Convert Gibraltar Pound to Somali Shilling
Please provide values below to convert Gibraltar Pound [GIP] to Somali Shilling [SOS], or Convert Somali Shilling to Gibraltar Pound.
How to Convert Gibraltar Pound to Somali Shilling
1 GIP = 0.00129549999685006 SOS
Example: convert 15 GIP to SOS:
15 GIP = 15 × 0.00129549999685006 SOS = 0.0194324999527509 SOS
Gibraltar Pound to Somali Shilling Conversion Table
| Gibraltar Pound | Somali Shilling |
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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.
Somali Shilling
The Somali Shilling (SOS) is the official currency of Somalia, used for everyday transactions and monetary exchanges within the country.
History/Origin
The Somali Shilling was introduced in 1962, replacing the Somali Somali shilling, and has undergone various reforms and devaluations due to economic challenges and civil unrest over the decades.
Current Use
Today, the Somali Shilling remains the official currency of Somalia, used in cash transactions, with banknotes and coins issued by the Central Bank of Somalia. It is also used in some neighboring regions and for remittances.