Manx Pound (IMP)

Basic Concepts of the Manx Pound

The Manx Pound is the legal tender in circulation in the Isle of Man, United Kingdom, with the ISO 4217 code IMP. It is equivalent to the British Pound and is used in circulation alongside the British Pound in the region.

Countries and regions of use

The Manx Pound circulates mainly in the Isle of Man, a British Crown Dependency between England and Ireland. Despite its equivalence to the pound, the Manx Pound has independent circulation rights in the region.

Units and Denominations

The monetary units of the Manx Pound are the pound and the penny, with 1 pound equaling 100 pence. Banknote denominations include 1, 5, 10, 20, and 50 pounds, while coins are available in 1, 2, 5, 10, 20, and 50 pence as well as 1 and 2 pound denominations.

Historical Background

The history of the Manx Pound dates back to the 19th century, when the Isle of Man began issuing its own currency, and after the decimalization of the British currency in 1971, the Manx Pound became equivalent to the Pound Sterling and remains so today. Its design often incorporates elements of local culture, such as the three-legged man coat of arms.