GIP · GIP
Gibraltar pound (GIP)
The Gibraltar Pound is the official currency of Gibraltar, pegged at par to the British Pound Sterling.
Convert this currency
Converted amount
1.3501 USD
Exchange rate
1 GIP = 1.350074 USD
Updated
8/9/2026 12:00 AM
Source
ApiForex Managed Source 3
GIP · Gibraltar pound
Gibraltar Pound (GIP) Overview
The Gibraltar Pound (GIP) is the official currency of Gibraltar, a British Overseas Territory located at the southern tip of the Iberian Peninsula. It was introduced in 1927, replacing the Spanish peseta and other currencies that had circulated in the territory. The GIP is pegged at par to the British Pound Sterling (GBP), meaning that one GIP is always equal to one GBP. This peg ensures stability and facilitates trade and tourism between Gibraltar and the United Kingdom.
Gibraltar's economy is diverse, with key sectors including financial services, online gaming, tourism, and shipping. The currency is issued by the Government of Gibraltar, and banknotes and coins are distinct in design from those of the UK, although they are often accepted interchangeably in some local businesses. However, GIP is not legal tender in the UK, and visitors are advised to exchange any remaining GIP before leaving Gibraltar.
The Gibraltar Pound is a stable currency due to its peg to the GBP, which is one of the world's major reserve currencies. This stability makes GIP a reliable medium of exchange for local transactions and a safe store of value for residents and businesses. While the currency is not widely traded internationally, it plays a crucial role in the daily economic life of Gibraltar, supporting its thriving financial and tourism sectors.
- Code
- GIP
- Symbol
- GIP
- Current rate
- USD / GIP
Currency information
Last updated · 8/7/2026
Introduced in 1927, pegged to the pound sterling.
- Official name
- Gibraltar pound
- Legal tender status
- Legal tender in Gibraltar
- Decimal places
- 2
- Minor unit
- penny · 1 GIP = 100 penny
- Countries
- United Kingdom
- Territories
- Gibraltar
- Issuing authority
- Government of Gibraltar
- Central bank
- Government of Gibraltar · Official website
- Exchange-rate regime
- Pegged to pound sterling at par
Common banknotes
£5 · £10 · £20 · £50 · £100
Common coins
1p · 2p · 5p · 10p · 20p · 50p · £1 · £2
Also known as
Gibraltar pound sterling · Gibraltar pound · GIP · £
Practical notes
- Banknotes are issued by the Government of Gibraltar.
- Coins are similar in size and value to UK coins.
Priority currency pairs
The most useful conversions for this currency.
Gibraltar pound questions
What is the GIP exchange rate?
The displayed rate is the latest available reference rate for USD/GIP. It can change throughout the day.
How can I convert GIP online?
Use the converter above to calculate indicative amounts between GIP and the other supported currencies.