Falkland Islands Pound (FKP)

The Falkland Islands Pound (FKP) is the official currency of the Falkland Islands, a British Overseas Territory located in the South Atlantic Ocean. The currency is issued and regulated by the Falkland Islands Government.

Key details about the Falkland Islands Pound include:

1. Currency Symbol: The currency symbol for the Falkland Islands Pound is £, which is the same symbol used for the British Pound Sterling (GBP).

2. Exchange Rate: The exchange rate between the Falkland Islands Pound and the British Pound Sterling is fixed at a 1:1 ratio. This means that one Falkland Islands Pound is equivalent to one British Pound.

3. Legal Tender: The Falkland Islands Pound is the legal tender within the Falkland Islands. However, British Pound Sterling is also widely accepted and used in the territory.

4. Coins and Banknotes: The Falkland Islands Pound is available in both coins and banknotes. Coins are available in denominations of 1p, 2p, 5p, 10p, 20p, 50p, £1, and £2. Banknotes are available in denominations of £5, £10, £20, and £50.

5. Currency Control: The Falkland Islands Government controls the issuance and regulation of the Falkland Islands Pound. The currency is not freely convertible and is primarily used within the territory.

6. Economy and Usage: The Falkland Islands economy is primarily based on fishing, agriculture, and tourism. The Falkland Islands Pound is used for local transactions and is also accepted by some businesses in neighboring countries, such as Argentina and Chile.

7. Exchange Outside the Falkland Islands: Since the Falkland Islands Pound is not widely used or recognized outside the territory, it may be difficult to exchange it in other countries. Travelers are advised to exchange their Falkland Islands Pounds back to British Pounds before leaving the Falkland Islands.

It’s important to note that the Falkland Islands Pound is specific to the Falkland Islands and is not used in other parts of the world.