Convert Saudi Riyal to Gibraltar Pound
Please provide values below to convert Saudi Riyal [SAR] to Gibraltar Pound [GIP], or Convert Gibraltar Pound to Saudi Riyal.
How to Convert Saudi Riyal to Gibraltar Pound
1 SAR = 5.06551398081859 GIP
Example: convert 15 SAR to GIP:
15 SAR = 15 × 5.06551398081859 GIP = 75.9827097122788 GIP
Saudi Riyal to Gibraltar Pound Conversion Table
| Saudi Riyal | Gibraltar Pound |
|---|
Saudi Riyal
The Saudi Riyal (SAR) is the official currency of Saudi Arabia, used for all monetary transactions within the country.
History/Origin
The Saudi Riyal was introduced in 1925, replacing the Indian Rupee, and has undergone various reforms, including decimalization in 1929. It is issued and regulated by the Saudi Central Bank.
Current Use
The SAR is widely used in Saudi Arabia for everyday transactions, banking, and international trade, and is pegged to the US dollar at a fixed rate.
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.