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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 to the British Pound Sterling (GBP) at par, meaning one Gibraltar Pound is equal to one British Pound. The GIP is primarily used for everyday transactions within Gibraltar, although the British Pound is also accepted widely.
The United States Dollar (USD) is the official currency of the United States and is widely used as a global reserve currency. It plays a crucial role in international trade and finance, serving as a standard unit of account for many countries around the world.