Gibraltar Pound to Euro — exchange rate

Country of Circulation: Gibraltar

Currency Code, Symbol: GIP, £

Denominations of coins in circulation: 1p, 2p, 5p, 10p, 20p, 50p, £1, £2, £5

Denominations of banknotes in circulation: £5, £10, £20, £50

History: The Gibraltar pound (£) is a sovereign currency of Gibraltar. The currency is also known as the livre. It is used along with the British pound sterling at par.For international conversion operations, it is shortened to GIP. Pennies are used as change for the Gibraltar pound. One GIP has 100 pennies. The currency became the main payment unit in 1898. Every 2 years, the Gibraltar’s Mint manufactures a 2-pound coin with a new design. There are coins telling a story of a well-known myth – 12 labors of Heracles.Read More

Country of Circulation: European Union

Currency Code, Symbol: EUR, €

Denominations of coins in circulation: 1c, 2c, 5c, 10c, 20c, 50c, €1, €2

Denominations of banknotes in circulation: €5, €10, €20, €50, €100

History: The euro (sign: €, code: EUR, number: 978) is a currency unit that is used for payment on the Eurozone territory. It is used among the majority of European countries: in Germany, Austria, Spain, France, Greece, etc. A common abbreviation of the currency is EUR.Every euro is worth 100 cents. Sometimes the coins are called eurocents to avoid misunderstanding. The € currency was introduced in 2002 after the official establishment of the European Union. It has replaced a lot of European currencies: Greek drachma, Lithuanian litas, Slovak krona and so on. Introducing euro on a vast territory has allowed to remove transfer commission connected to conversion. Many preserved local currencies have a rate closely tied to EUR.Read More