Currency

Currency

Although the UK is in the European Union, it has taken the decision at the moment not to adopt the Euro as its currency. Instead it retains pound sterling.

A pound consists of 100 pence. The word ‘pence’ being very often shortened to the letter ‘p’ in both the written and in conversational form.

The following coins are in regular circulation:

• 1p
• 2p
• 5p
• 10p
• 20p
• 50p
• £1
• £2

The following notes are also used:

• £5
• £10
• £20
• £50

These notes are usually issued in the name of the Bank of England and the notes and coins are accepted throughout the UK. You may occasionally find some bank notes bearing the names of Banks in Scotland or Northern Ireland, like the Scottish notes shown here. These are still legal tender throughout the UK but some traders, because they are not familiar with them, may be reluctant to accept them outside of the country in which they were issued. If you do have any difficulties though, any Bank will replace them without charge.