What is difference between euro and pound?

Answer 1

In everyday life, we often hear about the two popular currencies Euro and Pound. Right from the country of origin, the exchange rates and symbols of these two currencies are entirely different. Euro is the term used to specify the currency of European Union countries. The countries are Belgium, Spain, Vatican City, Martinique, Germany, Finland, and the like. This currency is now being used globally owing to its exchange rate and economy of the countries to which it belongs. It is the only used currency of the 16 European Union member states. These member states together contribute the Euro Area or the Eurozone. Pound or British pound is the currency of Great Britain. There is one more term which refers to this currency. It is Pound Sterling. This is the financial term used to represent the currency. This currency is used in the countries of United Kingdom, Channel Islands, and Isle of Man. Sometimes pound is also known as United Kingdom Pound. The symbol of Euro is € and the abbreviation is EUR. The symbol of Pound is £ and the abbreviation is GBP. This refers to the term Great Britain Pound. Some other abbreviations used to denote the currency are UKP, GBR, UK, and STG. A Euro is made up of 100 cents while a Pound is made up of 100 pence. The symbol of a penny is "p" and an amount like 40 pence is pronounced as forty pee. So the basic unit of Euro is cent and that of Pound is pence. Both Euro and Pound have a conversion factor of six significant digits. The cents of Euro are issued as coins.