Solomon Islands dollar
Worldwide use:
- Soloman Islands
Description:
The currency of the Solomon Islands is the Solomon Islands Dollar. Previous issues of notes depicted Queen Elizabeth II. However, from 1980, more recent issues of Solomon Island notes have depicted scenes of traditional life along with items that are seen as culturally important in the islands. The coins are denominated in 10, 20 and 50 Cents as well as SI$1 and SI$2 coins. The notes come in SI$5, SI$10, SI$20, SI$50 and SI$100 form.
Following independence in 1977 the Australian Dollar was replaced by the Soloman Islands Dollar at par. Due to years of economic stagnation and as a result of the civil war 2000 – 2003, the Dollar has reduced in value and it now stands at 1SBD to 15 Australian Cents. Some Islanders give the coins as souvenirs to their children and in some areas old forms of currency, such as dolphins teeth, have replaced the use of coins.
Origin:
The Soloman Islands Dollar is not a true dollar in the sense that it is not descended from the Spanish pieces of eight like the US and Canadian Dollar. It is in fact an offshoot of the Australian dollar which itself was essentially a half Pound Sterling. The name dollar was used as it was felt the value of the SI$ was more in line with the US Dollar and not the Pound Sterling which was in line with the AUS Dollar.
Component units:
- cents (100)
Date introduced:
- 1977
Central bank:
- Central Bank of Solomon Islands
Printer:
Mint:
