1 Crown (Queen Elizabeth and Prince Philip) – Falkland Islands

In 2017, the currency situation in the Falkland Islands remained stable and unaltered, continuing its long-standing and unique dual-currency system. The official currency is the Falkland Islands pound (FKP), which is issued by the Falkland Islands Government and is pegged at par (1:1) with the British pound sterling (GBP). This parity is maintained by the government's Currency Commissioners, ensuring full convertibility and providing a strong foundation for financial stability. Both banknotes and coins bearing distinct Falklands imagery circulate locally.

Sterling banknotes and coins from the United Kingdom also circulate freely and interchangeably within the islands, making the economy effectively sterling-based. This arrangement means that businesses readily accept both FKP and GBP, with change often given in a mixture of both. The system provides practical convenience for trade and tourism, particularly given the territory's close constitutional and economic ties to the UK, and eliminates any exchange risk for imports, which primarily come from Britain.

The year 2017 saw no significant changes to this monetary framework. The economy, supported by fisheries licensing, tourism, agriculture, and emerging offshore hydrocarbon exploration interests, continued to function smoothly under this familiar system. The fixed peg to sterling provided insulation from currency volatility, which was particularly relevant in the wake of the 2016 Brexit referendum, whose full economic implications were still unfolding. Consequently, the currency background for the Falklands in 2017 was one of continuity, reliability, and full integration with the British sterling zone.