Saint Helena pound
| Saint Helena pound | |
|---|---|
| ISO 4217 code | SHP |
| User(s) | |
| Inflation | 3.2% |
| Source | The World Factbook, 1997 est. |
| Pegged with | pound sterling at par |
| Subunit | |
| 1/100 | penny |
| Symbol | £ |
| Plural | |
| penny | pence |
| Coins | 1, 2, 5, 10, 20, 50 pence, £1, £2 |
| Banknotes | £5, £10, £20 |
| Government | Government of Saint Helena |
| Website | www.sainthelena.gov.sh |
The Saint Helena pound (also called simply "pound") is the currency of the Atlantic islands of Saint Helena and Ascension, which are constituents of the British overseas territory of Saint Helena, Ascension and Tristan da Cunha. It is fixed at parity with the pound sterling and is subdivided into 100 pence.
Tristan da Cunha, the third part of the territory, uses Pound sterling rather than the St Helena pound. However there are occasionally commemorative coins minted for the island.[1]
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[edit] History
Initially, British currency circulated on St Helena, with the pound subdivided into 20 shillings, each of 12 pence. This was supplemented by occasional local issues of paper money. One coin, a copper halfpenny, was also struck specially for use in the islands in 1821. Prior to February 1961, the South African pound, which was then equal in value to sterling, was also accepted on the island, but this stopped with the introduction of the new decimal South African Rand, such that one rand was worth only ten shillings sterling. In 1976, the government began issuing notes, with circulation coins following in 1984.
For a more general history of currency in the South Atlantic region, see The Sterling Currency in the South Atlantic and the Antarctic.
[edit] Coins
Prior to 1984, both St Helena and Ascension Island had issued commemorative coins but used British circulation coins. In 1984, coins were introduced in the names of St Helena and Ascension in denominations of 1, 2, 5, 10 and 50 pence and 1 pound. All the coins were the same size and composition as the corresponding British coins. 20 pence coins were introduced in 1998, followed by 2 pounds in 2002, although the first bi-metal £2 coins were issued in and dated 2003.
[edit] Banknotes
From 1716, the Governor and Council of the Island of St Helena issued notes for 2½ and 5 shillings, 1 and 2 pounds. These were issued until the late 18th century. The next issue of notes occurred sometime after 1917. It was produced by the St Helena Currency Board in denominations of 5, 20 and 40 shillings.
In 1976, 1 and 5 pound notes were introduced by the government, followed in 1979 by 50 pence and 10 pound notes. The 1 pound note was replaced by a coin in 1984, with 20 pound notes introduced in 1986.
[edit] Notes for visitors
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This section is written like a travel guide rather than an encyclopedic description of the subject. Please help improve it by rewriting it in an encyclopedic style. (February 2010) |
St Helena does not have a central bank of its own, and the only banking services on the island are provided by a commercial bank, the Bank of St Helena. St Helena banknotes and coins are issued by the St Helena Government, not the Bank of St Helena.
Saint Helena banknotes are accepted on Saint Helena and Ascension Island only. Note that they cannot be exchanged in UK banks. They can be obtained while sailing to the island on the RMS Saint Helena, or from the Bank of St Helena on arrival. UK pound sterling banknotes are also accepted on the island. Some outlets may accept other major currencies. Notes and coins from other UK territories, including the Falkland Islands, are not normally accepted in outlets.
Credit cards and debit cards are not widely accepted on the island, so it is advisable to bring traveller's cheques, which can be exchanged at the Bank of St Helena, or cash. The Bank of St Helena can make cash advances on some major credit cards and debit cards.
[edit] Exchange rates
The latest exchange rates are published by the Bank of St Helena. Indicative rates for other currencies can be obtained as follows:
| Current SHP exchange rates | |
|---|---|
| From Google Finance: | AUD CAD CHF EUR GBP HKD JPY USD |
| From Yahoo! Finance: | AUD CAD CHF EUR GBP HKD JPY USD |
| From OzForex: | AUD CAD CHF EUR GBP HKD JPY USD |
| From XE.com: | AUD CAD CHF EUR GBP HKD JPY USD |
| From OANDA.com: | AUD CAD CHF EUR GBP HKD JPY USD |
[edit] See also
[edit] References
- ^ Tristan da Cunha Coins
- Krause, Chester L. and Clifford Mishler (1991). Standard Catalog of World Coins: 1801–1991 (18th ed. ed.). Krause Publications. ISBN 0873411501.
- Pick, Albert (1994). Standard Catalog of World Paper Money: General Issues. Colin R. Bruce II and Neil Shafer (editors) (7th ed.). Krause Publications. ISBN 0-87341-207-9.
[edit] External links
- Numismondo St Helena banknotes (historic and current)
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