The street was originally known as Old Exchange. It was named after a building constructed in the 13th century for coining bullions, which is commemorated by a plaque in the gardens by St Paul's Cathedral. Edward Herbert, 1st Baron Herbert of Cherbury had a house with gardens adjacent to the street. The Church of St Augustine was on the corner of Old Change. It was rebuilt in the late 17th century by Christopher Wren following the Great Fire of London.
During the early 18th century, Old Change was inhabited by Armenian merchants who set up numerous silk and woollen warehouses.
Old Change was destroyed during World War II. A replacement street, New Change was built slightly to the east of this following the war. The church tower was restored and is now Grade I listed.
- Henry A Harben, 'Old Bethlem - Old Dog', in A Dictionary of London (London, 1918), British History Online http://www.british-history.ac.uk/no-series/dictionary-of-london/old-bethlem-old-dog [accessed 21 October 2020].
- Weinreb et al. 2008, p. 598.
- Walter Thornbury, 'Cheapside: Southern tributaries', in Old and New London: Volume 1 (London, 1878), pp. 346-353. British History Online http://www.british-history.ac.uk/old-new-london/vol1/pp346-353 [accessed 21 October 2020].
- Historic England. "Details from listed building database (1079121)". National Heritage List for England. Retrieved 21 October 2020.
- Weinreb et al. 2008, p. 577.
- Weinreb, Ben; Hibbert, Christopher; Keay, John; Keay, Julia (2008). The London Encyclopaedia (3rd ed.). Pan Macmillan. ISBN 978-1-405-04924-5.