Convert Gibraltar Pound to Nigerian Naira
Please provide values below to convert Gibraltar Pound [GIP] to Nigerian Naira [NGN], or Convert Nigerian Naira to Gibraltar Pound.
How to Convert Gibraltar Pound to Nigerian Naira
1 GIP = 0.000483634021990812 NGN
Example: convert 15 GIP to NGN:
15 GIP = 15 × 0.000483634021990812 NGN = 0.00725451032986218 NGN
Gibraltar Pound to Nigerian Naira 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.
Nigerian Naira
The Nigerian Naira (NGN) is the official currency of Nigeria, used for all monetary transactions within the country.
History/Origin
Introduced in 1973, the Naira replaced the Nigerian pound at a rate of 2 Naira to 1 pound, and has undergone various redenominations and currency reforms since then.
Current Use
The Naira is widely used across Nigeria for everyday transactions, banking, and trade, with coins and banknotes issued by the Central Bank of Nigeria.