Rhodesian pound
From Wikipedia, the free encyclopedia
| User(s) | Rhodesia |
| Pegged with | British pound at par, and then R£ = US$ 2.8 |
| Subunit | |
| 1/20 | shilling |
| 1/240 | penny |
| Symbol | £ |
| shilling | s |
| penny | d |
| Plural | |
| penny | pence |
| Coins | 3d, 6d, 1/-, 2/-, 2/6 |
| Banknotes | 10/-, £1, £5 |
| Central bank | Reserve Bank of Rhodesia |
| Printer | Bradbury Wilkinson (before 1965) in Rhodesia between 1966 and October 1968 |
| This infobox shows the latest status before this currency was rendered obsolete. | |
The pound was the currency of Rhodesia from independence in 1964 until 1970. It was divided into 20 shillings, each of 12 pence.
When the Federation of Rhodesia and Nyasaland broke up in 1964, Rhodesia (formerly Southern Rhodesia) issued its own pound. In 1970, the pound was replaced by the dollar, at a rate of 1 pound = 2 dollars.
Contents |
[edit] Coins
Coins were issued for circulation in the denominations of threepence, sixpence (6D), one shilling (1/-), two shillings (2/-) and two shillings sixpence (2/6). Apart from the threepence, these coins also bore a denomination in cents (5c, 10c, 20c and 25c, respectively) although Rhodesia did not decimalize until 1970. Gold proof coins were issued in denominations of 10 shillings, £1, and £5, equivalent to the half, one and five sovereign coins. All coins had the title of Queen Elizabeth II in English, rather than in Latin, as had been the case on the coins of Rhodesia and Nyasaland and Southern Rhodesia.
[edit] Banknotes
Banknotes were issued in denominations of ten shillings, one pound and five pounds. All notes featured Queen Elizabeth II on the obverse. The reverse designs were reused on the new dollar notes introduced in 1970.
Prior to the Unilateral Declaration of Independence (UDI) of 11 November 1965, Rhodesia was a member of the sterling zone. The banknotes were printed and supplied from the UK by the printers Bradbury Wilkinson.
After UDI, the British government expelled Rhodesia from the sterling zone and the supply of banknotes dried up. This very soon had an adverse effect in Rhodesia, and the shortage of new notes and the condition of those in circulation began to become a pressing concern.
In early 1966, the Rhodesian Central Bank ordered a completely new series of Rhodesian pound banknotes from the German printers Giesecke & Devrient in Munich. A court injunction prevented the banknotes from being despatched to Rhodesia, and the entire order was destroyed by the printers. Substitute consignments were printed in Rhodesia between 1966 and October 1968.
[edit] Peg
Like its predecessor, the Rhodesian pound was initially pegged to the British pound. But after the British pound lost its £1 = US$ 2.8 link, the Rhodesian pound switched its fixed rate to 1 Rhodesian pound = US$ 2.8.
[edit] References
[edit] External links
| Preceded by: Rhodesia and Nyasaland pound Reason: independence Ratio: at par |
Currency of Rhodesia 1964 – 1970 |
Succeeded by: Rhodesian dollar Reason: decimalization Ratio: 2 dollars = 1 pound |
