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Gibraltar, a peninsula at the southern tip of Spain opposite the African continent, is strategically positioned at the junction of the Mediterranean and the Atlantic. The island is a British Dependent Territory, hence a British Crown Colony, with a legal system based on the English Common Law. The national currency is the Gibraltar Sterling Pound, however the UK Sterling Pound and the Spanish Peseta are accepted nationwide. Currently, no foreign exchange controls are in existence. The island’s official language is English, but Spanish is widely spoken.
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