The British Pound, officially known as the pound sterling, abbreviated GBP for Great British Pound, is the official unit of currency used in the United Kingdom. The sign for the pound is £ (or rarely, just "L"). Both symbols derive from libra, the Latin word for "pound". The pound sterling is one of the world's most widely traded currencies, along with the United States dollar, the Japanese yen, and the euro. It is the highest valued of the major currency units.