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English definition of “penny”

penny

noun [C]     /ˈpeni/
(plural pence, pennies) abbreviation (also p) MONEY 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.
(plural pennies) MONEY 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.
(Definition of penny noun from the Cambridge Business English Dictionary © Cambridge University Press)
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