Falkland Islands Pound flag

Falkland Islands Pound

Falkland Islands Pound

Currency Code

FKP

ISO 238

Symbol

FKP

Native: £

Decimal Digits

2

Rounding: 0

Countries

FK

Using this currency

Currency Units

Major Unit

Name: pound

Symbol: £

Minor Unit

Name: penny

Symbol: p

Value: 0.01

Banknotes

Frequently Used

£5£10£20£50

Coins

Frequently Used

1p2p5p10p20p50p£1£2

Plural Forms

English Plural

Falkland Islands pounds

Native Plural

Falkland Islands Pounds

Overview

The Falkland Islands Pound is the currency of the Falkland Islands, pegged to the British pound at par. It is issued by the Government of the Falkland Islands and serves the islands' small but prosperous economy based on fishing and agriculture.

Economy

  • Falkland Islands is a member of Associated with UK, Commonwealth (through UK).
  • Main industries include: Fish and squid fishing, Tourism, Sheep farming, Agriculture.
  • Imports are fuel, food and drink, building materials, clothing.
  • Major exports include fish and fish products, squid, wool, hides.
  • GDP: $206.4 million (2015 est.).
  • GDP per capita: $70,800 (2015 est.).
  • Unemployment rate: 1% (2016 est.).
  • Inflation rate: 1.4% (2014 est.).
  • Main trading partners: Spain, Namibia, South Korea, United Kingdom, Chile, Greece.
  • Trade agreements: Through UK agreements, EU agreements (post-Brexit arrangements).

History

  • Previous currencies used: British pound (circulated alongside), Argentine peso (brief occupation 1982).
  • The Falkland Islands pound was introduced in 1899, initially circulating alongside British currency. It has maintained parity with the British pound throughout its history.
  • 1899: First Falkland Islands currency issued
  • 1974: Falkland Islands pound formally established
  • 1982: Falklands War impact on economy
  • 1986: Fishing licenses established as major revenue source
  • 2013: Self-sufficiency achieved through fishing revenue
  • Exchange rate peg: GBP (1899-present) at 1:1 parity.
  • Currently pegged to GBP at 1 FKP = 1 GBP.

General Information

  • ISO 4217 Code: FKP
  • Symbols: FKP/£
  • Currency Subunits: 100 pence
  • Central Bank: Government of the Falkland Islands (no central bank)
  • Monetary Policy: Currency board system maintaining GBP parity. Monetary policy follows Bank of England decisions.
  • Bills: 5 FKP, 10 FKP, 20 FKP, 50 FKP
  • Coins: 1 penny, 2 pence, 5 pence, 10 pence, 20 pence, 50 pence, 1 pound, 2 pounds
  • USD Exchange Rate: Variable (follows GBP rate, approximately 0.79 FKP per USD)
  • Pegged To: GBP at 1 FKP = 1 GBP
  • Capital: Stanley
  • Population: 3,198 (2021 est.)
  • Area: 12,173 km²
  • Languages: English (official)
  • Time Zones: UTC-3 (Falkland Islands Time)
  • Government Type: Parliamentary democracy under constitutional monarchy (British Overseas Territory)
  • Head of Government: Governor (representing British Crown), Chief Executive
  • Independence: British Overseas Territory
  • Ethnic Groups: Falkland Islander 48.3%, British 23%, St. Helenian 7.5%, Chilean 4.6%, Mixed 6%, Other 10.6%
  • Religions: Christian 57.1%, None 35.4%, Other 2.6%, Unspecified 4.9%
  • Literacy Rate: 99% (2016 est.)
  • Transport: Mount Pleasant Airport, Stanley Airport, road network, port facilities
  • Communications: Satellite telecommunications, internet access, mobile coverage
  • Energy: Wind 40%, Diesel 60%, developing renewable energy projects
  • Countries Using This Currency: Falkland Islands
  • Data Sources: Central Bank: Government of the Falkland Islands (no central bank), Economic Data: Falkland Islands Government, World Bank estimates, Trade Data: Falkland Islands Government, Demographic Data: Falkland Islands Government, Geographic Data: Falkland Islands Meteorological Office, Historical Data: Falkland Islands Government archives
  • Last Updated: 2025