Pounds sterling (GBP) is the official currency of the United Kingdom, but pence are often used when trading stocks.
The pound (£) is made up of 100 pence (p) exactly like the dollar is split into 100 cents. So the value of 300p (GBX) or £3 GBP in USD is $4.32; current value of 50 pence is 0.72 USD.
You can view the up to date GBP to USD exchange rates at Xe.com.
Current UK coins are:
1 penny, 2 pence, 5 pence, 10 pence, 20 pence, 50 pence, 1 pound, and 2 pounds.
With bank fees rising every year and exchange rates seemingly in constant flux, what's the best way to change your money? Check out 10 simple tips at Fodors.com.