Convert Gibraltar Pound to Moroccan Dirham
Please provide values below to convert Gibraltar Pound [GIP] to Moroccan Dirham [MAD], or Convert Moroccan Dirham to Gibraltar Pound.
How to Convert Gibraltar Pound to Moroccan Dirham
1 GIP = 0.082179767547706 MAD
Example: convert 15 GIP to MAD:
15 GIP = 15 × 0.082179767547706 MAD = 1.23269651321559 MAD
Gibraltar Pound to Moroccan Dirham Conversion Table
| Gibraltar Pound | Moroccan Dirham |
|---|
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.
Moroccan Dirham
The Moroccan Dirham (MAD) is the official currency of Morocco, used for everyday transactions and issued by the Bank of Morocco.
History/Origin
The Dirham was introduced in 1960, replacing the Moroccan franc, and has undergone various reforms to modernize and stabilize the currency, including decimalization and currency reforms in the 21st century.
Current Use
The MAD is widely used across Morocco for all forms of payment, including cash, electronic transactions, and banking, and is also accepted in some neighboring regions for specific transactions.