Rhodesian dollar
Encyclopedia
The dollar was the currency
of Rhodesia
between 1970 and 1980. It was subdivided into 100 cent
s.
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, the Rhodesian dollar was never a fully convertible currency and its exchange rate was therefore not an indication of the underlying economics.
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.
Currency
In economics, currency refers to a generally accepted medium of exchange. These are usually the coins and banknotes of a particular government, which comprise the physical aspects of a nation's money supply...
of Rhodesia
Rhodesia
Rhodesia , officially the Republic of Rhodesia from 1970, was an unrecognised state located in southern Africa that existed between 1965 and 1979 following its Unilateral Declaration of Independence from the United Kingdom on 11 November 1965...
between 1970 and 1980. It was subdivided into 100 cent
Cent (currency)
In many national currencies, the cent is a monetary unit that equals 1⁄100 of the basic monetary unit. Etymologically, the word cent derives from the Latin word "centum" meaning hundred. Cent also refers to a coin which is worth one cent....
s.
History
The dollar was introduced on February 17, 1970, less than a month before the declaration of a republicRepublic
A republic is a form of government in which the people, or some significant portion of them, have supreme control over the government and where offices of state are elected or chosen by elected people. In modern times, a common simplified definition of a republic is a government where the head of...
on March 2, 1970. It replaced the pound
Rhodesian pound
The pound was the currency of Rhodesia from 1964 until 1970. It was subdivided into 20 shillings, each of 12 pence.-History:The Rhodesian pound was introduced following the break-up of the Federation of Rhodesia and Nyasaland, when Southern Rhodesia changed its name to simply Rhodesia...
at a rate of 2 dollars to 1 pound. The dollar proved to be a strong currency, at parity with the pound sterling
Pound sterling
The pound sterling , commonly called the pound, is the official currency of the United Kingdom, its Crown Dependencies and the British Overseas Territories of South Georgia and the South Sandwich Islands, British Antarctic Territory and Tristan da Cunha. It is subdivided into 100 pence...
right up to the very end of Rhodesia in 1980, when it was replaced by the Zimbabwean dollar
Zimbabwean dollar
The Zimbabwean dollar was the official currency of Zimbabwe from 1980 to 12 April 2009....
at par. However, the Rhodesian dollar was never a fully convertible currency and its exchange rate was therefore not an indication of the underlying economics.
Half pounds
In adopting the Rhodesian dollar, 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.Coins
On February 17, 1970 the Rhodesian dollar was introduced and 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 poundRhodesian pound
The pound was the currency of Rhodesia from 1964 until 1970. It was subdivided into 20 shillings, each of 12 pence.-History:The Rhodesian pound was introduced following the break-up of the Federation of Rhodesia and Nyasaland, when Southern Rhodesia changed its name to simply Rhodesia...
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.| 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 |
External links
- Republic of Rhodesia Currency
- Rhodesian Currency Page, with a short description of each note.