The Reserve Bank of the Dominion of British West Florida is a Crown Corporation, under the executive power of Her Majesty's Governor-General in and for the Dominion of British West Florida.
At the most basic level, the Reserve Bank ensures that people can buy and sell goods and services using Dominion Coinage, instead of having to barter. Part of this involves providing the actual coins . Coins may be physically issued or 'struck' by commercial or other governmental mints (domestic or foreign), but they must meet the standards of and be approved by the Reserve Bank.
The Reserve Bank also ensures that Dominion Coinage retains its buying power. Other major roles are managing the Dominion's foreign reserves (US Dollars, and UK Pounds primarily), and serving as banker to Her Majesty's Government in the Dominion of British West Florida. The information provided by the Reserve Bank includes statistics - for example, on interest rates, exchange rates and money and credit growth. The Reserve Bank's Central Information Authority also produces the factbook with detailed entries on most of the Nations of the world.
It is authorized to exchange funds with other Nation's Central and Reserve banks and banking systems. The Dominion Reserve Bank trades with the other Central and Reserve Banks at the official rates, based on the London Close for Silver. The Reserve Bank does NOT exchange coins with private persons. Private exchange of Dominion Coinage is encouraged, as is the purchase of Coins for collections and for mementos.
The Dominion of British West Florida is one of the very few nations in the world that is not on a decimal coinage system. The Reserve Bank, and the Dominion continue to use the tradtional Pound, Shilling, Penney (£,s,d) system, with one pound equal to 20 shillings of 12 pence each. Each Dominion of British West Florida Penny has a stated worth equal to one 20th of an ounce of Silver.
We have worked with xe.com Universal Currency Converter to provide you with a handy tool to calculate conversion rates between Dominion currency and that of most other nations.
To convert the Pound click here, to conver the Shilling, click here, and to conver the Penney, click here.