Kiribati: Kiribati Dollar
Kiribati is a province in Australia which got independence from the giant island. It uses the Kiribati dollar as its official currency. The Kiribati however has its own coinage but the banknotes which it uses are of Kiribati government. The Kiribati banknotes are circulated in Kiribati since 1979. The Kiribati dollar sustained as the currency of the country even after the independence.
About Kiribati Currency
Kiribati currency has been the Australian dollar since a long time. The Australian coins were used by the country from 1966 to 1979. Kiribati was previously called as the Gilbert Islands. Before the introduction of Australian dollar¸ it was the Australian pound sterling was the official currency of the country. Today Australian dollar is used profoundly in the country. It was in 1979 that Kiribati got independence and started minting its own coins. The currency is pegged with the Australian dollar in the ratio of 1:1.
Kiribati Currency ISO 4217 Code
The ISO 4217 code for the Kiribati currency is AUD. This stands for the Australian dollar and is most commonly used between both the countries. There are many other countries which circulate the Australian dollar as their official currency. The other countries or states which use the Australian dollar are Ashmore and Cartier Islands‚ Australian Antarctic Territory‚ Christmas Island‚ Cocos (Keeling) Islands‚ Coral Sea Islands‚ Heard Island and McDonald. Tuvaluan is another country whose currency is pegged with the Australian dollar.
Kiribati Currency Banknotes Types
Kiribati circulates the banknotes which are issued by the Reserve Bank of Australia. The denominations in which the banknotes are produced are $5‚ $10‚ $20‚ $50‚ $100. There are 2 major series of the banknotes. The first series used paper to print the money and in the second series the banknotes which were printed were on a polymer sheet. The note sizes vary depending on the value of the banknote. $100 banknotes is the biggest in size were as the $5 banknote is the smallest. These variations are common in the currency of any country.
Kiribati Currency Coins Types
Kiribati started minting its own currency coins in 1979. The coins are circulated in the denominations of 1¸ 2¸ 5¸ 10¸ 20 and 50 cents and also $1. The coins are pegged with the Australian dollar. Except the 50c and $1 coins the rest are of the same size and weight. Therefore many people get confused of the lower denomination coins.
The symbols which are imprinted on the coins on the reverse side of the coin are given as per each denomination of the coins.
- 1 CENT: Christmas Island Frigate Birds
- 2 CENTS: B'abal Plant
- 5 CENTS: Tokai Gecko
- 10 CENTS: Unripened Breadfruit Plant
- 20 CENTS: Three Dolphins
- 50 CENTS: Panda Nut Plant
- 1 DOLLAR: Outrigger Canoe
$2 coin was introduced in 1989 as a mark of celebration of 10 years of minting. The symbol which is used on the coin Traditional Hut and the Hibiscus Blossom.
Currency Exchange Rate to other World Famous Currencies like US¸UK etc.
The present value of the Kiribati dollar in comparison to other major currencies is –
1 USD = 0.983514 AUD
1 EUR = 1.36145 AUD
1 GBP = 1.59705 AUD
For further information on the Kiribati dollar you can log on to: www.rba.gov.au