The Pound is the money and currency used in London. The pound sterling (symbol: £; ISO code: GBP), commonly known as the pound is the official currency of the United Kingdom.. Less commonly referred to as Sterling and Pound Sterling.
The Bank of England is the central bank for the British pound, issuing its own coins and banknotes, and regulating issuance of banknotes by private banks in Scotland and Northern Ireland.
Banknotes issued in Scotland, Northern Ireland, Jersey and Guernsey are different designs to the bank of England’s. All the notes are technically acceptable in all of the UK. However in practice non English notes will often not work in London. Generally the Bank of England versions will be accepted everywhere. But the Non Bank of England notes will often only have recognition with retailers in the country they issued.
So it is practical when leaving Scotland, Ireland or the Channel Island for other parts of the UK to ask for your change in British notes not the local ones. Retailers and machines generally accept all the coin variations everywhere.
There are currently four denomination values of circulating Bank of England note: £5, £10, £20 and also £50. Every note has a unique serial number.
The current £5 and £10 notes feel plastic printed on polymer.
Our current £20 and £50 are printed on paper. Our next £20 note, to be issued in 2020, and will also be made from polymer. The Bank of England have not yet made a decision on the material for the next £50 note.
For more information visit the Bank Of England website.
The cost of a visit to London will vary. And depends of coarse on the habits and also tastes of the traveller. First class hotels, fashionable restaurants and taxis are expensive. However many of the popular sights are within walking distance of each other and free to see. And there are places to eat, drink and stay for all budgets.
Planning a trip to London then read our other guides to Life in London