History
Before independence, Australian coins were used in Kiribati (then called the Gilbert Islands) from 1966 until 1979. Previous to Australia's introduction of the dollar, the Australian pound sterling was chiefly used throughout the islands, though Gilbert and Ellice Islands banknotes issued in the 1940s were also in use and were redeemable for Pound Sterling at face value.
During Japanese occupation of the islands during World War II, the Oceanian pound, an all banknote currency created by the Japanese Government to be a universal currency for the pacific, was in use. The Australian pound was restored as the official national currency after the war ended.
A call to issue coinage for an independent Kiribati in 1979 was made to legitimize its new political status, and although Australian banknotes would be used, the decision to issue domestic coins was widely favored and accepted. A two dollar coin was later introduced to replace the note and celebrate the nation's tenth anniversary.
Read more about this topic: Kiribati Dollar
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