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Rhodesian dollar
From Wikipedia, the free encyclopedia
The dollar (R$) was the currency of Rhodesia between 1970 and 1980. It was divided into 100 cents.
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The dollar was introduced on February 17, 1970, less than a month before the declaration of the Republic of Rhodesia on March 2, 1970. It replaced the pound at a rate of 2 dollars to 1 pound. The quality of the printing was excellent and the dollar proved to be a strong currency, at parity with the Pound sterling right up to the very end of Rhodesia in 1980, when it was replaced by the Zimbabwean dollar at par.
It should be noted that the Rhodesian dollar was never a fully convertible currency, and its exchange rate was therefore no recognition of underlying economics.
This table shows the historical value of one Rhodesian dollar.
| Date | Official Rate | Free / Parallel Rate | notes |
|---|---|---|---|
| 1970 (Feb) | USD 1.40 | - | Parallel market starts 1970 (July) |
| 1971 (Aug) | ZAR 1.00 | (- 30%) ZAR 0.769 | Pegged to the ZA Rand |
| 1971 (Dec) | USD 1.52 | (- 30% to 40%) USD 1.09 to USD 1.17 | US dollar devalued |
| 1972 (July) | floated | (- 20% to 30%) | Floated at same time GBP was floated |
| 1972 (Oct) | USD 1.52; ZAR 1.19 | - | - |
| 1973 (Feb) | USD 1.69 | - | USD devalued |
| 1973 (Jun) | USD 1.773; ZAR 1.19 | - | ZA Rand and R$ 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) | - | - | 1 Zimbabwean dollar = 1 Rhodesian dollar |
| 1981 | - | - | Rhodesian dollar demonetised under Statutory Instrument 378 of the Government of Zimbabwe |
Coins were issued in denominations of ½, 1, 2½, 5, 10, 20 and 25 cents. For more information, see Coins of the Rhodesian dollar.
| Preceded by: Rhodesian pound Reason: decimalization Ratio: 2 dollars = 1 pound |
Currency of Zimbabwe 1970 – 1980 |
Succeeded by: Zimbabwean dollar Reason: independence recognized Ratio: at par |