Convert Gibraltar Pound to Cuban Peso
Please provide values below to convert Gibraltar Pound [GIP] to Cuban Peso [CUP], or Convert Cuban Peso to Gibraltar Pound.
How to Convert Gibraltar Pound to Cuban Peso
1 GIP = 0.0308458333333333 CUP
Example: convert 15 GIP to CUP:
15 GIP = 15 × 0.0308458333333333 CUP = 0.4626875 CUP
Gibraltar Pound to Cuban Peso 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.
Cuban Peso
The Cuban Peso (CUP) is the official currency of Cuba, used for everyday transactions within the country.
History/Origin
The Cuban Peso has been the official currency of Cuba since 1960, replacing the Cuban peso convertible (CUC) as the primary currency after the monetary reforms. It has undergone various changes in value and design over the years, reflecting Cuba's economic policies and relations.
Current Use
Today, the Cuban Peso is used mainly for domestic transactions, while the CUC is used for tourism and foreign trade. The CUP remains an essential part of Cuba's monetary system, with recent reforms aiming to unify the currency system.