Word: pound
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Dates: during 1960-1969
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...crisis that forced Wilson to reshuffle his Cabinet was the third since the new government took over. First was the threatened devaluation of the pound, which stemmed from the chronic imbalance in Britain's foreign trade. Then there was the imbroglio over the controversial TSR-2 "Hedgehopper" bomber. Then came Leyton...
...week got some good news. The Board of Trade announced that Britain's trade gap narrowed by nearly half in December, to $171 million, as exports rose to a record and imports dipped. Any worsening of those figures would almost certainly have meant another strong attack on the pound and further weakening of confidence in the British economy...
...Dollar and the Pound Reserve Currencies...
...official: "We didn't plan it that way-it just happened." The strength of a country's currency depends upon its political, military and economic might. After the war, Europe's money was unstable and inconvertible-but the dollar could buy anything, anywhere. Britain's pound also weakened, but continued to be important because of Britain's worldwide banking and trading connections...
...Called "pound" because it was originally a pound of silver; the pound of silver then became known as "pound sterling" to distinguish it from ordinary units of weight. Now the two names are used interchangeably...