DEFINITION of 'Quid' Quid is a slang term for the pound sterling, or the British pound, the currency of the United Kingdom. A quid is equivalent to 100 pence, and it is thought to come from the Latin phrase "quid pro quo" meaning "something for something," or an equal exchange for goods or services.
Correspondingly, what is a quid in English money?
Pound: A pound was the basic unit of currency. It came in the form of a paper bill, called a note, or a gold coin, called a sovereign. The slang term for a pound is a quid and there are other slang terms for various amounts of money that a reader will come across in historical novels.
What is the difference between a quid and pound?
'Pound' is the currency of Britain and other European counties. 'Quid,' on the other hand, is just the slang term for 'pound.' Another slang for 'pound' is 'sterling' while 'quid' has other companions as slang for money like 'grand' and other terms.
Why do they call it a quid?
Its origin is uncertain, but it is believed that this term dates as far back as the Roman occupation of Britain (in the 1st to 5th century AD) and it may be derived from the Latin expression "quid pro quo," which means "one thing in return for another."