What Does Quid Mean?


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A quid is slang usage to denote a pound sterling, which is the official form of currency of Britain and its crown dependencies. The slang word 'quid' is derived from the phrase 'quid pro quo', and is commonly used in the United Kingdom, as the term 'buck' for a dollar in the United States of America.

The pound sterling is the formal full name of the currency however it is also referred to as just 'pound'. The full name is made use of in a formal manner of speaking when the context or environment demands it, or even when it is to be differentiated from other currency types.

After the Euro got adopted as the official currency, the pound sterling has become the oldest currency to be used. It is also ranks third in the most traded currencies in the world, following the US dollar and the Euro.

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