Time Period: 1899-1920 - German Colonial Administration

Timeline

  • 15.06.1901
  • Ordinance on the introduction of the German Reichsmark; effective 01.08.1887:
    - Foreign gold coins remained current at: 1 British Pound = 20.42 German Reichsmark, 20 US Dollars = 83.80 German Reichsmark
    - Foreign silver coins remained tolerated for two years at: 1 British Shilling = 1 German Reichsmark, 1 US Dollar = 4 German Reichsmark.
  • 05.07.1911
  • Proclamation of the German colonial monetary order of 01.02.1905; effective 01.08.1911
    - British and US-American gold coins remained current at a rate of 1 British Pound = 20.42 German Reichsmark and 20 US Dollars = 83.80 German Reichsmark.


Time Period: 1922-1967

Currency: Samoan Pound


Timeline

  • 07.12.1921
  • New Zealand law [Samoa Act, No. 16] on the establishment of the Western Samoa mandate territory; §27-33 establish the Samoan Treasury; effective 01.04.1922.
    - 10.04.1922: Ordinance [Samoa Treasury Amendment Order], amending (?) the act; effective immediately (?)
  • 13.06.1925
  • Start of issuance of treasury notes (unissued specimens exist with date of 03.03.1922) denominated as "Pound Sterling", which were circulating beside British notes and coins.
    - 06.08.1948: Start of issuance of treasury notes denominated as "Pound" ("Sterling" dropped).
  • ??.02.1959
  • Law [Bank of Western Samoa Ordinance, No. 1] on the establishment of the Bank of Western Samoa as government-owned bank with issuance privilege for paper money; effective upon constitution of the bank on 01.04.1959

Valuation Regimes

  • 1922-1948
  • Fixed rate against British Pound (it is not clear if Samoa devaluated together with New Zealand in 1933)
  • 1948-1967
  • Fixed rate against New Zealand Pound

Rate Arrangements

  • 01.04.1922
  • Fixed
  • British Pound at 1 : 1
  • -
  • 19.08.1948
  • Fixed
  • New Zealand Pound at 1 : 1
  • ±0.0%


Time Period: 1967-

Currency: Samoan Tala


Timeline

  • ??.??.1966
  • Law [Decimal Currency Act, No. 3] on the introduction of a decimal currency; effective 10.07.1967
  • 10.07.1967
  • Start of currency exchange:
    - 10.07.1967: Start of issuance of the new currency
    - 31.05.1968: Demonetization of the former currency in New Zealand, probably including Samoa (subsidiary coins remained tolerated).
  • 30.12.1974
  • Law [Monetary Board of (Western) Samoa Act, No. 17] on the establishment of the Monetary Board as financial supervisory institution; effective upon constitution of the board on 19.04.1975
  • 16.06.1980
  • Start of issuance of paper money by the Monetary Board, the Bank of Western Samoa remained acting agent for the handling of the notes.
    - 30.06.1981: Demonetization of the Bank of Western Samoa notes.
  • 25.02.1984
  • Law [Central Bank Act, No. 20] on the establishment of the Central Bank of Samoa; effective upon constitution of the bank on 01.05.1984.
    - 01.12.1984: Central Bank took over the handling of the paper money from the Bank of Western Samoa.

Valuation Regimes

  • 1967
  • Fixed rate against New Zealand Dollar
  • 1967-1975
  • Fixed rate against US Dollar
  • 1975-
  • Variable rate (1975-1985: peg to an identical currency basket as New Zealand but with varying parity, therefore in fact fixed against New Zealand Dollar)

Rate Arrangements

  • 10.07.1967
  • Fixed
  • New Zealand Dollar at 1 : 1
  • ±0.0%
  • 21.11.1967
  • Fixed
  • US Dollar at 1 : 0.719 & New Zealand Dollar at 1 : 0.806
  • ±0.0%
  • 24.12.1971
  • Fixed
  • New Zealand Dollar at 1 : 0.806
  • ±0.0%
  • 09.07.1973
  • Fixed
  • US Dollar at 1 : 0.596
  • +11.1%
  • 27.10.1975
  • Variable
  • initially: New Zealand Dollar at 1 : 0.80
  • -21.3%


End-year Forex Rates (Units per US Dollar)