Convert Gibraltar Pound to Jamaican Dollar
Please provide values below to convert Gibraltar Pound [GIP] to Jamaican Dollar [JMD], or Convert Jamaican Dollar to Gibraltar Pound.
How to Convert Gibraltar Pound to Jamaican Dollar
1 GIP = 0.00462463494244975 JMD
Example: convert 15 GIP to JMD:
15 GIP = 15 × 0.00462463494244975 JMD = 0.0693695241367463 JMD
Gibraltar Pound to Jamaican Dollar 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.
Jamaican Dollar
The Jamaican Dollar (JMD) is the official currency of Jamaica, used for all monetary transactions within the country.
History/Origin
The Jamaican Dollar was introduced in 1969, replacing the Jamaican Pound at a rate of 1 dollar = 1.5 pounds. It has undergone various redenominations and reforms over the years to stabilize the economy.
Current Use
Today, the Jamaican Dollar is widely used in everyday transactions, banking, and commerce across Jamaica, with coins and banknotes issued by the Bank of Jamaica.