Solomon Islands - Money

Since independence in 1978 the Solomon Islands dollar has floated freely. In 1982, its dollar was worth slightly more than the U.S. dollar (SI$.9711 to US$1), but fell to about one-fifth of the U.S. dollar by 2001 (SI$5.0745 to US$1). In the 1980s, this was partly a result of a negative trade balance, but this does not seem to have been a factor in recent years, when exports have tended to be of greater value than imports. During the 1990s, the rate of inflation has averaged 10.7 percent per year.