Converting from Gibraltar Pound (GIP) to Cape Verde Escudo (CVE)

What is Gibraltar Pound (GIP)

The Gibraltar Pound (GIP) is the official currency of Gibraltar, a British Overseas Territory located at the southern tip of the Iberian Peninsula. It is pegged at par to the British Pound Sterling (GBP), which means that one Gibraltar Pound is equal to one British Pound. The currency symbol for Gibraltar Pound is “£”, similar to the British Pound, but sometimes it is also denoted as “GIP” to avoid confusion.

Gibraltar Pound notes and coins feature various symbols of Gibraltar, including its famous Rock, Queen Elizabeth II, and other local emblems. The GIP is used mostly within Gibraltar, but it is also accepted in some areas of Spain, mainly in bordering towns. However, when traveling outside of Gibraltar, especially to countries that do not accept GIP, visitors often use the British Pound for convenience.

What is Cape Verde Escudo (CVE)

The Cape Verde Escudo (CVE) is the currency of Cape Verde, an island country located in the central Atlantic Ocean. The symbol for the Cape Verde Escudo is “Esc” or “CVE”. The currency is subdivided into 100 centavos. The CVE was introduced in 1914, replacing the Portuguese escudo, when Cape Verde was still a Portuguese colony.

After gaining independence in 1975, Cape Verde continued to use the escudo, which has undergone several variations and reforms since its inception. The CVE has maintained a fixed exchange rate against the Euro (EUR) since 1998, making it stable compared to many other currencies. The notes and coins show various themes from Cape Verde’s culture and history, including notable figures and traditional designs.

Converting GIP to CVE

When converting Gibraltar Pounds (GIP) to Cape Verde Escudo (CVE), it is essential to refer to the current exchange rate as it fluctuates due to market conditions. To perform the conversion, you can use the following formula:

CVE = GIP × Exchange Rate

For example, if the exchange rate is 1 GIP = 135 CVE, then converting 10 GIP would give:

CVE = 10 GIP × 135 = 1350 CVE

It is advisable to check reliable financial news, banks, or currency converters for the most accurate and up-to-date exchange rates.

In conclusion, whether you’re traveling to Gibraltar or Cape Verde, understanding the differences between the Gibraltar Pound and Cape Verde Escudo will help you manage your finances better. Always ensure you do the math based on the latest rates to avoid any inconvenience during your travels.