British Overseas TerritoriesOf the British Overseas Territories, some use their own currencies, while some issue only collector coins. However, all of them that do so, or have done so, use the Queen’s effigy on their official issues. Anguilla briefly broke away from British rule in the late 1960s and issued its own unofficial coins, which did not portray the Queen but the island’s unofficial coat of arms.
The currencies of the British Overseas Territories are as follows:
1] The British Virgin Islands and The Turks and Caicos Islands use the U.S. dollar.
2] The following use the UK pound sterling:
a) British Antarctic Territory
b) British Indian Ocean Territory
c) South Georgia and the South Sandwich Islands
d) Tristan daCunha
3] The following use the East Caribbean States dollar:
a) Anguilla
b) Montserrat
The East Caribbean States are a currency union.
4] Bermuda uses the Bermuda dollar
5] The Cayman Islands use the Caymanian dollar
6] The Sovereign Base Areas on Cyprus (Akrotiri and Dhekelia) use the euro
7] The Falkland Islands use the Falkland pound
*8] Gibraltar uses the Gibraltar pound
* 9] The Pitcairn Group of Islands uses the New Zealand dollar
10] St. Helena and Ascension use the St Helena pound
*
* These separate pound currencies are pegged to the UK pound sterling at a rate of one to one.
NOTE: Gibraltar, the Falkland Islands, and St Helena and Ascension all use a currency board to produce their individual pound currencies. They all also use the UK pound sterling as their anchor currency. To learn about currency boards, and to understand the technical difference between the UK pound sterling and the pounds of the aforementioned territories, click on the link below:
There are only four basic currency systems in the world