Fijian pound facts for kids

Quick facts for kids Fijian pound
User(s)	Fiji
Subunit
1⁄20	shilling
1⁄240	penny
Symbol	£
shilling	s or /–
penny	d
Coins	1⁄2d, 1d, 3d, 6d, 1/–, 2/–
Banknotes
Freq. used	5/–, 10/–, £1, £5, £10, £20
Rarely used	1d, 1/–, 2/–

The pound (sign: £) was the money used in Fiji for many years, from 1873 until 1969. It was divided into smaller parts: 20 shillings made one pound. Each shilling was then divided into 12 pence.

The Fijian Pound: Fiji's Old Money

How Money Changed in Fiji

When Fiji was a British colony, people mostly used British money. But they also had some local paper money. In the 1930s, during a tough economic time called the Great Depression, banks in Australia and New Zealand changed the value of their money. This was done to help them sell more goods to the UK.

These banks also set the exchange rate for Fiji's money. In 1933, the Fijian pound's value was lowered. This made it similar to the New Zealand pound. Soon after, the New Zealand pound's value dropped even more to match the Australian pound.

Fiji Starts Making Its Own Coins

Because the Fijian pound was no longer worth the same as the British pound, Fiji started making its own coins in 1934. In 1967, the British pound's value changed again. Fiji quickly followed this change.

However, Fiji then thought about how this would affect things bought from other countries. They also watched what Australia and New Zealand would do. So, in November 1967, Fiji decided to change its pound's value slightly again. This made the Fijian pound closer to its original value compared to Australian and New Zealand money.

The Switch to the Fijian Dollar

In 1969, the Fijian pound was replaced by the Fijian dollar. One Fijian pound became two Fijian dollars. This made the new Fijian dollar worth about the same as the new dollars in Australia and New Zealand.

What Coins Were Used?

In 1934, Fiji introduced its first coins. These included 1⁄2d (half-penny), 1d (penny), 6d (sixpence), 1/– (one shilling), and 2/– (two shillings). It's interesting that there was no 3d (threepence) coin at first, which was common in other places using British money. This caused some debate!

Coin Sizes and Materials

The larger Fijian coins were the same size as British coins. But the half-penny and penny coins were smaller. They even had a hole in the middle and were made of a metal called cupro-nickel.

During World War II (1942 and 1943), some coins for Fiji were made in San Francisco, USA. These included brass half-penny and penny coins. The 6d, 1/–, and 2/– coins were made of 90% silver. Finally, in 1947, a 3d coin was introduced. It was made of nickel-brass and had 12 sides, just like the British threepence. Later, between 1953 and 1957, cupro-nickel replaced silver in coins.

Paper Money: Banknotes

Early Banknotes

The first paper money in Fiji appeared in 1871. These were £1 notes issued in Levuka, a town on Ovalau island. In 1873, the Fiji Banking and Commercial Company issued notes for 5/–, 10/–, £1, and £5.

Later, the Bank of New Zealand started issuing notes in 1876. These were for £1, £5, £10, and £20. They added 10/– notes in 1918. The Bank of New South Wales also issued £1 notes in 1901.

Government Banknotes

In 1914, the Fijian government started issuing its own banknotes through its Currency Board. These notes were for £1, £5, £10, and £20. They were printed in London. Because of the war, there was a shortage of silver. So, 10/– notes were introduced in 1918, followed by 5/– notes in 1920. These early government notes had fancy patterns but no pictures of people or places.

Also in 1920, the paper money from the private banks (Bank of New Zealand and Bank of New South Wales) was taken out of use.

New Designs and Emergency Money

A new design for all government banknotes came out in 1934. These notes featured a portrait of King George V. Apart from updated pictures of the reigning king or queen, the designs stayed mostly the same until 1969. During World War II, special emergency notes were also made for 1d, 1/–, and 2/–.