Which currency has been the United Kingdom’s monetary unit since the 8th century?

Pound sterling has been the United Kingdom’s monetary unit since the 8th century.

The pound developed from the silver penny introduced in Anglo-Saxon England. In the traditional English system, one pound equaled 20 shillings, and each shilling equaled 12 pence, making 240 pence per pound. The term “sterling” became associated with reliable silver coinage and later with British money generally.

The United Kingdom decimalised its currency on 15 February 1971, known as Decimal Day. Since then, one pound has been divided into 100 pence. Pound sterling is also used in some Crown dependencies, although places such as Jersey, Guernsey, and the Isle of Man issue their own local notes and coins alongside sterling.