penny
noun [ C ]
uk/ˈpeni/ us MONEY abbreviation plural pence | pennies (also p)
the smallest unit of money used in the UK. There are 100 pence in one pound (= the currency of the UK):
a 20/50p piece
Shares in the rival group are up 7 pence at 638p.
MONEY plural pennies
in the US and Canada, a cent (= one hundredth of a dollar)
used in expressions to refer to a very small amount of money:
We have never taken a penny of aid from federal government.
If you pay it back within six months, you won't pay a penny in interest.