Pound sterling

High school (ages 12+)
People & Society

Name:

Date:

Step 1 · Read the article

Open the article and read it at the level above. Then answer the questions below in your own words.

https://smallwhale.org/articles/pound-sterling

Write what each word means, using the article.

Do not copy the article. Write two things you learned, the way you would explain them to a friend.

Answers below are taken from the article’s stored facts, so they match what the student read.

1. Who wrote Pound sterling?Bank of England
2. What is the associated territories using sterling?Nine
3. What is the global reserve currency status?Fourth-most-held reserve currency globally (as of late 2022)
4. How old is the pound sterling?The pound started more than a thousand years ago, in Anglo‑Saxon England, as a weight of silver. It has survived wars, revolutions, and still exists today.
5. Why can banks in Scotland and Northern Ireland issue their own pound notes?The Bank of England is the main bank that prints pound notes, but banks in Scotland and Northern Ireland can also print their own. Their notes are backed by the bank that prints them and are worth the same as Bank of England notes.

Special Drawing Rights (SDR): An international reserve asset created by the IMF to supplement the official reserves of member countries.
Monetary Policy: Actions undertaken by a central bank to manipulate the money supply and credit conditions to stimulate or restrain economic activity.
Liquidity: The ease with which an asset can be converted into cash without affecting its market price.