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10 Differences Between Pound and Quid that You Should Know

Filed in Education by on July 21, 2021

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Differences Between Pound and Quid: The British pound is the currency of Great Britain. It is alternatively referred to as Pound Sterling. This is the financial term used to represent cash. This article makes visible the line of distinction between the Quid and the Pound Sterling.

Informally, the Pound sterling is referred to as ‘quid‘. In a case where some should say ‘100 pounds’, they say ‘100 quids.’ The term ‘quid’ has been used a long time ago already;

however, these days people are getting confused as to when and how the term ‘quid’ and ‘pound’ are used interchangeably.

To better understand the difference, recall that  “Quid” is to “Pounds” what “Buck” is to “Dollars” It’s typical that when an American says ‘100 bucks,’ it is understood as ‘100 dollars’, same applies to “Quid” in Britain.

It is also just like saying ’10 grand,’ which means ‘10,000 dollars.’ ‘Grand’ means ‘bag of money.

Pound

The Pound is the official currency of the United Kingdom and other regions under it. When the word ‘Pound’ is used in the United Kingdom, it vaguely refers to Pound Sterling and The Great Britain Pound, which are the official names of this currency practice in the area.

In other words, we can say that the pound sterling is the money of the United Kingdom, despite the fact that there are numerous nations across the country have a pound being used, that isn’t the pound sterling.

It will be appropriate to make reference to, here that most noticeably; there are four sorts of pounds, which are used in various parts of the world.

According to recent reports, the GBP is the 4th most traded currency after the U.S. Dollar, Euro, and the Japanese Yen. Other than names like GBP and Sterling for the Pound Sterling, this currency is often referred to as the British Pound.

On the other hand, the named Sterling attached to this currency name differentiates it from the other types of pound currencies in practice across the globe.

Quid

Quid

You probably might have heard the expression ‘make a quid’ and wondered what it means. It simply refers to the Pound Sterling. The term Quid is the slang or the casual term used for the Pound.

It ought to be clarified here that, the term Quid can be ascribed to any the pounds, yet most fundamentally it is utilized for the Pound Sterling as this word is said to be of the British inception.

It’s not rare for people to assume that Quid is a currency from a faraway country, but this concept is entirely wrong as it is a slang word used for the Pound.

It’s is popularly believed that the term quid is derived from the Latin word ‘quid pro quo,’ which means ‘something for something.’

However, quid is the slang or the informal word used in place of the Pound, like the word bucks are used as slang for the currency, Dollar.

Notable Distinctions Between Pound and Quid

1. The Pound Sterling is the official currency of the United Kingdom and its crown dependencies. On the other hand, Quid is the slang or the informal word used for the Pound.

2. The Pound is derived from the Latin word ‘Libra,’ which means the currency of ancient Rome. On the other hand, the term quid is derived from the Latin word ‘quid pro quo,’ which means ‘something for something.’

3. Quid is an informal way to refer to the Pound sterling. It is to “Pounds” what “Buck” is to “Dollars”

4. Other than names like GBP and Sterling for the Pound Sterling, this currency is often referred to as the British Pound. Contrary to this, Quid itself is the other name of the Pound.

5. Quid doesn’t have a plural expression. No matter the amount involved it is ‘quid’.

Example: You will have to pay me 10,000 quid.

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