Convert Mozambican Metical to Gibraltar Pound
Please provide values below to convert Mozambican Metical [MZN] to Gibraltar Pound [GIP], or Convert Gibraltar Pound to Mozambican Metical.
How to Convert Mozambican Metical to Gibraltar Pound
1 MZN = 85.9412400378225 GIP
Example: convert 15 MZN to GIP:
15 MZN = 15 × 85.9412400378225 GIP = 1289.11860056734 GIP
Mozambican Metical to Gibraltar Pound Conversion Table
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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.
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.