St. Helena Pound

Overview

The St. Helena Pound is the official currency of the Saint Helena and Ascension, two islands in the Atlantic Ocean that are members of the British Overseas Territory of Saint Helena, Ascension, and Tristan da Cunha (which uses the British Pound). The St. Helena Pound is pegged to the British Pound at par.

Economy

• St. Helena and Ascension Island are small, isolated islands in the Atlantic Ocean, with populations of ~4,300 and ~900 people, respectively.
• The economies of St. Helena and Ascension Island are heavily dependent on government support, either in the form of aid, or in Ascension Island’s case, the military.
• Tourism to the region is relatively limited, though St. Helena gets some tourism as visitors come to see the place of Napoleon’s imprisonment.
• Postage stamps are amongst the leading exports of the region. St. Helena also exports coffee that is said to be amongst the world’s most expensive beans.

History

• St. Helena has a long history of issuing its own notes, relative to other British colonies. From 1716 until the late 18th century, notes were issued in Shilling and Pound denominations.
• In 1917, another round of notes was issued in denominations of 5, 20, and 40 shillings.
• The first of the modern St. Helena Pound banknotes were issued in 1976. Prior to that date, both the British Pound(at par) and South African Pound had been accepted on the islands.
• The first St. Helena Pound coins were issued in 1984, in denominations of 1, 2, 5, 10, and 50 pence, as well as 1 Pound.