Money, Budget, and Shopping

Money

Currency

Currency: Gibraltar Pound (100 pence).

Banknotes: £5, £10, £20, £50, and £100.

Coins: 1p, 2p, 5p, 10p, 20p, and 50p + £1 and £2.

Exchange:

Since 1927, Gibraltar has had its own banknotes and, since 1988, its own coins, which are at parity with the British Pound. In fact, British coins and banknotes circulate interchangeably with Gibraltar’s currency on "the Rock."

Exchange

Major currencies can be exchanged without issue at exchange bureaus or banks, and ATMs are also available for transactions. Banks are open from 9:00 AM to 3:30 PM Monday to Thursday and until 4:30 PM on Fridays. Exchange bureaus are open from 9:00 AM to 6:00 PM.

Which currency to bring

If you’re coming from the eurozone, you can get by without exchanging currency since the euro is widely accepted almost everywhere. The only downside is that the exchange rate offered may not always be the most favorable.

Payment methods

It’s best to use cash (including euros) for small expenses, even though card payments are accepted everywhere. However, cards may incur a commission on the inter-currency exchange rate.

Returning home

While there’s no problem exchanging British Pounds when you return, the same isn’t true for Gibraltar Pounds. These can only be exchanged at banks in the UK, with parity between the two currencies. In short, if you’re going to have Pounds, it’s better to ask for British Pounds if you plan to exchange them later.

Budget

Gibraltar is significantly more expensive than neighboring Spain for accommodation and restaurants. If you plan to stay, budget around 50 to 70 € per day.

What can be expensive

Accommodation in Gibraltar.

Restaurants.

Entry fees for attractions.

What can be affordable

Staying on the Spanish side.

Visiting just for a day trip from Spain.

Tax-free shopping.

Bargaining and tipping

Shopping and souvenirs

Gibraltar’s appeal for shopping lies in its status as a tax-free zone, with some of the lowest prices in Europe for tobacco and alcohol. Beyond that, there aren’t many souvenirs to bring back from Gibraltar, except perhaps for products branded with the territory’s name.