When the people of Great Britain exchange money for goods or services, they will often refer to the value of a pound note as a quid.
even though centuries earlier a quid referred to a sovereign, the most important gold coin in history.
One pound is equal to one hundred pence.
When exchanged for something of equal value the deal in Latin is quid pro quo, something for something, which when abbreviated becomes simply quid.
That’s why an English pound sterling is called a “quid”.