British Pound

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British Pound

The currency of the United Kingdom. It is the third largest reserve currency in the world. It traces its origins to Anglo-Saxon times and is the oldest currency still in use. It is issued by the Bank of England and the Bank of Scotland. Like most currencies, it was pegged to the U.S. dollar under the Bretton Woods System, but is now a floating currency. The pound did not use a decimal system for its subdivisions until 1971. See also: Decimalisation, Quid.
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Summary: A tumultuous week for financial markets left the highly risk-sensitive British Pound sharply lower through FridayEoe1/4aos close, and major Bank of England monetary.
The letter of intent contemplates that THK will acquire 51 percent of Crystal Reference Systems for an upfront consideration of 810,000 British Pounds in cash and THK common stock worth 90,000 British Pounds valued at the closing.
2) Exchange rate for restating ICL's revenues in US dollars: 1 British Pound = $1.

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