Ultimate Guide to London Currency


What currency is used in London?

The currency used in London and the United Kingdom is Pound Sterling, as of 2019 there are 4 banknotes in circulation which include £5, £10, £20 and £50 denominations. All of these notes feature an image of Queen Elizabeth II on one side with a historical figure on the other. The UK also used a selection of coins which are called pence and 100 pence is equal to 1 pound (think cents and dollars)

  • The official UK currency is the pound sterling
  • There are 100 pennies, or pence, to the pound

British Coins

The current coins used in London are the 1 pence (penny), 2 pence, 5 pence, 10 pence, 20 pence, 50 pence, £1 and £2. Like Australia the £1 and £2 pound coins replaced the equivalent pound banknotes. Each of the coins has a design on 1 side and the portrait of the Queen on the other.

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Bank of England £5 Note

The British £5 Note (Fiver) was updated in 2016 and is made of a new polymer material similar to Australian banknotes. The design features Winston Churchill standing in front of a view of the Palace of Westminster with the Queens image on the reverse side and the note is blue and green.

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Bank of England £10 Note

The British £10, known as a Tenner was also replaced in 2017 with a new polymer version, the design of this new note is brown and orange and features Jane Austen (from a portrait by James Andrews) and the Queen on the reverse.

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Bank of England £20 Note

The British £20 is still made using the old paper material and will be replaced in 2020 by a polymer version. The current design of this note features economist Adam Smith and the Queen on the reverse and is purple in color.

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Bank of England £50 Note

The British £50 is the highest denomination currently issued by the Bank of England (They do not have a £100 note) and is still made using the old paper material. The design of this note is predominately Red and Matthew Boulton and James Watt from the industrial revolution and the Queen on the reverse. At this stage this note is  not planned to be replaced making it only remaining paper note after 2020.

For more information on the Bank notes visit the Bank of England website.

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Currency Converter

If you are looking to convert some of your Australian Dollars (AUD) into British Pounds (GBP) you can use the calculator below to get an estimate of the amount you will receive. This is only an estimate as all banks will charge a conversion fee which is taken from the amount of Pounds you receive.

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