Name: United States dollar
Minor Unit: 1/100 Cent
Central Bank: Federal Reserve Bank
Country(ies): United States, American Samoa
Rank in the most traded currencies: #1
Name: Pound sterling
Minor Unit: 1/100 penny
Central Bank: Bank of England
Rank in the most traded currencies: #4
The US dollar and British Pound are two of the top four most traded currencies in the world. According to the Bank of International Settlements, an average of over five trillion USD and GBP are traded on a daily basis.
The US dollar is sometimes referred to as the greenback, while the British Pound is also referred to as the Pound Sterling or Sterling.
The USD is issued by the Federal Reserve Bank, which is the central bank of the United States of America. It is the official currency of the USA. The GBP is issued by the Bank of England, which is the central bank of England. It is the official currency of England.
The most commonly used denominations of USD that are issued are $1, $5, $10, $20, $50, while for the GBP they are £5, £10, £20, £50. The smallest unit of the US dollar is called a ‘cent’, while for the Pound, the smallest unit is called a ‘penny’.
Both the USD and GBP enjoy a low inflation rate of 0.10%.