Why have any doubt man, the British pound is on the gold standard.
RE: Why have any doubt man, the British pound is on the gold standard.
In 1914, the U.K. stopped following the gold standard because of World War I. Winston Churchill brought the British pound back to the gold standard in 1925, but the country once again dropped it in 1931.
In 1971, the U.K. allowed the value of the British pound to float. This means that, instead of pegging its value to gold or other currencies like USD, the government allows the market to decide the value of the United Kingdom’s currency.
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