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The official Gibraltar currency is known as Gibraltar Pound (GIP). The currency of Gibraltar is divided into 100 new pence. Although the notes of the United Kingdom are accepted in Gibraltar but the Gibraltar Pounds has got no acceptance in the United Kingdom. Besides, Euros also enjoy a wide acceptance in Gibraltar.
The symbol for Gibraltar currency is '£'. The bank notes in Gibraltar is available in the denominations of Gib£ 50, 20, 10 and 5. This is for the purpose of local use only. The coins are basically the UK coins having a different reverse design. The government of Gibraltar issues coins in Gibraltar in various denominations. They are Gib£ 5, 2 and 1, and 50, 20, 10, 5, 2 and 1 pence. US dollars are also accepted at some establishments.
The banks in Gibraltar work between 9 am to 3:30 pm from Monday to Thursday. But on Fridays, it remains open from 9 am to 4:30 pm. The foreign currency is exchangeable at any bank of Gibraltar or at the exchange bureaux of the town. All the major credit cards as well as the traveler's cheques have got a wide acceptability in Gibraltar. For avoiding extra exchange rate charges, the travelers should carry the traveler's cheques in Pounds Sterling.
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