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Spain is a member of the so-called eurozone within the European Union. All eurozone member states use the euro as their currency. Like most modern currencies the euro is a decimal currency. It's divided into 100 euro cents; coins range in denomination from 1 euro cent to €2; bills go from €5 to €500. €200 notes are not commonly used and €500 notes are rarely seen in circulation.

Britain is a member of the EU but was not willing to enter the eurozone. It continues to use its traditional currency, the pound sterling (or simply "pound"). Between 1968 and 1971 England converted the pound to a decimal currency as well. The smallest unit is the penny (plural "pence" rather than "pennies") with £1 = 100p. Coins range from 1p to £2; bills are from £5 to £100, with the latter not used much.

Exchange valuesExchange rates change every day so any answer posted here would be out of date almost immediately. While it's not normal WikiAnswers policy to say "use the internet", that's the best approach in this case. You can check a site such as www.xe.com, CNNMoney, etc. for the latest conversion factors between the euro, the pound, and other currencies.
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