The British Pound Sterling (GBP) is the official currency of the United Kingdom and is an important global currency in financial markets. GBP is widely used in international transactions, both for trade and investment. It is used by global investors as a safe and stable currency for making investments in the United Kingdom. As a major currency, it is also used in currency pairs to speculate on the relative strength of different economies. In addition, GBP is used as a benchmark for other global currencies, providing stability and liquidity to the global financial markets.