Gibraltar Pound: Currency Pegged 1:1 to British Pound Sterling

Gibraltar uses the Gibraltar pound (GIP), which is pegged at par (1:1) with the British pound sterling (GBP).

Key Points

• Issued by Government of Gibraltar.
• Banknotes and coins distinct from UK issues but same value.
• GBP also circulates freely in Gibraltar.
• Not a separate floating currency; fixed exchange rate maintained by currency board.

There is no “creation date” for the peg; it has existed in various forms since the 19th century, formalized in 1934.