In the UK, all transactions are made in Pound and Pence. So, know what is GBP, where to convert, what is the exchange rate for British pound currency
British pound currency is seen in the UK in the form of Coins & Notes
UK Coins – 1p, 2p, 5p, 10p, 20p 50p, 1pound and 2pound
UK Notes – 5 Pound, 10 Pound, 20 Pound and 50 Pound
There are 100 Pence to a Pound. Most vending machines take the 10p, 20p, 50p and 1 Pound coin. Some accept the 5p coin and hardly any accept 1p or 2p coins.
Beware of fake notes specially 20 Pound & 50 Pound note
Fake British Pound Note & how to detect a counterfeit note
You need to be careful about taking 20 Pound and 50 Pound notes. 5 Pound note is comparatively safer to take.
All notes have a watermark and a very fine metallic strip on or in them. Hold the notes up to the light to detect the counterfeit note. Please visit the Bank of England guideline.
Todays Exchange rate to British Pound Sterling
Select the amount of money (1) & your country currency (2). It will show you the converted British Pound Sterling. You may also check the rate using xe.com.
Exchange rate helps you to prepare London travel cost budget
Where to convert your currency in London
Change your currency to British Pound Currency at the Banks, Post Office or Currency Exchange House. You will find most of them open all days except Saturday & Sunday. Post Offices & Exchange houses usually open on Saturday. Closing times vary to location & types of providers.
What is GBP, Symbol, history of UK currency
Literally GBP stands for Great Britain Pound but its official name is British Pound Sterling commonly British Pound symbolically the pound sign (£).
GBP is the oldest currency in the world. It became the official currency of the UK in 1707 when England and Scotland united to form a single country. But, the British pound was first introduced as a form of money in the year 760.
British Pound Currency: Quid, Pony or Monkey
The slang term for a British pound is a Quid. It derived from the Latin expression “quid pro quo,” which means “one thing in return for another.” during the Roman occupation of Britain (in the 1st to 5th century AD).
There are other slang terms for various amounts of money like a Monkey is 500 Pounds, a Pony is 25 Pounds.
Travel Tips: 1 Pound coin
Always keep some coins especially 1 Pound Coin.