Currency

More than just a currency, the U.S. dollar ($) is an institution. Currently printed banknote denominations are $1, $2 (rarely used), $5, $10, $20, $50, and $100. All the banknotes are of the same size but now most of them have a different coloured background for each denomination. Coin denominations are 1 cent, 5 cents, 10 cents, 25 cents and 50 cents. Each coin has its own name but the most widely used coins are the penny (1 cent) and the quarter (25 cents). Check the current USD-GBP exchange rate on the internet before you leave. Banks are generally open Monday through Friday from 9 a.m. to 5 p.m. (6 p.m. on Fridays). However, it is not recommended to exchange money in banks. We recommend that you use prepaid credit cards or exchange British pounds before your departure. Another possibility is to use your credit card to withdraw money at ATM machines. It is highly recommended that you arrive with some American dollars in your pocket as tipping is a way of life and will be needed for taxi drivers/door men etc.