Rhodesian dollar
1 dollar note
ISO 4217
CodeRHD
Denominations
Subunit
1100cent
Symbol$
Banknotes1, 2, 5, 10 dollars
Coins12, 1, 2+12, 5, 10, 20, 25 cents
Demographics
User(s) Rhodesia
Issuance
Central bankReserve Bank of Rhodesia
This infobox shows the latest status before this currency was rendered obsolete.

The Rhodesian dollar (R$ or Rh$) was the currency of Rhodesia between 1970 and 1980. It was subdivided into 100 cents.

History

The dollar was introduced on 17 February 1970, less than a month before the declaration of a republic on 2 March 1970. It replaced the Rhodesian pound at a rate of 2 dollars to 1 pound. 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. However, the Rhodesian dollar was never a fully convertible currency and its exchange rate was therefore not an indication of the underlying economics.

Half pound

In adopting the Rhodesian dollar, Rhodesia followed the pattern of South Africa, Australia, and New Zealand in that when it adopted the decimal system, it decided to use the half pound unit as opposed to the pound unit of account. The choice of the name dollar was favoured by the then Minister of Finance, John Wrathall, who regarded it as having international substance.[1]

Coins

Main article: Coins of the Rhodesian dollar

On 17 February 1970 the Rhodesian dollar was introduced and was par to the Pound; the currency was manufactured as follows - bronze 12 and 1 cent and cupro-nickel 2+12 cent coins were introduced, which circulated alongside the earlier coins of the Rhodesian pound for 5, 10, 20 and 25 cents, which were also denominated in shillings and pence. New 5-cent coins were introduced in 1973, followed by 10, 20 and 25 cents in 1975. Coins were struck until 1977 at the South African Mint in Pretoria.

Rhodesia had both 1/2 Cent and 2-1/2 Cents coins, just like in South Africa.

The 1/2 Cent coin was struck between 1970 and 1977 - with the 1977 1/2 Cent being extremely rare, with 10 coins known.

The 2-1/2 Cents (Tickey) was struck in 1970 only.

The 5 Cents was struck in 1973 and between 1975 and 1977.

The 10 and 25 Cents was struck in 1975 only.

The 20 Cents was struck in 1975 and 1977.

Tommy Sasseen was the designer of all Rhodesian coins from 1964 to 1968 (reverse only) and 1970 to 1977 (both obverse and reverse).

Banknotes

On 17 February 1970, the Reserve Bank of Rhodesia introduced notes in denominations of 1, 2 and 10 dollars.[2] 5-dollar notes were added in 1972.

Image Value Dimensions Main Colour
Obverse Reverse
1 dollar Unknown Blue
2 dollars Unknown Red
5 dollars Unknown Orange (brown background)
10 dollars Unknown Grey

Exchange rate history

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 US$1.17 US dollar devalued
1972 (July) floated (- 20% to 30%) Floated at same time GBP was floated
1972 (Oct) USD 1.52; ZAR 1.19 - -
1973 (Feb) USD 1.69 - USD devalued
1973 (Jun) USD 1.773; ZAR 1.19 - ZA Rand and R$ 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 (- 69%) USD 0.46; ZAR 0.40 R$ devalued against USD and ZAR
1980 (Mar) - - Pegged to flexible basket (FRF, DEM, ZAR, CHF, GBP, USD)
1980 (Apr) - - Replacement by the Zimbabwean dollar Z$1 = R$1
1981 - - Rhodesian dollar demonetised under Statutory Instrument 378 of the Government of Zimbabwe

References

  1. ^ Unpopular Sovereignty: Rhodesian Independence and African Decolonization, Luise White, University of Chicago Press, 2015, page 124
  2. ^ Linzmayer, Owen (2012). "Rhodesia". The Banknote Book. San Francisco, CA: BanknoteNews.com.
Preceded by:
Rhodesian pound
Reason: decimalization
Ratio: 2 dollars = 1 pound
Currency of Rhodesia
(Zimbabwe since 1980)

1970 – 1980
Succeeded by:
Zimbabwean dollar
Reason: independence recognized
Ratio: at par