The venerable British pound
Sep 26, 2022
An ex-British colony launched a currency during the 19th century. The US dollar referenced the British currency in the sense of being valued at a ratio of approximately five-to-one. In other words, two hundred years ago the pound was worth about five dollars.
The value of a national currency, broadly speaking over time, tends to reflect the status of the national economy.
Unsurprisingly, the pound has, broadly speaking over time, fallen and fallen and fallen. It is now worth about one dollar. It has fallen by a factor of five over the last two hundred years.
Quite a fall from grace.
https://www.politico.com/magazine/story/2014/08/the-sad-end-of-the-british-empire-110362/
