What currency is used in Gibraltar?
Short answer
Gibraltar uses the pound sterling. The Government of Gibraltar issues its own notes and coins, which are legal tender and worth the same as UK pounds, and Bank of England notes and UK coins are equally welcome.
Detailed answer
Gibraltar's currency is the pound sterling. Legal tender is Government of Gibraltar notes and coins, and Bank of England notes and UK coins are equally welcome, so both circulate side by side.
Paying in euros
Most establishments accept euros, but you will often get a better rate by changing money at one of the banks or bureaux de change in town. Banks generally open Monday to Friday from 09:00 to 16:00, and bureaux de change from 09:00 to 18:00.
Cards and foreign transaction fees
All major credit cards are widely accepted in shops, restaurants and hotels. Card payments are in pounds, but Gibraltar is outside the UK, and some UK banks apply overseas charges there. Ulster Bank, for example, charges a 2.65% Non-Sterling Transaction Fee on cash withdrawals outside the UK, except sterling withdrawals at its own group's branches in places including Gibraltar. Check your bank's tariff before you travel.
Cash machines
Gibraltar International Bank runs eight cash machines around the town, available 24 hours a day. They also offer euro withdrawals, with the exchange rate shown on screen before you confirm.
Gibraltar notes outside Gibraltar
Change may be given in Gibraltar notes, which UK shops do not accept, so ask for Bank of England notes if you are returning to the UK, or spend Gibraltar notes before you leave.
Exchanging withdrawn notes
When the Government withdrew the older Gibraltar £5 note in December 2021, banks accepted it until the end of January 2022, and the Treasury Department of the Ministry of Finance at 206/210 Main Street continued to accept the demonetised notes after that. Old Bank of England notes can be exchanged with the Bank of England by post with no deadline, with payment made only to an account that accepts sterling.