General Information » Money » Local Currency

Although the UK is a member of the European Union, the country has retained the pound sterling and pence as its unit of currency rather than committing to the euro. One hundred pence make one pound sterling (£1). Coins come in denominations of £2, £1, 50p, 20p, 10p, 5p, 2p and 1p, while paper notes come in denominations of £5, £10, £20 and £50. The different notes are quite similar in size and appearance, so be careful. It’s not very common to have a £50 note, so they are often scrutinised when you use them. Scottish banks issue their own notes, but they are valid in England.

Something that costs £1.50 is often described as being ’one fifty’ rather than ’one pound fifty’.