the US Dollar (USD) is used in the United States, and several other countries also use different versions of the dollar.
• (d) Euro: Incorrect; the Euro (€) is the official currency of the Eurozone, used by 19 European Union (EU) member countries, but the UK never adopted it