Saint Helena Pound (SHP)

The Saint Helena Pound (SHP) is the official currency of the British Overseas Territory of Saint Helena, Ascension, and Tristan da Cunha. It is issued and regulated by the Government of Saint Helena.

The Saint Helena Pound is pegged to the British Pound (GBP) at a fixed exchange rate. This means that the value of the Saint Helena Pound is directly linked to the British Pound, and the exchange rate between the two currencies remains constant.

The currency is divided into 100 pence, similar to the British Pound. However, due to the limited economic activity and small population of the islands, the Saint Helena Pound has a relatively low usage and circulation. It is primarily used by the local population and businesses on the islands.

The Saint Helena Pound is legal tender within Saint Helena, Ascension, and Tristan da Cunha, meaning it is accepted for transactions and payments within these territories. However, outside of these territories, it is not widely recognized or accepted.

As the currency is pegged to the British Pound, the exchange rate between the Saint Helena Pound and other currencies will fluctuate based on the value of the British Pound in the international currency markets.

The primary use of the Saint Helena Pound is for local transactions, including retail purchases, services, and government transactions. It is also used for tourism-related activities, as the islands attract visitors from around the world.

In conclusion, the Saint Helena Pound is the official currency of Saint Helena, Ascension, and Tristan da Cunha. It is pegged to the British Pound and has a limited usage primarily within the islands. Its value and exchange rate are tied to the British Pound, and it is primarily used for local transactions and commerce.