When visiting London, it's helpful to know a bit about UK currency and how it works. Take a look at our guide on the British pound, from where to buy it to how to spend it.
British pound coins in a pile
Pound coins are part of the UK's currency denominations. Image courtesy of iStock images.
The UK currency is the pound sterling (/GBP).


There are 100 pennies, or pence, to the pound.

There is no change to the UK currency following the referendum vote to leave the EU.

Familiarise yourself with British currency with the following traveller information.

There are 100 pence (p) to the pound (). Notes come in denominations of 5, 10, 20 and 50. Coins come in 1p, 2p, 5p, 10p, 20p, 50p, 1 and 2.

Currency exchange in London
The pound is generally a stable currency. Following the recent referendum vote to leave the European Union, the UK continues to use the pound, and you can exchange currency as usual. Find the current exchange rates in your currency.

There are numerous bureaux de change in London – often located inside banks, travel agents or Post Offices, as well as at London's airports and major train stations. It's worth shopping around to get the best deal – compare the exchange rates on offer and don't forget to ask about commission. A good tip is to ask how many pounds you will receive in total after all charges have been deducted.


You will usually hear British people say "pee" rather than pence, as in 50p (50 pee). More colloquially, a pound is known as a "quid", a five pound note is a "fiver" and a ten pound note a "tenner".