British slang for a pound, Sterling. The Aussies and a few others have adopted the slangy nomenclature as well.
It derives from the Latin term, "Quo" for "What?" or "Say, what?" or "What you talkin' 'bout, Willis?" Something like that, anyway.
Started around the time King Henry started giving his wives really short haircuts.
![](https://media1.shmoop.com/images/finance-glossary/british%20pound.jpg)