Pound notes are mainly issued by the Bank of England. In addition, many banks in Scotland and Northern Ireland also issue pounds at the same time, but the design patterns and denomination configurations are different. Internationally, the British pound settlement generally only recognizes the Bank of England version. In China, foreign currency exchange banks do not exchange or accept British pounds issued by banks other than the Bank of England.
After the release of the new version of the British pound, the old version of the pound with the same face value will generally stop circulating soon. However, the Bank of England accepts people to exchange old banknotes for new ones indefinitely. Even the British pound issued hundreds of years ago, the Bank of England will unconditionally convert it into a new version of banknotes after confirming that it is genuine.
Extended data:
The pound is the name of the national currency and monetary unit in Britain. Sterling is mainly issued by the Bank of England, but there are also other issuers. The most commonly used symbol for the pound is. The currency code of ISO 42 17 adopted by the International Organization for Standardization is the pound. In addition to Britain, the currencies of British overseas territories are also denominated in British pounds, and the exchange rate with British pounds is fixed at 1: 1.
As Britain is the earliest industrialized country in the world and once dominated the international financial industry, the pound was once the most widely used currency in international settlement business. After World War I and World War II, Britain's economic status has been declining, but due to historical reasons, Britain's financial industry is still very developed, and the pound still occupies a very high position in the settlement of foreign exchange transactions. The pound is printed with donation figures and royalties.
Baidu Encyclopedia-GBP