Rhodesian dollar
From Wikipedia, the free encyclopedia
| Rhodesian dollar | |||
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| User(s) |  Rhodesia |
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|---|---|---|---|
| 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$) was the currency of Rhodesia between 1970 and 1980. It was subdivided into 100 cents.
Contents |
[edit] History
The dollar was introduced on February 17, 1970, less than a month before the declaration of the Republic of Rhodesia on March 2, 1970. It replaced the pound at a rate of 2 dollars to 1 pound. The dollar proved to be a strong currency, at parity with the Pound sterling right up to the very end of Rhodesia in 1980, when it was replaced by the Zimbabwean dollar at par. However, it should be noted that the Rhodesian dollar was never a fully convertible currency and that its exchange rate was therefore no recognition of underlying economics.
[edit] Coins
In 1970, bronze ½ and 1 cent and cupro-nickel 2½ cent coins were introduced, which circulated alongside the earlier coins of the Rhodesian pound for 5, 10, 20 and 25 cents, which were also denominated in shillings and pence. New 5 cent coins were introduced in 1973, followed by 10, 20 and 25 cents in 1975. Coins were issued until 1977.
[edit] Banknotes
In 1970, the Reserve bank of Rhodesia introduced notes in denominations of 1, 2 and 10 dollars. 5 dollar notes were added in 1972.
| Obverse | Reverse | Denomination |
|---|---|---|
 |
 |
1 dollar |
 |
 |
2 dollars |
 |
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5 dollars |
 |
 |
10 dollars |
[edit] Exchange rate history
This table shows the historical value of one Rhodesian dollar.
| Date | Official Rate | Free / Parallel Rate | notes |
|---|---|---|---|
| 1970 (Feb) | USD 1.40 | - | Parallel market starts 1970 (July) |
| 1971 (Aug) | ZAR 1.00 | (- 30%) ZAR 0.769 | Pegged to the ZA Rand |
| 1971 (Dec) | USD 1.52 | (- 30% to 40%) USD 1.09 to USD 1.17 | US dollar devalued |
| 1972 (July) | floated | (- 20% to 30%) | Floated at same time GBP was floated |
| 1972 (Oct) | USD 1.52; ZAR 1.19 | - | - |
| 1973 (Feb) | USD 1.69 | - | USD devalued |
| 1973 (Jun) | USD 1.773; ZAR 1.19 | - | ZA Rand and R$ revalued against USD |
| 1975 (Sep) | USD 1.60; ZAR 1.34 | - | R$ devalued against USD and ZAR |
| 1977 (Oct) | USD 1.50; ZAR 1.30 | - | R$ devalued against USD and ZAR |
| 1980 (Mar) | - | - | Pegged to flexible basket (FRF, DEM, ZAR, CHF, GBP, USD) |
| 1980 (Apr) | - | - | Replacement by the Zimbabwean dollar Z$ 1 = R$ 1 |
| 1981 | - | - | Rhodesian dollar demonetised under Statutory Instrument 378 of the Government of Zimbabwe |
[edit] References
- Krause, Chester L. and Clifford Mishler (1991). Standard Catalog of World Coins: 1801-1991, 18th ed., Krause Publications. ISBN 0-87341-150-1.
- 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
- Don's World Coin Gallery - Rhodesia
- Ron Wise's World Paper Money - Rhodesia Mirror site
- Tables of Modern Monetary Systems by Kurt Schuler - Zimbabwe Mirror site
- The Global History of Currencies - Zimbabwe
- Global Financial Data currency histories table (
Microsoft Excel format) - Republic of Rhodesia Currency
| Preceded by: Rhodesian pound Reason: decimalization Ratio: 2 dollars = 1 pound |
Currency of Zimbabwe 1970 – 1980 |
Succeeded by: Zimbabwean dollar Reason: independence recognized Ratio: at par |
