Convert Gibraltar Pound to Malagasy Ariary
Please provide values below to convert Gibraltar Pound [GIP] to Malagasy Ariary [MGA], or Convert Malagasy Ariary to Gibraltar Pound.
How to Convert Gibraltar Pound to Malagasy Ariary
1 GIP = 0.000167175842022691 MGA
Example: convert 15 GIP to MGA:
15 GIP = 15 × 0.000167175842022691 MGA = 0.00250763763034036 MGA
Gibraltar Pound to Malagasy Ariary Conversion Table
| Gibraltar Pound | Malagasy Ariary |
|---|
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.
Malagasy Ariary
The Malagasy Ariary (MGA) is the official currency of Madagascar, used for all monetary transactions within the country.
History/Origin
The Ariary was introduced in 1961, replacing the Malagasy franc, and was initially pegged to the French franc. It was revalued in 2005, establishing the current decimal system and modernizing the currency.
Current Use
The MGA is actively used as Madagascar's legal tender, with coins and banknotes circulating throughout the country for everyday transactions and commerce.