The name of the official currency in the UK (England, Scotland, Wales, and Northern Ireland) is pound sterling (symbol £, ISO code GBP). It is more commonly referred to as the pound.
There are 100 pence (p) in a pound.
Notes (bills) in common circulation are £5, £10, £20, and £50.
£5 notes are commonly referred to as ‘fivers’. £10 notes are called ‘tenners’.
Coins used are 1p, 2p, 5p, 10p, 20p, 50p, £1, and £2.
The £1 coin is known locally as a ‘quid’.
GBP Pound Exchange Rates
The pound is heavily traded on foreign exchange markets around the world. Its value compared to other currencies rises and falls.
Exchange rates between the pound (GBP) and a selection of world currencies are listed below.
Exchange rates on this page were last updated on .
European Countries
- Denmark – 1 Danish krone (DKK) = 0.113 GBP
- Eurozone – 1 euro (EUR) = 0.843 GBP
- Norway – 1 Norwegian krone (NOK) = 0.087 GBP
- Sweden – 1 Swedish krona (SEK) = 0.084 GBP
- Switzerland – 1 Swiss franc (CHF) = 0.79 GBP
- UK – 1 British pound (GBP) = 1 GBP
North American Countries
- Canada – 1 Canadian dollar (CAD) = 0.587 GBP
- Mexico – 1 Mexican peso (MXN) = 0.036 GBP
- USA – 1 US dollar (USD) = 0.726 GBP
Australasia/Pacific
- Australia – 1 Australian dollar (AUD) = 0.544 GBP
- New Zealand – 1 New Zealand dollar (NZD) = 0.52 GBP
South American Countries
- Argentina – 1 Argentine peso (ARS) = 0.007 GBP
- Brazil – 1 Brazilian real (BRL) = 0.13 GBP
- Columbia – 1 Colombian peso (COP) = 0.0002 GBP
Russia/CIS Countries
- Azerbaijan – 1 Azerbaijani manat (AZN) = 0.427 GBP
- Kazakhstan – 1 Kazakhstani tenge (KZT) = 0.002 GBP
- Russia – 1 Russian ruble (RUB) = 0.01 GBP
- Ukraine – 1 Ukrainian hryvnia (UAH) = 0.028 GBP
- Uzbekistan – 1 Uzbekistani som (UZS) = 0.0001 GBP
Asian Countries
- Afghanistan – 1 Afghan afghani (AFN) = 0.008 GBP
- Bangladesh – 1 Bangladeshi taka (BDT) = 0.008 GBP
- China – 1 Chinese yuan (CNY) = 0.114 GBP
- Hong Kong – 1 Hong Kong dollar (HKD) = 0.093 GBP
- India – 1 Indian rupee (INR) = 0.01 GBP
- Japan – 1 Japanese yen (JPY) = 0.006 GBP
- Malaysia – 1 Malaysian ringgit (MYR) = 0.175 GBP
- Pakistan – 1 Pakistani rupee (PKR) = 0.004 GBP
- Philippines – 1 Philippine peso (PHP) = 0.014 GBP
- Singapore – 1 Singapore dollar (SGD) = 0.539 GBP
- South Korea – 1 South Korean won (KRW) = 0.0006 GBP
- Sri Lanka – 1 Sri Lankan rupee (LKR) = 0.004 GBP
- Thailand – 1 Thai baht (THB) = 0.022 GBP
Middle Eastern Countries
- Bahrain – 1 Bahraini dinar (BHD) = 1.926 GBP
- Egypt – 1 Egyptian pound (EGP) = 0.046 GBP
- Iraq – 1 Iraqi dinar (IQD) = 0.0005 GBP
- Jordan – 1 Jordanian dinar (JOD) = 1.024 GBP
- Kuwait – 1 Kuwaiti dinar (KWD) = 2.409 GBP
- Lebanon – 1 Lebanese pound (LBP) = 0.0005 GBP
- Oman – 1 Omani rial (OMR) = 1.886 GBP
- Qatar – 1 Qatari riyal (QAR) = 0.199 GBP
- Saudi Arabia – 1 Saudi riyal (SAR) = 0.194 GBP
- Syria – 1 Syrian pound (SYP) = 0.001 GBP
African Countries
- Kenya – 1 Kenyan shilling (KES) = 0.007 GBP
- Nigeria – 1 Nigerian naira (NGN) = 0.002 GBP
- Tanzania – 1 Tanzanian shilling (TZS) = 0.0003 GBP
- South Africa – 1 South African rand (ZAR) = 0.049 GBP
- Sudan – 1 Sudanese pound (SDG) = 0.002 GBP
Changing Money
Foreign currency can be exchanged at many locations including banks, post offices, and bureaux de change.
Post offices offer good rates and charge no commission. Opening hours are limited.
Bureaux de change often offer longer hours and more convenient locations. Places where they can be found include major city centre train stations, airports, high streets, and shopping centres. Many M&S stores (a popular department store) also offer foreign exchange services.
Rates at bureaux de change can be less favourable and can often include commission. This is especially true at locations where there is less choice (e.g. airports). It’s always a good idea to shop around if possible.
Euro
The euro is not widely accepted in the UK.
Some large stores in major cities will accept euros. Most places do not.
Stores that do accept euros will only accept notes. Coins are not acceptable.
Banks
Retail banks in the UK include Barclays, Lloyds, HSBC, Santander, Nationwide Building Society, Halifax, TSB, and Royal Bank of Scotland. Generally speaking, all these will have a branch in any major town or city.
As more of their customers adopt online/mobile banking, banks are closing their smaller branches. Bank branch availability in villages and small towns is limited or nonexistent.
ATMs/Cash Machines
ATMs/cash machines/cashpoints are easily found in the UK. Common locations include banks, supermarkets, and petrol stations.
Finding a cash machine in the United Kingdom generally isn’t a problem. All are connected to LINK; the UK’s cash machine network. The LINK website offers an ATM location service.
Most international cards with a chip and PIN are accepted.
The ATM may add a charge for a cash withdrawal. A notice should be displayed on the terminal if this is the case. Your home bank could also add a fee for use of a foreign ATM.
To minimise fees, it is usually best to withdraw a few large amounts, rather than make numerous small withdrawals.
Despite the fees, cash withdrawals can work out cheaper than exchanging currency for pounds at bureaux de change.
Making a cash withdrawal using a credit card is not advisable. The fees tend to be higher. The withdrawal is also a loan and will incur interest charges.
Credit and Debit Cards
Credit and debit cards are widely accepted in most UK restaurants, hotels, and shops.
MasterCard and Visa are universally accepted.
Holder of certain credit cards, such as Diners Club and American Express, may experience difficulties.
Banks and credit card companies have anti-fraud measures in places. They frequently block cards when suspicious activity is detected.
Suspicious activity can include simply using your credit card in a foreign country. Most blocks of this nature can be avoided by contacting your bank or credit card company in advance and informing them of your travel itinerary.