How much is 1 pence in US dollars?

Excuse me, could you please clarify for me the current exchange rate between one British penny, or pence as it's sometimes referred to, and the United States dollar? I'm trying to make a financial calculation and need to know the precise amount that one pence translates to in USD. Is there a specific formula or online tool that you recommend for staying up-to-date with these types of conversions? Thank you for your assistance.