Which currency is used in the United Kingdom?

The currency used in the United Kingdom is pound sterling, commonly called the British pound.

Sterling’s international currency code is GBP, and its symbol is £. The pound is divided into 100 pence. Banknotes commonly encountered in the UK include £5, £10, £20 and £50 notes, while the Royal Mint issues coins from 1p through £2.

A common mix-up is treating “pound” and “sterling” as separate currencies. In ordinary speech, “the pound” means the pound sterling, while “sterling” identifies the currency more precisely among the world’s other pound-named currencies. The UK’s Crown Dependencies and some overseas territories issue their own notes or currencies, but many are sterling or are fixed to sterling.

Banknote issuance is also more varied than visitors may expect. The Bank of England issues notes for England and Wales, while authorized commercial banks issue distinctive notes in Scotland and Northern Ireland. Those notes are generally exchangeable at face value, although acceptance can vary outside their issuing region.