|Currency Name||Gambian Pound|
|System||1 Pound = 20 Shillings, 1 Shilling = 12 Pence|
The Gambian pound was the currency of the Gambia between 1965 and 1971. Gambia used the British West African pound until it issued its own currency on October 5, 1964. In 1971, the dalasi replaced the pound at a rate of 1 pound = 5 dalasis which means 1 dalasi = 4 shillings. One Gambian pound was made up of 20 shillings, each shilling being made up of 12 pence.
When The Gambia was granted internal self-government in October 1963, rather than being a constituent colony of British West Africa the West African Currency Board ordered that the Gambian pound should replace the British West African pound in the colony and an order for unique banknotes was lodged with British banknote printer Bradbury Wilkinson & Co. Ltd. for 10 shilling, £1 and £5 notes. The new notes were issued within four days of the new currency ordinance under the oversight of The Gambia Currency Board, which came into effect on 1 October 1964.
The Gambia Currency Board issued The Gambia's first coinage, produced by the Royal Mint, to replace the British West African coins, on 21 November 1966. The values remained the same although the 1/10 and 1/2 penny coins were not issued, whilst a 4 Shillings piece went into circulation. An 8 Shillings coin was subsequently struck in 1970.
The Central Bank of The Gambia took over assets and liabilities of The Gambia Currency Board in 1971 and a new decimal currency was introduced to replace the Gambian pound. The new currency was the Dalasi with 1 dalasi being subdivided into 100 bututs.