This is a foreign exchange guide to Gibraltar, the Gibraltar Pound currency plus sending GIP transfers and travel tips.
In this Gibraltar currency guide we take a look at :
- Gibraltar Pound info - general info about the Gibraltar Pound
- Gibraltar Pound in the markets - recent GIP moves and predictions from the FX markets
- Travelling in Gibraltar - currency & money saving tips
- Buying Gibraltar Pound cash online - travel money for Gibraltar
- Sending money to Gibraltar - save on Gibraltar Pound bank transfers to Gibraltar
- Gibraltar Pound exchange rates - latest & historic exchange rates.
Gibraltar Pound (GIP) general currency information
What is the Gibraltar Pound currency code and symbol?
The three letter currency code for the Gibraltar Pound is GIP and the symbol is £.
Which countries use the Gibraltar Pound?
It is the domestic currency in Gibraltar.
Gibraltar Pound (GIP) in the markets
The interactive chart below shows the USD to GIP exchange rate and trend for the previous 3 months:
Travel, Currency and Money saving tips for Gibraltar
Gibraltar is a British Overseas Territory, in the form of a small rocky peninsula on the south coast of Spain. It is recognised historically as the southernmost point of Europe and is also strategically positioned at the western end of the Mediterranean, forming one of the ancient Pillars of Hercules. The famous rock, in the rock of Gibraltar, is predominantly Jurassic limestone, some 200 million years old. Apart from the rock, Gibraltar is famed for its VAT-free shopping. Branded sunglasses, perfumes, tobacco, spirits, crystal and porcelain are amongst some of the coveted deals to be had here.
What language is spoken in Gibraltar?
English is the official language here though Spanish is widely spoken. An unusual, unofficial dialect has evolved , called 'Yanito' which is a blend of English, Spanish, and Italian and is widely spoken amongst the locals. One feature of the language is the pronunciation of English words with a Spanish intonation.
Gibraltar Government sterling is the official currency, though UK sterling is equally welcome and considered on par. Most places will also accept Euros and dollars. Credit cards are widely accepted and ATMs prevalent.
Are passports needed for Gibraltar?
Gibraltar is a member of the European Union, however it is not part of the Schengen Area or EU Customs Union. This means that there are immigration and customs controls when entering and leaving Gibraltar. Citizens of the European Union are required to have a national identity card or passport, while all others are required to have a passport to enter.
Driving across the border can be a long waiting process, and there are often people trying to sell you many things (including visas you don’t need) as you wait. Taxis can be expensive once you get to Gibraltar, but the peninsula is only seven miles long, and parking your car at La Línea and walking across the border can save you lots of time. There is no train service to Gibraltar, but a connection by bus from Algeciras train station to La Linea or a taxi is possible. Buses from Spain stop just short of Gibraltar in La Línea, but its bus station is only a three minute walk to the border.
Travel money for Gibraltar
Save money and time by Ordering your Gibraltar Pound online from Travelex, you get better rates and can pick up the GIP cash locally or even on travel day at the airport.
Another popular option is to use a Pre-paid Travel Card. Your Debit/Credit Card provider will charge you 2% from market mid-rate, but your bank may also charge an extra 3% as an “Overseas Transaction Charge” plus “Overseas ATM” fees for withdrawing cash.
For card purchases if offered a choice of currencies always select to Pay in Gibraltar Pound otherwise you may get much worst exchange rates.
Gibraltar Trip Checklist
Sending money to Gibraltar
When searching around for information on how to get a good exchange rate when sending money to Gibraltar you need to start with finding out the latest Gibraltar Pound foreign-transfer exchange rate.
Then compare your bank's exchange rates to several licensed FX providers exchange rate and fees to see how much you can save (we make that calculation easy here).
Get a better deal for foreign transfers to Gibraltar
When sending money to Gibraltar it’s important to compare your bank’s rates & fees with those we have negotiated with our partner money transfer providers. To get a better deal you should follow these 4 simple steps :
- Open an account with a BER reviewed FX provider (id docs may be required)
- You specify the local or Gibraltar Pound amount you want to transfer
- Make a local currency domestic transfer for the requested amount to the provider's bank account in your country
- Once your funds are received by the provider the converted GIP amount will be transfered to the recipient account you specify in Gibraltar.
Use our Send to GIP calculator to compare the exchange rates of FX specialist providers rates versus your bank's standard rates you can hopefully save around 5% and maybe more - end result is more Gibraltar Pound deposited into the recipient bank account and less margins and fees kept by the banks!