Kiribati Dollar - Banknotes

Banknotes

Australian Pound Sterling banknotes were first introduced to the region in 1914 shortly before the Gilbert Islands gained status from a protectorate to a crown colony of Great Britain in 1916. These continued to be the main source of exchange until the decimalization of 1966.

In 1942, local banknotes were issued under the authority of the Gilbert and Ellice Islands Government and were locally produced with a primitive and austere design. These notes were valued on parity with sterling and issued in denominations of 1, 2, 5, and 10 shillings and 1 pound. After the wartime emergency had passed these notes were discontinued and gradually phased out. Due to their scarcity, these notes are highly collectable.

In 1966, the new Australian dollar became the new official currency of The Gilbert and Ellice islands, replacing the pound notes. Initially only 1, 2, 5, 10 dollars were used, but 20, 50, and 100 dollars were later sent for use. This continued to be the official currency after the breakup of the joint Gilbert and Ellice colonies and following independence of the Gilberts and annexed territories as Kiribati. The 1 dollar notes circulated alongside a local coin.

The 1 and 2 dollar notes were later withdrawn in favor of both Kiribati and Australian issued coins.