The British pound, which is most commonly known as ‘pound sterling', constitutes the national currency of England, Scotland, Wales, and Northern Ireland, and a currency circulating alongside other money in the crown dependencies: Guernsey, Jersey, and the Isle of Man. The pound sterling is also legally accepted for payment in the British overseas colonies: Falkland Islands, Gibraltar, St. Helena, Ascension, and Tristan da Cunha.
Most British colonies have their own currency notes; however, their value is pegged to the pound at a rate of 1:1.
Only a short time ago, the Bank of England issued new polymer currency notes. They have a longer lifetime compared to the paper money, and, most importantly, are more resistant to dirt. The best thing about these currency notes is their polymer structure, which keeps money safe from moisture, sweat, and dirt.