Falkland Islands - P-10a PMG Grade 66 - Foreign Paper Money

50 Pence, P-10a. PMG Grade 66. Printer: TDLR.

The Pound is the currency of the Falkland Islands, a British Overseas Territory in the South Atlantic Ocean. The symbol is the pound sign, £, or alternatively FK£, to distinguish it from other pound-denominated currencies. The ISO 4217 currency code is FKP.

The Falkland Islands pound has always been pegged to the pound sterling at par and banknotes of both currencies are used interchangeably on the islands (although only notes issued by banks in the United Kingdom are generally accepted in Britain itself).

The pound was introduced following the reassertion of sovereignty in the Falklands Islands by the British in 1833. Initially, the British currency circulated, with the pound subdivided into 20 shillings, each of 12 pence. Specific issues of banknotes have been made for the Falkland Islands since 1899, authorised by the Falkland Islands Currency Notes Order 1899. In 1971, the pound was decimalised and subdivided into 100 pence. Coins have been minted specifically for the Falklands since 1974.

For a more general history of currency in the South Atlantic region, see Pound sterling in the South Atlantic and the Antarctic.

In Falkland Islands law, the Currency Ordinance 1987 states that the Falkland Islands pound is the currency of the Falkland Islands, and that it has parity with the pound sterling.

References to 'pounds' in the Falklands Islands (such as in contracts and debts) refer to the Falkland Islands pound.

Falkland Island pounds can be exchanged for pound sterling on demand, but the Currency Commissioners are entitled to charge a percentage fee for doing so.

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