Falkland Islands pound (FKP)

The Falkland Islands pound, coded as FKP and represented by the symbol £, is the official currency of the Falkland Islands, a British Overseas Territory in the South Atlantic. Pegged at a 1:1 fixed exchange rate to the British pound sterling, it was introduced in 1899 to simplify local commerce. Issued by the Falkland Islands Government, local banknotes and coins circulate interchangeably with UK sterling banknotes on the islands.