Samoan Monetary Unit
The Samoan monetary unit is the Samoan Tala (WST), which serves as the official currency of Samoa. Introduced in 1967, the Tala replaced the New Zealand Pound at a rate of 2 Tala to 1 New Zealand Pound. The currency is subdivided into 100 sene, which are the smaller units used for everyday transactions. The Tala is issued and regulated by the Central Bank of Samoa, ensuring its stability and circulation within the country.
Features of the Samoan Tala
The Samoan Tala comes in both banknotes and coins, each featuring unique designs that reflect Samoa’s rich cultural heritage and natural beauty. Banknotes are available in denominations of 5, 10, 20, 50, and 100 Tala, while coins are issued in 10, 20, and 50 sene, as well as 1 and 2 Tala. The currency often showcases iconic Samoan landmarks, traditional artwork, and important historical figures, making it a symbol of national pride.
Key points about the Samoan Tala:
- Introduced in 1967, replacing the New Zealand Pound.
- Subdivided into 100 sene for smaller transactions.
- Regulated by the Central Bank of Samoa.
- Available in banknotes and coins with culturally significant designs.
The Samoan Tala plays a vital role in the country’s economy, facilitating trade, commerce, and daily financial activities. Its value fluctuates based on international exchange rates, but it remains a cornerstone of Samoa’s financial system.