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£700,000.45p.

However, because some browsers are unable to display the £ symbol correctly, and because there are a number of countries whose currency is also called the pound (but are not all of the same pound value), you are advised to use the international currency code (see link) - a three character prefix.

So, for pound Sterling, you should say GBP700,000.49p

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Q: How do you write seven hundred thousand pound and 49p?
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