Solomon Islands Dollar
Solomon Islands Dollar
Currency Code
SBD
ISO 090
Symbol
SBD
Native: $
Decimal Digits
2
Rounding: 0
Countries
SB
Using this currency
Currency Units
Major Unit
Name: dollar
Symbol: $
Minor Unit
Name: cent
Symbol:
Value: 0.01
Banknotes
Frequently Used
$5$10$20$50$100
Rarely Used
$2
Coins
Frequently Used
10 cents20 cents50 cents$1$2
Plural Forms
English Plural
Solomon Islands dollars
Native Plural
Solomon Islands Dollars
Overview
The Solomon Islands Dollar is the currency of the Solomon Islands, managed by the Central Bank of Solomon Islands. It serves a small Pacific island economy dependent on logging, fishing, and agriculture.
Economy
- Solomon Islands is a member of Pacific Islands Forum, Melanesian Spearhead Group, Commonwealth, ACP.
- Main industries include: Fish, Mining, Timber.
- Solomon Islands is part of the World Trade Organization.
- Imports are food, machinery, manufactured goods, fuels, chemicals.
- Major exports include timber, fish, copra, palm oil, cocoa.
- GDP: $1.7 billion (2023 est.).
- GDP per capita: $2,400 (2023 est.).
- Unemployment rate: 65% (2011 est.).
- Inflation rate: 5.2% (2023 est.).
- Main trading partners: China, Italy, India, Australia, Malaysia, Singapore.
- Trade agreements: MSG Trade Agreement, Pacific Island Countries Trade Agreement.
History
- Previous currencies used: Australian dollar, British pound.
- The Solomon Islands dollar was introduced in 1977, replacing the Australian dollar following the country's independence from Britain in 1978.
- 1977: SBD introduced, replacing Australian dollar
- 1978: Solomon Islands independence
- 1983: Central Bank of Solomon Islands established
- 1998-2003: Civil unrest period ('The Tensions')
- 2003-2017: RAMSI intervention and economic stabilization
- 2019: Diplomatic switch from Taiwan to China
- Exchange rate peg: Managed float.
General Information
- ISO 4217 Code: SBD
- Symbols: SBD/$
- Currency Subunits: 100 cents
- Central Bank: Central Bank of Solomon Islands
- Monetary Policy: Managed floating exchange rate with focus on price stability and supporting the small island developing economy.
- Bills: 2 SBD, 5 SBD, 10 SBD, 20 SBD, 50 SBD, 100 SBD
- Coins: 1 cent, 2 cents, 5 cents, 10 cents, 20 cents, 50 cents, 1 dollar, 2 dollars
- USD Exchange Rate: Variable (approximately 8.3 SBD per USD)
- Pegged To: None (Floating)
- Capital: Honiara
- Population: 707,851 (2023 est.)
- Area: 28,896 km²
- Languages: Melanesian pidgin, English (official), 120 indigenous languages
- Time Zones: UTC+11 (Solomon Islands Time)
- Government Type: Parliamentary democracy under constitutional monarchy
- Head of Government: Prime Minister (head of government), Governor-General (representing British Crown)
- Independence: July 7, 1978 (from United Kingdom)
- Ethnic Groups: Melanesian 95.3%, Polynesian 3.1%, Micronesian 1.2%, Other 0.3%
- Religions: Protestant 73.4%, Roman Catholic 19.6%, Other Christian 2.9%, Other 4%, Unspecified 0.1%
- Literacy Rate: 84.1% (2015 est.)
- Transport: Honiara International Airport, limited road network, inter-island shipping, domestic flights
- Communications: Limited telecommunications, 25% internet penetration, mobile network coverage
- Energy: Hydroelectric 90%, Diesel 10%, potential for solar and wind
- Countries Using This Currency: Solomon Islands
- Data Sources: Central Bank: Central Bank of Solomon Islands (cbsi.com.sb), Economic Data: Solomon Islands National Statistics Office, World Bank, IMF, Trade Data: Solomon Islands Customs and Excise Division, Demographic Data: Solomon Islands National Statistics Office, Geographic Data: Solomon Islands Meteorological Service, Historical Data: Central Bank of Solomon Islands archives
- Last Updated: 2025