The choice of currency is one of the biggest economic decisions that would need to be made if Scotland was independent, central to the long-term success of the Scottish economy.
The Scottish Government has stated that its preferred currency arrangement for an independent Scotland is a pound sterling monetary union with the rest of the UK. However, the UK Government has ruled out this option if Scotland became independent.
This briefing outlines the main currency options for an independent Scotland, the advantages and challenges associated with each option and key considerations that should be taken into account when assessing the options.
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Published: 6 March 2014