Convert Gibraltar Pound to Cuban Convertible Peso
Please provide values below to convert Gibraltar Pound [GIP] to Cuban Convertible Peso [CUC], or Convert Cuban Convertible Peso to Gibraltar Pound.
How to Convert Gibraltar Pound to Cuban Convertible Peso
1 GIP = 0.7403 CUC
Example: convert 15 GIP to CUC:
15 GIP = 15 × 0.7403 CUC = 11.1045 CUC
Gibraltar Pound to Cuban Convertible Peso Conversion Table
| Gibraltar Pound | Cuban Convertible Peso |
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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.
Cuban Convertible Peso
The Cuban Convertible Peso (CUC) was a currency used in Cuba, primarily for tourism and foreign transactions, pegged to the US dollar.
History/Origin
Introduced in 1994 to replace the peso convertible, the CUC was used alongside the Cuban peso (CUP). It facilitated foreign trade and tourism. The CUC was phased out starting in 2020 as part of Cuba's monetary unification efforts, with its value being absorbed into the CUP.
Current Use
The CUC is no longer in circulation as of 2021. Cuba has transitioned to a single currency system using the Cuban peso (CUP), and the CUC is considered obsolete.