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London United Kingdom Banks and Currencies

London is one of the largest international financial centres, hosting headquarters of many international enterprises and banks. The London Stock Exchange is at the heart of global financial markets and is home to some of the best companies in the world. It operates financial transactions in almost all the countries of the world, including enormous investments in the EU, USA and rapidly developing Commonwealth countries. 

The currency of the UK is Ј (Pound) Sterling. There are 100 pence (p) to the Ј. Notes of the denomination of Ј50 (red), Ј20 (purple), Ј10 (brown), Ј5 (blue) are available and coins are Ј2, Ј1, 50 pence, 20 pence, 10 pence, 5 pence, 2 pence and 1 pence.
The UK has not, as yet, joined the European currency – the Euro, and it is not widely accepted.

The currency can be exchanged in bureaus de change and banks.  London banks generally offer the best rates of exchange; they're usually open Monday to Friday from 9:30am to 3:30pm, those in central streets often function till 5 pm. The travelers’ cheques have better rates of exchange, than cash, those in pounds are exchanged without commission. Private bureaus, found at small shops and in hotels, railway stations (including the international terminal at Waterloo Station), travel agencies, and airports, can charge high service fees, so the visitors should examine the terms carefully, as there is no consumer organization, controlling the activities of privately run bureaus. The most reputable exchange facilities are American Express, Thomas Cook, Chequepoint.

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