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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.
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.hile it is not an official currency in London, the city's status as both a financial center and a tourism center means that you will find places where it is accepted. If you have euro left over from traveling in the continent, you can either try to spend it or exchange it at a bank.