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What is the actual value of the UK shares prices unit named “GBX”?
The currency unit “GBX” is used in the British stock market. So, for example, the price of one British Telecom.(BT) share is equal to ’268 GBX’. The question is : Does 1 GBX = 1 penny? or may be 10 pennies? or the real share value in the market is something else?
1 British pound (GBP) equals 100 sterling pence (GBX). Therefore, if British Telecom sells at 268 GBX, then it sells for 2.68 pounds. If a pound is the British equivalent of the US dollar (of course the exchange rate differs) then a pence is the British equivalent of the US penny.
Penny Stock Buyers Guide