Fijian pound
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The pound (sign: £) was the currency of
Fiji Fiji ( , ,; fj, Viti, ; Fiji Hindi: फ़िजी, ''Fijī''), officially the Republic of Fiji, is an island country in Melanesia, part of Oceania in the South Pacific Ocean. It lies about north-northeast of New Zealand. Fiji consists ...
between 1873 and 1969. It was subdivided into 20
shilling The shilling is a historical coin, and the name of a unit of modern currencies formerly used in the United Kingdom, Australia, New Zealand, other British Commonwealth countries and Ireland, where they were generally equivalent to 12 pence o ...
s, each of 12
pence A penny is a coin ( pennies) or a unit of currency (pl. pence) in various countries. Borrowed from the Carolingian denarius (hence its former abbreviation d.), it is usually the smallest denomination within a currency system. Presently, it is th ...
.


History

From its earliest days as a British colony, sterling coinage circulated in Fiji, supplemented by locally produced paper money. During the
Great Depression The Great Depression (19291939) was an economic shock that impacted most countries across the world. It was a period of economic depression that became evident after a major fall in stock prices in the United States. The economic contagio ...
of the 1930s, the Australian and New Zealand banks devalued their currencies in order to bolster exports to the UK. These banks also controlled the exchange rate for Fiji, and in 1933 the Fiji pound was devalued to £1/2/3 Fijian = £1 stg, in order to bring it into line with the devalued New Zealand pound, even though the
New Zealand pound The pound (symbol £, £NZ. for distinction) was the currency of New Zealand from 1840 until 1967, when it was replaced by the New Zealand dollar. Like the pound sterling, it was subdivided into 20 shillings (abbreviation s or /) each of 12 pen ...
would very shortly devalue further to bring it into line with the
Australian pound The pound ( Sign: £, £A for distinction) was the currency of Australia from 1910 until 14 February 1966, when it was replaced by the Australian dollar. As with other £sd currencies, it was subdivided into 20 shillings (denoted by the symbol ...
. In 1934, as a result of the break in parity with sterling, Fiji began to issue its own coins. When sterling was devalued on 20 November 1967, Fiji immediately followed suit. However, over the next week, Fiji considered the adverse effects that this devaluation would have on imports to Fiji while keeping an eye on how Australia and New Zealand would respond to the situation. On 28 November 1967, Fiji decided to partially revalue its pound, hence resulting in a sterling exchange rate of £104/10/– Fijian = £100 stg. This had the effect of bringing the Fijian pound closer to its original relationship to the Australian and New Zealand units as existed prior to the upheavals which took place in the exchange rates at the time of the Great Depression. In 1969, the Fijian pound was replaced by the
Fijian dollar The Fijian dollar (currency sign: FJ$, Dollar sign, $; ISO 4217, currency code: FJD) has been the currency of Fiji since 1969 and was also the currency between 1867 and 1873. It is normally abbreviated with the dollar sign $, or alternatively ...
at a rate of £1 = FJ$2 such that the new Fijian dollar was approximately equal to the new dollars in Australia and New Zealand. For a more general view of history in the wider region, see
British currency in Oceania Sterling was the currency of many, but not all parts of the British Empire. This article looks at the history of sterling in the Australia, New Zealand, and Pacific region. History The British victory at the Battle of Waterloo in 1815 heralded t ...
.


Coins

In 1934, coins were introduced in denominations of d, 1d and 6d, 1/– and 2/–. A notable absence from this list is the 3d denomination which existed in all other territories which used sterling coinage. The absence of a 3d coin was a matter of considerable controversy. The larger denomination Fijian coins were the same size as the corresponding British coins, whereas the d and 1d were smaller, holed, and struck in
cupro-nickel Cupronickel or copper-nickel (CuNi) is an alloy of copper that contains nickel and strengthening elements, such as iron and manganese. The copper content typically varies from 60 to 90 percent. (Monel is a nickel-copper alloy that contains a minimu ...
. In 1942 and 1943, coins were produced for Fiji at the
San Francisco San Francisco (; Spanish language, Spanish for "Francis of Assisi, Saint Francis"), officially the City and County of San Francisco, is the commercial, financial, and cultural center of Northern California. The city proper is the List of Ca ...
mint, resulting in
brass Brass is an alloy of copper (Cu) and zinc (Zn), in proportions which can be varied to achieve different mechanical, electrical, and chemical properties. It is a substitutional alloy: atoms of the two constituents may replace each other with ...
d and 1d coins and 90% silver 6d, 1/– and 2/– coins. In 1947, a nickel-brass dodecagonal 3d coin of identical size and shape to the corresponding Sterling coin was finally introduced. Cupro-nickel replaced silver between 1953 and 1957.


Banknotes

In 1871, £1 notes were issued at
Levuka Levuka () is a Local government in Fiji, town on the eastern coast of the Fijian island of Ovalau (Fiji), Ovalau, in Lomaiviti Province, in the Eastern Division, Fiji, Eastern Division of Fiji. Prior to 1877, it was the capital of Fiji. At the c ...
on the island of Ovalau. These were followed in 1873 by notes of the Fiji Banking and Commercial Company in denominations of 5/– and 10/– and £1 and £5. The
Bank of New Zealand Bank of New Zealand (BNZ) is one of New Zealand's Big Four (banking), big four banks and has been operating in the country since the first office was opened in Auckland in October 1861 followed shortly after by the first branch in Dunedin in D ...
introduced notes in 1876 in denominations of £1, £5, £10 and £20, followed by 10/– notes in 1918.
Bank of New South Wales The Bank of New South Wales (BNSW), also known commonly as The Wales, was the first bank in Australia, being established in Sydney in 1817 and situated on Broadway, New South Wales, Broadway. During the 19th century, the bank opened branches ...
issued £1 notes in 1901. In 1914, the Fijian government Currency Board introduced its own banknotes: £1, £5, £10 and £20 denominations which were printed by
Thomas de la Rue Thomas de la Rue (24 March 1793 – 7 June 1866) was a printer from Guernsey who founded De La Rue plc, a printing company which is now the world's largest commercial security printer and papermaker. Biography Born on Le Bourg, Forest, Guernsey to ...
in London. Due to wartime conditions creating a shortage of silver, 10/- notes were introduced in 1918, followed by 5/– in 1920. All notes of this first issue have a guilloche and scrollwork design, while lacking a vignette. Also in 1920, the private trading banknotes of the Bank of New Zealand and Bank of New South Wales were withdrawn from circulation. A new design second issue of all denominations featuring the portrait of King George V were introduced in 1934. Apart from revised portraits of the reigning monarch, these notes were largely the same design until 1969. Emergency issues were also made during
World War II World War II or the Second World War, often abbreviated as WWII or WW2, was a world war that lasted from 1939 to 1945. It involved the vast majority of the world's countries—including all of the great powers—forming two opposin ...
for 1d, 1/– and 2/–.


References

* * * {{DEFAULTSORT:Fijian Pound Currencies of the British Empire Currencies of the Commonwealth of Nations Currencies of Fiji Currencies of Oceania History of Fiji Modern obsolete currencies 1873 establishments in Fiji 1969 disestablishments in Fiji Colony of Fiji