The lowdown on the Solomon Islands dollar
Economical Influences on the Solomon Islands Dollar Exchange Rate
If you are considering converting NZD to SBD, it’s good to get a snapshot of how the economy may influence the Solomon Islands dollar.
The Solomon Islands have in the past suffered economic crisis, with the Regional Assistance Mission to the Solomon Islands (RAMSI) assisting in the growth and recovery of the Solomon Islands economy until June 2017.1
Majority of the population of the Solomon Islands make their livelihood from the agriculture, fishing, and forestry industries.1
The islands are also rich in mineral commodities such as lead, zinc, nickel, and gold; however their infrastructure to access these remains largely underdeveloped.1
The Solomon Islands dollar was initially pegged to the AUD when it was introduced in 1977; however since being floated the dollar has seen large fluctuations caused by inflation.2
Solomon Islands Dollar Historical Exchange Rate
From 2016 onwards, the SBD has performed with limited fluctuation against the NZD, remaining relatively stable.3
Beginning 27 June 2014, the NZD was worth around 6.46 SBD; the Solomon Islands dollar improved over the next few months, with 1 NZD buying 5.65562 SBD by 1 February 2015.3
2015 proved to be a positive year for the SBD, and by 2 September 2015 the NZD was worth around 4.90 SBD.3
A year later on 18 January 2017, the NZD was buying 5.78045 SBD. (3) The SBD remained stable throughout 2017, with the NZD equalling around 5.30 SBD by 1 December.3
2018 showed much of the same trajectory as the previous year, and as of 19 August the NZD was buying around 5.28 SBD.3