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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.
Money Quiz The British currency is the pound sterling. The sign for the pound is GBP = Great British Pound We do not use the Euro. Although a few of the big shops will accept Euro, it is rarely used across Britain.Since decimalisation in 1971, the pound has been divided into 100 pence.he singular of pence is  penny . The symbol for the penny is  p ; hence an amount such as 50p is often pronounced fifty pee rather than fifty pence. We have both coins and banknotes. Current coins are : 1 penny, 2 pence, 5 pence, 10 pence, 20 pence, 50 pence, 1 pound, and 2 pounds.