The British unit of currency is the pound sterling (£).
The United Kingdom is one of several European countries that opted out of adopting the euro (and, in 2016, infamously voted to "Brexit" or leave the E.U. entirely).
The British unit of currency remains the pound sterling (£).
Roughly speaking, US$1 equals 70p; or £1 equals US$1.45.
You can learn the current daily exchange rate with the curency converter links listed to the right or below, or look in the business section of any major newspaper.
Pounds and pence
Bills come in denominations of £5, £10, £20, and £50.
A pound is divided into 100 pence, often called "pee" (p).
British coins include 1p, 2p, 5p, 10p, 20p, 50p, and everybody's favorite: the thick, weighty, golden £1 coin.
(Note, in September, 2016 they introduced a new, polymer £5 note. Though they kept the old blue-green color scheme, the design has changed—and the feel—and they replaced Elizabeth Fry on the back with a dour-looking Winston Churchill. The old fivers will still be valid until May 2017.)
We're going to need a bigger wallet
British pound notes—especially the £20—are notably larger than most other bills and bank notes in Europe and North America.
They are actually a bit wider than your typical (non-British) slim wallet, which can cause a bit of a problem, as the edge will just barely peek out, apt to get torn and frayed.
Mot folks simply fold £20 notes into thirds instead, and file them into their wallets sideways. This makes the wallet thicken quickly, but is the best solution.