Falkland Islands pound facts for kids

Quick facts for kids Falkland Islands pound
ISO 4217 Code	FKP
User(s)	Falkland Islands (UK) alongside sterling  South Georgia and the South Sandwich Islands (UK) alongside sterling
Inflation	3.6%
Source	The World Factbook, 1998
Pegged with	pound sterling at par
Subunit
1⁄100	penny
Symbol	£
penny	p
Plural
penny	pence
Coins	1p, 2p, 5p, 10p, 20p, 50p, £1, £2
Banknotes	£5, £10, £20, £50

The Falkland Islands pound is the money used in the Falkland Islands. These islands are a British Overseas Territory located in the South Atlantic Ocean. The symbol for this money is the pound sign, which looks like £. Its special code, used worldwide, is FKP.

The Falkland Islands pound is always worth the same as the pound sterling, which is the money used in the United Kingdom. This means they have a "fixed exchange rate." You can use both Falkland Islands banknotes and UK banknotes on the islands. However, the Falkland Islands pound is not usually accepted in Britain.

History of the Falkland Islands Pound

The pound was first used in the Falkland Islands in 1833. This was after the British took back control of the islands. At first, people used British money, called sterling coin. One pound was divided into 20 shillings, and each shilling had 12 pence.

Special banknotes for the Falkland Islands have been made since 1899. In 1971, the money system changed to "decimalisation." This meant one pound was now divided into 100 (new) pence. Coins made just for the Falklands have been produced since 1974.

Falkland Islands Coins

In 1974, the first Falkland Islands coins were made. These included 1⁄2, 1, 2, 5, and 10 pence coins. Later, 50 pence coins were added in 1980, followed by 20 pence in 1982. A £1 coin came out in 1987, and a £2 coin in 2004.

The halfpenny coin was last made in 1983 and was soon taken out of use. Smaller versions of the 5p, 10p, and 50p coins were introduced in 1998. These matched the size of the UK coins. In 2020, a new 12-sided £1 coin was released. It looks and feels like the new £1 coin in the UK. The older round £1 coin will be removed from use in January 2023. All Falkland Islands coins are the same size and made of the same materials as the matching British coins.

Depiction of Falkland coinage

£0.01	£0.02	£0.05
Gentoo penguin on the 1p coin	Upland goose on the 2p coin	Black-browed albatross on the 5p coin
Gentoo penguin	Upland goose	Black-browed albatross
£0.10	£0.20	£0.50
South American sea lion on the 10p coin	Sheep on the 20p coin	Warrah on the 50p coin
South American sea lion	Sheep	Warrah
£1.00	£2.00	£2.00 edge
Falkland Islands coat of arms on the £1 coin	Map of the Falkland Islands on the £2 coin
Falkland Islands coat of arms	Map of the Falkland Islands

Falkland Islands Banknotes

Between 1899 and 1901, the Falkland Islands government started printing its own banknotes. These were for 5 shillings, 10 shillings, £1, and £5. The 5 shilling notes were printed until 1916.

After the money system changed in 1971, the old 10 shilling note became the new 50-pence note. It kept its original design. £10 notes were introduced in 1975, followed by £20 notes in 1984, and £50 notes in 1990.

Today, the banknotes in use are:

• £5 (red)
• £10 (green)
• £20 (brown)
• £50 (a mix of blue, green, and red)

All Falkland Islands banknotes have similar pictures. They only differ in their value and color. On the front, each note shows a picture of Queen Elizabeth II. It also has the Falklands' coat of arms. You can also see a small map of the islands and pictures of two important animals: penguins and sea lions.

On the back of the notes, you will find pictures of Christ Church Cathedral in Stanley. There is also a picture of Government House. This is where the governor of the Falkland Islands lives.

These banknotes are printed by a company called De la Rue plc. They print them for the Falkland Island Commissioners of Currency. In 2010, an order was placed for many £10 and £20 banknotes. This supply was expected to last for 15 to 20 years.

See also

• Economy of the Falkland Islands