Rhodesian dollar

Rhodesian dollar
1 dollar note
User(s)	Rhodesia
Subunit
1/100	cent
Symbol	$
Coins	½, 1, 2½, 5, 10, 20, 25 cents
Banknotes	1, 2, 5, 10 dollars
Central bank	Reserve Bank of Rhodesia

The dollar (R$) was the currency of Rhodesia between 1970 and 1980. It was subdivided into 100 cents.

History

The dollar was introduced on February 17, 1970, less than a month before the declaration of the Republic of Rhodesia on March 2, 1970. It replaced the pound at a rate of 2 dollars to 1 pound. The dollar proved to be a strong currency, at parity with the Pound sterling right up to the very end of Rhodesia in 1980, when it was replaced by the Zimbabwean dollar at par. However, it should be noted that the Rhodesian dollar was never a fully convertible currency and that its exchange rate was therefore no recognition of underlying economics.

Half Pounds

The Rhodesian dollar is not a true dollar in the sense that it is descended directly from the Spanish pieces of eight, as is the case with the US dollar, the Canadian dollar, and the East Caribbean Dollar. The Rhodesian dollar is essentially a half pound sterling. Rhodesia followed the pattern of South Africa, Australia, and New Zealand in that when it adopted the decimal system, it decided to use the half pound unit as opposed to the pound unit of account. The choice of the name dollar was motivated by the fact that the reduced value of the new unit corresponded more closely to the value of the US dollar than it did to the pound sterling. Other examples of dollars that are not true dollars for this same reason are, the Cayman Islands dollar, the Australian dollar, the New Zealand dollar, the Solomon Islands dollar, the Fiji dollar, the Namibian dollar, the Jamaican dollar, and the Zimbabwe dollar.

Examples of dollars that are directly related to the original Spanish dollar unit are the US dollar, the Canadian dollar, the Newfoundland dollar, the East Caribbean dollar, the Belize dollar, the Guyanese dollar, the Bermuda dollar, the Bahamian dollar, the Trinidad and Tobago dollar, the Barbados dollar, the Hong Kong dollar, the Straits dollar, the Malayan dollar, the Singapore dollar, and the Brunei dollar.

Coins

On February 17, 1970 the Rhodesian dollar was introducedand was par to the Pound the currency was factured as follows- bronze ½ and 1 cent and cupro-nickel 2½ cent coins were introduced, which circulated alongside the earlier coins of the Rhodesian pound for 5, 10, 20 and 25 cents, which were also denominated in shillings and pence. New 5 cent coins were introduced in 1973, followed by 10, 20 and 25 cents in 1975. Coins were issued until 1977.

Banknotes

In 1970, the Reserve bank of Rhodesia introduced notes in denominations of 1, 2 and 10 dollars. 5 dollar notes were added in 1972.

Obverse	Reverse	Denomination
		1 dollar
		2 dollars
		5 dollars
		10 dollars

Exchange rate history

This table shows the historical value of one Rhodesian dollar.

References

External links

• Republic of Rhodesia Currency
• Rhodesian Currency Page, with a short description of each note.