Convert Gibraltar Pound to Mozambican Metical
Please provide values below to convert Gibraltar Pound [GIP] to Mozambican Metical [MZN], or Convert Mozambican Metical to Gibraltar Pound.
How to Convert Gibraltar Pound to Mozambican Metical
1 GIP = 0.0116358572387355 MZN
Example: convert 15 GIP to MZN:
15 GIP = 15 × 0.0116358572387355 MZN = 0.174537858581032 MZN
Gibraltar Pound to Mozambican Metical 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.
Mozambican Metical
The Mozambican Metical (MZN) is the official currency of Mozambique, used for all monetary transactions within the country.
History/Origin
The Metical was introduced in 1980, replacing the Mozambique Escudo, to stabilize the economy and modernize the monetary system. It has undergone several redenominations and reforms since its inception.
Current Use
The Metical is actively used as Mozambique's primary currency for everyday transactions, banking, and trade. It is issued and regulated by the Bank of Mozambique.