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The pound is the official currency of the United Kingdom. The pound is represented by the symbol £ and the currency code GBP. The UK includes England, Scotland, Wales and Northern Ireland.
Don’t forget, the Republic of Ireland uses the euro so if you’re planning to cross from Northern Ireland to Ireland or vice versa, you’ll need two currencies.
| Country | The United Kingdom |
| Official Currency | Great British Pound |
| Currency Code | GBP |
| Currency Symbol | £ |
| Banknote Denominations | £5, £10, £20 and £50 |
| Coin Denominations | 1p, 2p, 5p, 10p, 20p, 50p, £1 and £2 |
| In Stock | Yes |
| Current Rate | 0.4988 |
From October 1, 2022 paper banknotes in £20 and £50 denominations will not longer be used in the UK.
The British currency system used the pound as the base unit, which is made up of 100 pence (usually just referred to as ‘pee’).
British coins are circulated as 1p, 2p, 5p, 10p, 20p, 50p, £1, and £2. All coins in Scotland are issued by the Royal Mint, so their designs match coins found everywhere else in the UK.
Scottish banknotes
Scottish banknotes come in denominations of £5, £10, £20, £50, and £100. A rare £1 note is also still used in circulation.
Three Scottish retail banks – the Bank of Scotland, the Royal Bank of Scotland, and Clydesdale Bank – issue their own notes with their own designs.
While these Scottish notes are usually accepted throughout the United Kingdom, they’re not technically official legal tender in England or Wales. You shouldn’t have trouble using them but shops outside Scotland aren’t obligated to accept them.
Most British banks will exchange Scottish pounds for English ones free of charge. Meanwhile, you’ll have no problem using English banknotes anywhere in Scotland, so it’s always best to use your Scottish notes first!
The British pound is accepted as currency in the following countries:
- England
- Scotland
- Wales
- Northern Ireland
In addition it is accepted in the British Antarctic Territory, the British Indian Ocean Territory, South Georgia and the South Sandwich Islands. The British pound is not accepted in the Republic of Ireland, as the Euro is the offical national currency.
