Convert Gibraltar Pound to British Pound Sterling
Please provide values below to convert Gibraltar Pound [GIP] to British Pound Sterling [GBP], or Convert British Pound Sterling to Gibraltar Pound.
How to Convert Gibraltar Pound to British Pound Sterling
1 GIP = 1.00013509862199 GBP
Example: convert 15 GIP to GBP:
15 GIP = 15 × 1.00013509862199 GBP = 15.0020264793299 GBP
Gibraltar Pound to British Pound Sterling Conversion Table
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Gibraltar Pound
The Gibraltar Pound (GIP) is the official currency of Gibraltar, pegged at par to the British Pound Sterling and used alongside it locally.
History/Origin
Introduced in 1934, the Gibraltar Pound replaced the Gibraltar Pound issued during the British colonial period. It has maintained a fixed exchange rate with the British Pound since its inception, with coins and banknotes issued specifically for Gibraltar.
Current Use
The Gibraltar Pound is widely used in Gibraltar for everyday transactions, alongside the British Pound Sterling. It is accepted locally and is also used in some border areas of Spain, with coins and banknotes issued by the Government of Gibraltar.
British Pound Sterling
The British Pound Sterling (GBP) is the official currency of the United Kingdom and its territories, used as a standard unit of monetary value.
History/Origin
The Pound Sterling is one of the oldest currencies still in use, dating back to the 8th century. It was originally a silver coin and has evolved through various forms, including the gold standard and fiat currency, becoming the UK's primary currency in the 19th century.
Current Use
Today, the GBP is widely used in the UK and its territories, serving as the main currency for everyday transactions, banking, and international trade. It is also a major reserve currency globally.