Interesting facts about the GBPUSD (British pound to US Dollar)

The Great British Pound is the oldest currency with European roots in circulation. The Bank of England has been responsible for issuing the notes and coins for more than 300 years, but the story of the pound sterling began even further in the past, in 1489. In 1660, machinery minting was implemented to simplify coin production.

The price of GBP is quite high — the currency is the fifth most valuable in the world. The inflation rate in the UK is low. The country exports machinery, precious metals and minerals, pharmaceuticals, and many other things. These two factors make GBP one of the strongest currencies in the modern world. On Forex, 12,8% of daily trading is performed in GBP.

The US dollar is considered to be the most important currency in the world. You can’t imagine international trade and finance without USD. Many countries have an exchange regime of their own currency anchored to the US dollar.

The most valuable banknote ever known was a $10,000 note. We bet you have seen the famous phrase “In God We Trust.” It was first printed on coins during the American Civil War, and since 1955 you can find it on every coin.

Have you ever seen a “bison nickel” or a five-cent coin? The animal depicted on it was an actual bison living in the Bronx Zoo. In case you need to trace the serial number of a note, the website “Where’s George?” can help you. The two main materials used in USD production are linen (25%) and cotton (75%).

The GBP to USD is the oldest pair in Forex trading history. The GBP/USD rate may be referred to as the cable rate. In the 1880s, the first successfully functioning submarine telegraph cable was placed. It connected the United States and Great Britain.

The best time to trade the pair is during the European and American trading sessions, as well as well as from 15:00 to 19:00 (GMT+3, indicated in LiteFinance trading platform).