The dollar (ISO 4217 code: SBD) is the currency of the Solomon Islands since 1977. It is normally abbreviated with the dollar sign "$" or, alternatively "SI$" to distinguish it from other dollar-denominated currencies. It is subdivided into 100 cents.
For earlier currencies of the Solomon Islands, see Solomon Islands pound and Oceania pound. The Solomon Islands dollar was introduced in 1977, replacing the Australian dollar at par, following independence. Until 1979, the two dollars remained equal. After a period of five months pegged at SI$1.05 = AU$1, the currency floated. Over the next 28 years, and especially during the civil war of 2000-2003, inflation has taken its toll, with the Solomon Islands dollar now equal to 20 Australian cents.
Coins
In 1977, coins were introduced in denominations of 1, 2, 5, 10 and 20 cents and 1 dollar. The cent coins were all the same sizes and compositions as the corresponding Australian coins, with the 1 dollar an equilaterally curved heptagonal coin minted in cupro-nickel. In 1985, bronze-plated steel replaced bronze in the 1 and 2 cents, with nickel-clad steel replacing cupro-nickel in the 10 and 20 cents in 1990. 1990 also saw the introduction of 50 cents coins, which were dodecagonal and minted in cupro-nickel. The 1 and 2 cents were last minted in 1987 and no longer circulate. All the coins of the Solomon Islands bear the portrait of the country's head of state, Queen Elizabeth II.
Banknotes
In 1977, banknotes were introduced in denominations of 2, 5 and 10 dollars, with 20 dollars notes added in 1981. 50 dollars notes were introduced in 1986, followed by 100 dollars in 2006.[1]. A polymer two dollar banknote was issued in 2001 to replace the cotton fibre issue, but the banknote was reverted back to cotton in the 2006 series.
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