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Quick Answer. About.com reports that the legal currency in London is the pound sterling. The official London visitor's site notes that despite being a member of the European Union, the United Kingdom does not use the Euro as standard currency. Continue Reading.
As near as I can figure out, the unit of British currency is the pound (sterling). The pound is sub-divided into 100 Pence. One penny is the lowest unit available. Coins are available in 1 penny, 2 pence, 5 pence, 10 pence, 20 pence and 50 pence. There are also the pound coin and the two pound coin.Notes are available in 5 pounds, 10 pounds, 20 pounds (there is also a new 20 pound note) and 50 pound notes.s near as I can figure out, the unit of British currency is the pound (sterling). The pound is sub-divided into 100 Pence. One penny is the lowest unit available. Coins are available in 1 penny, 2 pence, 5 pence, 10 pence, 20 pence and 50 pence. There are also the pound coin and the two pound coin.