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Quick Answer. Like the rest of the United Kingdom, the currency used in Scotland is the British pound. Scottish banks do print their own version of the pound, which are called Scottish notes. These notes are widely accepted across the United Kingdom but may be denied in rare cases. One pound is made up of 100 pence.
The pound sterling, or just pound, is the basic unit of currency in England, as the dollar is in America. Pennies are referred to by the plural term pence, but the conversion is the same: 100 pence makes one pound. Currency in England leans more toward coins than bills, as there are 1-, 2- and even 5-pound coins.