March 18 GIP Exchange Rate Experiences Volatility Marks Highs and Lows

Summary of Last Month

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On March 18, 2024, the exchange rate of the Gibraltar Pound (GIP) underwent a significant ebb and flow throughout the trading day, as it displayed considerable volatility in the currency market. The day embarked with the GIP opening at a rate of 1.72453. However, an ascending trend was observed during the early hours of the day as by 05:25 it elevated to 1.72556, its peak of the day. Nevertheless, the climax was short-lived, and the GIP exchange rate experienced its first significant dip during the day, dropping to 1.72270 at 02:40, its intraday low. Post this dip, the currency experienced fluctuations, reaching an appreciable high figure of 1.72643 at 09:05:02. As the day advanced, the exchange rate of GIP began to fluctuate within a narrower range, swinging between 1.724 and 1.726. As the GIP witnessed a series of highs and lows through the day, it hints at currency market volatility that could potentially impact traders and investors involved in the currency market. For investors, especially those who engage in foreign exchange trading or have holdings in Gibraltar, this signifies a period of unpredictability that may necessitate careful maneuvering and strategic planning. Volatility in the exchange rate of a currency is influenced by various factors, including economic indicators, geopolitical events, and changes in market sentiment. While some currency traders thrive on such price swings, others prefer more stable and predictable environments. The GIP''s volatility may have significant implications for the Gibraltar economy as well. Exchange rates directly impact international trade; when a country''s currency is strong, its goods become more expensive for foreign buyers, potentially impacting exports, tourism, and other sectors sensitive to currency exchange fluctuation. Furthermore, the fluctuation in the exchange rate might be indicative of the larger, macroeconomic conditions influencing Gibraltar, Europe, and potentially, the global economy. To mitigate risks associated with exchange rate fluctuations, investors and business entities may need to employ hedging strategies. Looking forward, market participants will be attentively watching the GIP exchange rate development and its persistence or abatement. It could mark the beginning of a sustained period of fluctuation or could simply be a transitory phase in the market. This mild roller-coaster ride of the GIP suggests that both investors and financial risk protective agencies need to keep a cautious observation on future currency movements.March 18 GIP Exchange Rate Experiences Volatility Marks Highs and Lows

Current Middle Market Exchange Rate

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