Difference between Dollar and Pound

Key Difference: Dollar is a currency that is used in many western countries and is represented by the ‘$’ sign. Dollar is the common currency of countries such as Australia, Belize, Canada, Hong Kong, Namibia, New Zealand, Singapore, Taiwan, Zimbabwe, Brunei and the United States. Pound is a unit of currency used by many central countries such as Great Britain, Egypt, Lebanon, Sudan and Syria. Though other central countries do not use the term pound, their currency has the same history. The term pound was used to signify the weight of silver.

Dollar and Pound are two different currencies that are used around the world. These two currencies are different from each other and also are worth different. A pound has a more monetary value compared to a dollar. These currencies usually determine the value of a note or a coin. This paper of coin is backed by the government and is considered as promissory note of paying a certain amount. The value of the currencies differs depending on the market value of the currency as well as the money in the treasury of the country.

Dollar is a currency that is used in many western countries and is represented by the ‘$’ sign. Dollar is the common currency of countries such as Australia, Belize, Canada, Hong Kong, Namibia, New Zealand, Singapore, Taiwan, Zimbabwe, Brunei and the United States. One dollar is usually worth 100 cents. The term ‘dollar’ comes from Bohemia during the 1520, when the country started minting coins from silver in Joachimsthal. The coin was called ‘Joachimsthaler’, which was shortened to thaler or taler. This was further incorporated into many different languages and was adapted in English as ‘dollar’ from the Dutch ‘daler’. The United States adopted dollars following the American Revolution, when Spanish dollars had gained quite significance in the country’s trade. The dollar sign has developed from the sign for the Spanish peso, which was marked as p^s, which was later developed by writing the S over the p, which created a symbol similar to $ and this was then incorporated as the official symbol of the currency.

Pound is a unit of currency used by many central countries such as Great Britain, Egypt, Lebanon, Sudan and Syria. Though other central countries do not use the term pound, their currency has the same history. The term pound was used to signify the weight of silver. Pound was used by Great Britain to weigh the silver that was used in each coin or currency. The word ‘Pound’ itself has been derived from the Latin word ‘Libra’, which was a unit of account of the Roman Empire. Britain adapted the word pound from the word ‘Libra’ is which pound (mass) has the initials lb. Great Britain wasn’t the only country to adapt the word Libra, French adapted it to ‘livre’, Italian to ‘lira’ and the Portuguese still use ‘libra’. Many countries which used ‘pound’ before have changed the names to other currencies. In Britain, each pound is equivalent to 100 pence. The symbol for pound is ₤.

One pound and one dollar are not considered to be same value. Each Great Britain Pound is considered almost 1.2 times the value of an American Dollar. However, these change depending on the market value of the money. Each Dollar is not equal to each other. Similarly, each pound is also not equal to one another. It is best to do a day to day conversion of the money using many sources available.

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