Convert Moroccan Dirham to Gibraltar Pound
Please provide values below to convert Moroccan Dirham [MAD] to Gibraltar Pound [GIP], or Convert Gibraltar Pound to Moroccan Dirham.
How to Convert Moroccan Dirham to Gibraltar Pound
1 MAD = 12.1684452249088 GIP
Example: convert 15 MAD to GIP:
15 MAD = 15 × 12.1684452249088 GIP = 182.526678373632 GIP
Moroccan Dirham to Gibraltar Pound Conversion Table
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Moroccan Dirham
The Moroccan Dirham (MAD) is the official currency of Morocco, used for everyday transactions and issued by the Bank of Morocco.
History/Origin
The Dirham was introduced in 1960, replacing the Moroccan franc, and has undergone various reforms to modernize and stabilize the currency, including decimalization and currency reforms in the 21st century.
Current Use
The MAD is widely used across Morocco for all forms of payment, including cash, electronic transactions, and banking, and is also accepted in some neighboring regions for specific transactions.
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.