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Pence sterling
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The penny sterling (plural pence) is a subdivision of Pound sterling, the currency for the United Kingdom. It is currently of a pound, but historically was of a pound. Its value is carried by the British one penny coin.
Stocks are often traded in pence rather than pounds and stock exchanges often use GBX to indicate that this is the case for the given stock rather than use the ISO 4217 currency symbol GBP for pounds sterling.
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