Tongan pound

Last updated

The pound was the currency of Tonga until 1967. It was subdivided into 20 shillings, each of 12 pence.

Contents

History

Initially, sterling coins and notes circulated. This was supplemented, from 1921, by banknotes issued by the Tongan government. The notes were denominated in sterling and included the rather unusual denomination of 4 shillings. When the Australian pound devalued relative to sterling at the beginning of the Great depression, this caused considerable confusion on the smaller islands of the British Western Pacific. In the mid-1930s people in these islands were asking whether or not their sterling accounts were to be considered as the pound sterling, or the Australian pound. Clarification was sought. In 1936, the Tongan pound was devalued to 16/– stg, or £1/5/– = £1 stg, thus setting the Tongan pound equal to the Australian pound. Existing banknotes had the word "sterling" overstamped, later issues omitted the word altogether. In 1967, the pound was replaced by the pa'anga at a rate of £1 = T$2.

For a more general view of history in the wider region, see history of pound sterling in Oceania.

Banknotes

In 1921, £5 notes were introduced, followed by notes for 4/– and 10/– and £1 in 1933. These four denominations were issued until 1966.

See also

Related Research Articles

The Australian dollar is the currency of Australia, including its external territories: Christmas Island, Cocos (Keeling) Islands, and Norfolk Island. It is officially used as currency by three independent Pacific Island states: Kiribati, Nauru, and Tuvalu. It is legal tender in Australia. Within Australia, it is almost always abbreviated with the dollar sign ($), with A$ or AU$ sometimes used to distinguish it from other dollar-denominated currencies. The $ symbol precedes the amount. It is subdivided into 100 cents.

The New Zealand dollar is the official currency and legal tender of New Zealand, the Cook Islands, Niue, the Ross Dependency, Tokelau, and a British territory, the Pitcairn Islands. Within New Zealand, it is almost always abbreviated with the dollar sign ($), with "NZ$" sometimes used to distinguish it from other dollar-denominated currencies.

Pound sterling Official currency of the United Kingdom and other territories

Sterling is the official currency of the United Kingdom and its associated territories.

Ghanaian cedi Currency of Ghana

The Ghanaian cedi is the unit of currency of Ghana. It is the fourth historical and only current legal tender in the Republic of Ghana. One cedi is divided into one hundred pesewas (Gp).

Cypriot pound Former currency of Cyprus

The pound, or lira, was the currency of Cyprus, including the Sovereign Base Areas in Akrotiri and Dhekelia, from 1879 to 2007, when the Republic of Cyprus adopted the euro. However, the self-proclaimed Turkish Republic of Northern Cyprus used and still uses on the official level the Turkish lira.

Australian pound Former currency of Australia

The pound was the currency of Australia from 1910 until 14 February 1966, when it was replaced by the Australian dollar. As with other £sd currencies, it was subdivided into 20 shillings, each of 12 pence.

Tongan paʻanga Currency of Tonga

The paʻanga is the currency of Tonga. It is controlled by the National Reserve Bank of Tonga in Nukuʻalofa. The paʻanga is not convertible and is pegged to a basket of currencies comprising the Australian, New Zealand, and United States dollars and the Japanese yen.

The pound is the currency of Guernsey. Since 1921, Guernsey has been in currency union with the United Kingdom and the Guernsey pound is not a separate currency but is a local issue of sterling banknotes and coins, in a similar way to the banknotes issued in Scotland, England and Northern Ireland. It can be exchanged at par with other sterling coinage and notes.

Egyptian pound Currency of Egypt

The pound is the official currency of Egypt. It is divided into 100 piastres, or ersh, or 1,000 milliemes.

Jersey pound Currency of Jersey

The pound is the currency of Jersey. Jersey is in currency union with the United Kingdom, and the Jersey pound is not a separate currency but is an issue of banknotes and coins by the States of Jersey denominated in sterling, in a similar way to the banknotes issued in Scotland and Northern Ireland. It can be exchanged at par with other sterling coinage and notes.

The pound is the currency of the Atlantic islands of Saint Helena and Ascension, which are constituent parts of the British Overseas Territory of Saint Helena, Ascension and Tristan da Cunha. It is fixed at parity with sterling, and so both currencies are commonly accepted and circulated within Saint Helena. It is subdivided into 100 pence.

The tālā is the currency of Samoa. It is divided into 100 sene. The terms tālā and sene are the equivalents or transliteration of the English words dollar and cent, in the Samoan language. Its symbol is $, or WS$ to distinguish it from other currencies named dollar.

New Zealand pound Currency of New Zealand from 1840 until 1967

The pound was the currency of New Zealand from 1840 until 1967, when it was replaced by the New Zealand dollar. Like the sterling, it was subdivided into 20 shillings each of 12 pence.

Rhodesian pound

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.

Jamaican pound Official currency of Jamaica from 1840 to 1969

The pound was the official currency of Jamaica between 1840 and 1969. It circulated as a mixture of sterling coinage and locally issued coins and banknotes and was always equal to the pound sterling. The Jamaican pound was also used in the Cayman and Turks and Caicos Islands.

The pound was the currency of the Bahamas until 1966. It was equivalent to the pound sterling and was divided into 20 shillings, each of 12 pence. Standard sterling coinage circulated. Apart from a Bahamas penny coin struck in 1806, there were no special coin issues such as were found in Jamaica.

Fijian pound

The pound was the currency of Fiji between 1873 and 1969. It was subdivided into 20 shillings, each of 12 pence.

The pound was the currency of Western Samoa between 1914 and 1967. It was subdivided into 20 shillings, each of 12 pence.

The pound was the currency of the British Solomon Islands Protectorate between 1899 and 1966. It was divided into 20 shillings, each of 12 pence. Initially, sterling coin circulated, supplemented by local banknotes from 1916. In 1920, Australian coins and banknotes were introduced, although local paper money continued to be produced until 1932. When the Australian pound broke its parity to the sterling in 1930 during the great depression, this caused uncertainty in the British territories of the Western Pacific regarding whether their pound unit was a sterling or an Australian pound. This uncertainty prevailed into the mid-1930s and was only resolved when the matter was clarified by King's regulations. The final result was that all the British territories apart from Fiji adopted the Australian unit. As such, the British Solomon Islands Protectorate followed the course of Australia.

The history of Australian currency commences with the first European settlement of Australia on 26 January 1788. At the time, New South Wales was a British colony, and the English currency was in formal circulation, though the supply was insufficient and alternative forms of exchange were resorted to. A national Australian currency was created in 1910, as the Australian Pound, which in 1966 was decimalized as the Australian Dollar.

References