- A common slang term for the British Pound Sterling currency also often used by professional forex traders to refer to millions of units of that currency. For example, another professional dealer might ask a Cable market maker for a price in ten quid, meaning that they require a two way dealing exchange rate for an amount of ten million Pounds Sterling quoted against the U.S. Dollar.
- noun a pound sterling. The word was first used to refer to a guinea, then a sovereign, later to the sum of one pound. The origin of the word (it arose in the 17th century) is obscure. Partridge suggests ‘what’ (quid in Latin) as a synonym for ‘wherewithal’. An equally plausible derivation is from quid pro quo, alluding to the words on older banknotes, ‘I promise to pay the bearer the sum of…’.
- acronym forquantitative ingredient declaration (written as QUID)
Origin & History of “quid”
English has two words quid. The colloquial term for a ‘pound’ appears to be the same word as Latin quid ‘something’, and may have been inspired by the expression quid pro quo (16th c.), literally ‘something for something’. Quid ‘piece of chewing tobacco’ (18th c.) is a variant of cud.