The Polynesian pound (P£) is the currency of the Federated Polynesian States.
It was established in 1829 - remarkably a full five years after the country proclaimed its sovereignty - and was very little used until the 1970s, at which point it became useful for a growing cash economy based on tourism. (See: Economy of the Federated Polynesian States)
The West Ariddian credit (WÇ), one of the strongest currencies in the Pacific area, is also legal tender in the Federation, especially when dealing with large sums of money. It is not uncommon for a tourist to pay for goods or services with a West Ariddian banknote, and to have change returned to him in Federal Polynesian coins, on the rough basis of P£10 for WÇ1. (In actual fact, the current official rate of exchange is P£9.97 for WÇ1.
The Polynesian pound comes in banknotes and coins, although the former are rarely used. Banknotes are:
- P£500 (WÇ50.15). Dark blue. Depicts a large traditional Maohi canoe.
- P£100 (WÇ 10.03). Light blue. Depicts a rendering of the signing of the Proclamation of Sovereignty by King Mosese.
- P£50 (WÇ5.02). Light green. Depicts Va'ahokai village, on Uhalo island, where Queen Rewa grew up.
Coins exist with the following value: P£50, P£20, P£10, P£5, P£2 and P£1 (WÇ0.1). There are no pennies. The heads side of each coin and one side of each banknote shows a portrait of Queen Rewa, the young ruling monarch.