Solomon Islands Dollar (SBD)
Tue, Apr 15The Solomon Islands Dollar (SBD) serves as the official currency of the Solomon Islands, an island nation located in the South Pacific. The Central Bank of Solomon Islands oversees the currency, managing the issuance and regulation of the country's money supply. The currency code for the Solomon Islands Dollar is SBD, and it is commonly represented by the symbol “SI$”.
The Solomon Islands Dollar was launched on January 24, 1977, replacing the Australian Dollar (AUD) at an equal value, meaning that 1 Solomon Islands Dollar was equivalent to 1 Australian Dollar at that time. Prior to the establishment of the Solomon Islands Dollar, the Australian Dollar was the official currency, as the nation was a British protectorate from 1893 until it achieved independence in 1978.
The Solomon Islands Dollar is divided into 100 smaller units known as cents. Coins are available in denominations of 10, 20, and 50 cents, as well as 1 and 2 Solomon Islands Dollars. Banknotes can be found in denominations of 5, 10, 20, 50, and 100 Solomon Islands Dollars. The designs featured on the coins and banknotes often showcase local wildlife, cultural symbols, and significant historical figures and events, highlighting the nation’s rich heritage and natural surroundings.
The exchange rate of the Solomon Islands Dollar can vary due to several factors, including the nation’s economic performance, inflation, and the supply and demand for the currency in global markets. To check the current exchange rate between the Solomon Islands Dollar and other currencies, one can refer to financial sources or utilize currency converter tools.
The economy of the Solomon Islands primarily relies on agriculture, forestry, and fishing, with the export of raw materials such as timber, palm oil, and fish playing a significant role in the nation’s GDP. Additionally, the tourism sector is expanding in the Solomon Islands, drawing visitors with its unspoiled beaches, rich cultural heritage, and World War II historical sites.
The Solomon Islands Dollar is the official currency of the Solomon Islands, managed by the Central Bank of Solomon Islands. It was introduced in 1977, replacing the Australian Dollar at par. The currency is subdivided into 100 cents, with various denominations of coins and banknotes available. The economy of the Solomon Islands is mainly based on agriculture, forestry, and fishing, with tourism emerging as a growing sector.
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