The Euro is the official currency of 18 Eurozone countries. The currency is managed by the European Central Bank (ECB) based in Frankfurt in collaboration with the Eurosystem. Despite being a modern currency, it is already the second largest reserve currency and second most traded in the world. The Euro coins come in denominations of 1c, 2c, 5c, 10c, 20c, 50c, €1 and €2. Euro banknotes are available as €5, €10, €20, €50, €100, €200 and €500. All Euro coins have a common side which shows the amount and a map of Europe. On the reverse, each country has their own variation which represents their culture. Despite these differences, all Euro coins are valid in all Eurozone countries. The Euro banknotes are the same on both sides in all Eurozone countries. They were designed by an Austrian, Robert Kalina, and each denomination has its own color and represents a historic period of European architecture with windows and gates on the front and bridges on the reverse.
Following independence in 1977 the Australian Dollar was replaced by the Soloman Islands Dollar at par. Due to years of economic stagnation and as a result of the civil war 2000 – 2003, the Dollar has reduced in value and it now stands at 1SBD to 15 Australian Cents. Some Islanders give the coins as souvenirs to their children and in some areas old forms of currency, such as dolphins teeth, have replaced the use of coins.