Change Currency Format in Excel

Learn how to change the currency in Excel to pounds or other formats using simple steps.

How to Change the Currency in Excel (UK Guide)

Microsoft Excel is one of the most widely used tools for managing personal and business finances, and it’s essential that figures are displayed in the correct currency. Whether you’re tracking household expenses, preparing client invoices or building budgets for work, having Excel show amounts in British pounds—or any currency of your choice—helps avoid confusion and ensures professional presentation. This guide explains how to change the currency format in Excel, who it’s relevant for, and how to manage default settings across spreadsheets.

What Does Changing Currency in Excel Mean?

Changing the currency in Excel refers to formatting numbers so they appear with the correct currency symbol (like £, $, or €), and ensuring that they reflect local financial conventions (such as decimal points and comma placement). This change is purely cosmetic—it doesn’t convert values between currencies. For instance, switching from dollars to pounds won’t adjust the numerical values unless you use a currency conversion formula.

Who Should Change the Currency Format?

This is particularly useful for:

  • UK users receiving templates in US dollars or euros

  • Small businesses creating invoices or financial reports

  • Freelancers working with international clients

  • Students learning financial modelling

  • Anyone maintaining household or travel budgets

It ensures clarity and prevents misinterpretation—especially when dealing with mixed currencies.

How to Change Currency Format in Excel

Step 1: Select the Cells You Want to Format

Start by highlighting the cells that contain the numbers you want to format.

Step 2: Open the Format Cells Menu

Right-click on the selected cells and choose “Format Cells…”. You can also press Ctrl + 1 on your keyboard.

Step 3: Choose the Currency Format

In the Format Cells window:

  • Click on the “Number” tab

  • Select “Currency” from the list on the left

  • Choose £ English (United Kingdom) from the symbol dropdown

  • Click OK

Your selected cells will now display values with the pound symbol and two decimal places by default.

How to Set Currency Format as Default

If you use GBP frequently and want new workbooks to always default to it:

  1. Go to File > Options > Advanced

  2. Scroll down to “Editing options”

  3. Under “Use system separators”, check that decimal and thousands separators reflect UK standards (e.g. full stop for decimal, comma for thousands)

  4. Still under Options, go to “Advanced > When calculating this workbook”

  5. Choose the regional currency settings via Control Panel > Region Settings outside Excel

Note: Excel relies on your system’s regional settings. Changing your system’s region to United Kingdom via Windows settings will affect how Excel formats currency by default.

How to Use Other Currencies in Excel

To apply other currencies (e.g. euros or US dollars):

  • Follow the same Format Cells steps, but select a different symbol such as € or $

  • For more options, choose “More Accounting Formats” at the bottom of the Number Format dropdown on the Home tab

Excel also includes an Accounting format which aligns symbols neatly in a column, useful for financial reports.

Common Problems and Solutions

Problem: Pound sign not appearing

  • Check that you’ve applied the Currency format, not just set the cell to “General” or “Number”

  • Ensure the correct regional format is selected in Windows

Problem: Formula errors after currency change

  • Changing the currency format doesn’t affect formulas. If you need to convert amounts (e.g. USD to GBP), use a formula like =A1 * exchange_rate

Problem: Dates or text getting formatted as currency

  • Only apply currency formatting to numerical cells. Formatting a date or text string as currency will create errors.

Tips for Working with Multiple Currencies

If you’re dealing with multiple currencies in one sheet:

  • Use clear column headers (e.g. “Amount (GBP)” or “Amount (USD)”)

  • Apply colour coding or borders to visually separate currency types

  • Consider using Data Validation to limit user input errors

For live conversion rates, you can also use Excel’s WEBSERVICE or Power Query features to pull in exchange rates from financial data providers, though this may require more advanced setup.