History
The Rhodesian pound was introduced following the break-up of the Federation of Rhodesia and Nyasaland, when Southern Rhodesia changed its name to simply Rhodesia. The Rhodesian pound replaced the Rhodesia and Nyasaland pound at par and the coins and banknotes of this earlier currency continued to circulate.
Like its predecessor, the Rhodesian pound was initially pegged to the British pound. When the British pound was devalued from US$2.8 to US$2.4 in 1967, Rhodesia switched its peg to 1 pound = US$2.8. In 1970, the pound was replaced by the dollar, at a rate of 1 pound = 2 dollars, so R$1 was US$1.40.
Read more about this topic: Rhodesian Pound
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