Saint Helena pound
ISO 4217 Code	SHP
User(s)	Saint Helena (UK), alongside Pound sterling
Inflation	3.2%
Source	The World Factbook, 1997 est.
Pegged with	pound sterling at par
Subunit
1/100	penny
Symbol	£
Plural
penny	pence
Coins	1, 2, 5, 10, 20, 50 pence, £1, £2
Banknotes	£5, £10, £20
Government	Government of Saint Helena
Website	www.sainthelena.gov.sh

The Saint Helena pound (also called simply "pound") is the currency of the British overseas territories of Saint Helena and Ascension Island. It is fixed at parity with the pound sterling and is subdivided into 100 pence.

[edit] History

Initially, British currency circulated on St Helena, with the pound subdivided into 20 shillings, each of 12 pence. This was supplemented by occasional local issues of paper money. One coin, a copper halfpenny, was also struck specially for use in the islands in 1821. Prior to February 1961, the South African pound (equal in value to sterling) was also accepted on the island but was withdrawn due to decimalization in South Africa (U.K. decimalization did not occur until February, 1971). In 1976, the government began issuing notes, with circulation coins following in 1984.

[edit] Coins

Prior to 1984, both St Helena and Ascension Island had issued commemorative coins but used British circulation coins. In 1984, coins were introduced in the names of St Helena and Ascension in denominations of 1, 2, 5, 10 and 50 pence and 1 pound. All the coins were the same size and composition as the corresponding British coins. 20 pence coins were introduced in 1998, followed by 2 pounds in 2002, although the first bi-metal £2 coins were issued in and dated 2003.

[edit] Banknotes

From 1716, the Governor and Council of the Island of St Helena issued notes for 2½ and 5 shillings, 1 and 2 pounds. These were issued until the late 18th century. The next issue of notes occurred sometime after 1917. It was produced by the St Helena Currency Board in denominations of 5, 20 and 40 shillings.

In 1976, 1 and 5 pound notes were introduced by the government, followed in 1979 by 50 pence and 10 pound notes. The 1 pound note was replaced by a coin in 1984, with 20 pound notes introduced in 1986.

[edit] Notes for visitors

St Helena does not have a central bank of its own, and the only banking services on the island are provided by a commercial bank, the Bank of St Helena. St Helena banknotes and coins are issued by the St Helena Government, not the Bank of St Helena. (For more information please see the Bank of St Helena website www.sainthelenabank.com)

Saint Helena banknotes are accepted on Saint Helena and Ascension Island only. Note that they cannot be exchanged in UK banks. They can be obtained while sailing to the island on the RMS Saint Helena, or from the Bank of St Helena on arrival. UK pound sterling banknotes are also accepted on the island. Some outlets may accept other major currencies. Notes and coins from other UK territories, including the Falkland Islands are not normally accepted in outlets.

Credit cards and debit cards are not widely accepted on the island, so it is advisable to bring traveller's cheques, which can be exchanged at the Bank of St Helena, or cash. The Bank of St Helena can make cash advances on some major credit cards and debit cards.

[edit] Exchange rates

To see the latest exchange rates published by the Bank of St Helena please refer to its website at www.sainthelenabank.com

Indicative rates for other currencies can be obtained as follows:

[edit] See also

• Bank of St Helena
• Coins of the Saint Helena pound
• Economy of Saint Helena

[edit] References

[edit] External links