The currency used in United Kingdom is called as the Pound. This currency is denoted with the currency sign £ and the ISO 4217 Code for the British Pound is GBP.
The Pound, is the official currency of the United Kingdom . It is divided into 100 smaller units called Penny.
The constitution of United Kingdom provides that the United Kingdom government shall have the power to print the British Pound and Penny coins to be used as a legal tender in United Kingdom.
The British Pound bank notes and Penny coins are both designated as "legal tender" in payment of debts.
The British Pound bill uses the decimal system, consisting of 100 equal units.
The symbol £
, usually written before the numerical amount, is used for the British Pound.
Currently printed bank notes denominations are £5, £10, £20, £50
and the coins are minted in the denominations of 1p, 2p, 5p, 10p, 20p, 50p, £1, £2 .