10 Differences Between Pound and Quid that You Should Know
It will be very handy to know the differences between Pound and Quid. The currency of Great Britain is the British pound, alternatively referred to as Pound Sterling, which people commonly call Quid. As you read on, we will be showing you some differences between them.
Differences Between Pound and Quid
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 terms ‘quid’ and ‘pound’ are used interchangeably.
To better understand the difference, recall that in Britain, “Quid” is to “Pounds” what “Buck” is to “Dollars” in America. It’s typical that when an American says ‘100 bucks,’ it is understood as ‘100 dollars,’ and the same applies to “Quid” in Britain.
It is also just like saying ’10 grand,’ which means ‘10,000 dollars.’ ‘Grand’ means ‘bag of money.
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What You Should Know About the 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 the 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, even though there are numerous nations across the country have a pound being used, that isn’t the pound sterling.
It will be appropriate to refer 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 Japanese Yen.
Other than names like GBP and Sterling for the Pound Sterling, this currency is often called the British Pound.
However, on the other hand, the name Sterling attached to this currency name differentiates it from the other types of pound currencies in practice across the globe.
What You Should Know About the 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.
Here, let’s clarify that the term ‘Quid’ can be attributed to any of the pounds, but it is most fundamentally used for the Pound Sterling, as this word is said to be of British origin.
People often mistakenly assume that ‘Quid’ is a currency from a distant country. However, this concept is entirely wrong as it is a slang word used for the Pound.
Many believe that the term ‘quid’ is derived from the Latin word ‘quid pro quo,’ which means ‘something for something.’
Nevertheless, ‘quid’ is the slang or informal word used in place of the Pound, just like ‘bucks’ are used as slang for the currency, the Dollar.
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Notable Distinctions Between Pound and Quid
1. The Pound Sterling is the official currency of the United Kingdom and its crown dependencies.
However, 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.
However, 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 called the British Pound. Contrary to this, the 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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CSN Team.
