Rhodesian pound

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Rhodesian pound
Rhodesia one pound 1968.jpg
1968-issue £1 note
Denominations
Subunit
120 shilling
1240 penny
Plural  
penny pence
Symbol £
shilling s or /–
penny d
Banknotes10/–, £1, £5
Coins 3d, 6d, 1/-, 2/–, 2/6
Demographics
User(s)Flag of Rhodesia (1964-1968).svg Southern Rhodesia (1964–1965)
Flag of Rhodesia (1968-1979).svg  Rhodesia (1965–1970)
Issuance
Central bank Reserve Bank of Rhodesia
Printer Bradbury Wilkinson (before 1965)
in Rhodesia between 1966 and October 1968
Valuation
Pegged with sterling at par, then £1 Rhodesian = US$2.80
This infobox shows the latest status before this currency was rendered obsolete.

The pound was the currency of Southern Rhodesia from 1964 to 1965 and Rhodesia from 1965 until 1970. It was subdivided into 20 shillings , each of 12 pence .

Contents

History

The Rhodesian pound was introduced following the break-up of the Federation of Rhodesia and Nyasaland, when Southern Rhodesia changed its name to simply Rhodesia. The Rhodesian pound replaced the Rhodesia and Nyasaland pound at par and the coins and banknotes of this earlier currency continued to circulate.

Like its predecessor, the Rhodesian pound was initially pegged to sterling. When sterling was devalued from US$2.8 to US$2.4 in 1967, Rhodesia switched its peg to 1 pound = US$2.8. In 1970, the pound was replaced by the dollar, at a rate of £1 Rhodesian = $2 Rhodesian, so $1 Rhodesian was US$1.40.

Coins

In 1964, coins were introduced for 6d, 1/–, 2/– and 2/6. These coins also bore a denomination in cents (5C, 10C, 20C and 25C, respectively), although Rhodesia did not decimalise until 1970. This was possibly for compatibility with the South African rand, which retained a fixed 2:1 parity with the Rhodesian pound until 1967. In 1968, 3d coins were introduced which did not bear a denomination in cents. 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.

Banknotes

Beginning in 1964, banknotes were issued in denominations of 10/–, £1 and £5. All notes featured Queen Elizabeth II on the obverse. The reverse designs were reused on the new dollar notes introduced on 17 February 1970. These dollar notes are like the pound issues, but with new currency units, the bank logo replaces the coat of arms, and the coat of arms replaces the portrait of Queen Elizabeth II. [1]

Prior to UDI, 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 Reserve Bank of Rhodesia ordered a completely new series of Rhodesian pound banknotes from the German printers Giesecke & Devrient in Munich. [2] A court injunction prevented the banknotes from being despatched to Rhodesia, and the entire order was destroyed by the printers. [3] Substitute consignments were printed in Rhodesia between 1966 and October 1968.

ImageDenominationObverse designReverse design
Rhodesia ten shillings 1968.jpg 10/– Queen Elizabeth II Cultivation of tobacco
Rhodesia one pound 1968.jpg £1 Queen Elizabeth II Victoria Falls
Rhodesia five pounds 1966.jpg £5 Queen Elizabeth II Great Zimbabwe ruins

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The pound was the currency of the Federation of Rhodesia and Nyasaland. It was subdivided into 20 shillings, each of 12 pence.

The pound was the currency of Southern Rhodesia. It also circulated in Northern Rhodesia and Nyasaland. The pound was subdivided into 20 shillings, each of 12 pence.

The coins of the Rhodesian pound were part of the currency of Southern Rhodesia, which changed its name to Rhodesia, following the break-up of the Federation of Rhodesia and Nyasaland, when the Rhodesian pound replaced the Rhodesia and Nyasaland pound, which had replaced the Southern Rhodesian pound.

References

  1. Linzmayer, Owen (2012). "Rhodesia". The Banknote Book. San Francisco, CA: www.BanknoteNews.com.
  2. Summary of World Broadcasts: Non-Arab Africa, Issues 2356-2417, BBC Monitoring Service, 1967
  3. SOUTHERN RHODESIA, Hansard , HC Deb 18 April 1967 vol 745 cc441-90
Preceded by:
Rhodesia and Nyasaland pound
Reason: federation break-up
Ratio: at par
Currency of Rhodesia
1964 1970
Succeeded by:
Rhodesian dollar
Reason: decimalisation
Ratio: 2 dollars = 1 pound