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[The history of British finance and economics|Speak like a Londoner|The specifics of British money terms|Why is British money called pounds?]

The term "pound" comes from the Latin word libra, which was used to denote a unit of weight. The British pound sterling was originally a unit of account for silver, and it was equivalent to one pound weight of sterling silver. Over time, the term "pound" became associated with the currency itself, and it has been used to refer to British money ever since. The symbol for the pound — £ — is derived from the letter L, which was used to represent the Latin word libra.

[The history of British finance and economics|Speak like a Londoner|The specifics of British money terms|Why is British money called pounds?]

The Bank of England Museum is located in the heart of the City of London and offers a fascinating insight into the history of the Bank of England and the British monetary system. Visitors can explore a wide range of exhibits, including rare banknotes, coins, and artefacts dating back to the bank's founding in 1694. The museum also features interactive displays, multimedia presentations, and a unique opportunity to see the bank's gold vault.

[The history of British finance and economics|Speak like an Irishman|The specifics of British money terms|Why is British money called pounds?]

People in London have unique slang when it comes to money. For example, "quid" is a popular term for pounds, while "fiver" and "tenner" are used for five and ten-pound notes, respectively. "P" is slang for pence, and "bob" is an old-fashioned term for a shilling. Additionally, "cash" may be referred to as "dosh" or "moolah", and "wonga" is a slang term for money in general. Understanding these slang terms can help visitors navigate conversations about money while exploring the city.