The official currency in Wales is the British Pound Sterling (GBP). This is the same currency used throughout the United Kingdom, including Scotland, England and Northern Ireland. The pound is divided into 100 pence, and there are coins worth 1p, 2p, 5p, 10p, 20p, 50p, £1 and £2, as well as banknotes worth £5, £10, £20 and £50.