Falkland Islands The Falkland Islands Pound (FKP) is the official currency of the Falkland Islands, a British Overseas Territory in the South Atlantic Ocean. It was introduced in 1833 and is pegged to the British Pound Sterling (GBP) at a 1:1 ratio, meaning it holds the same value as GBP. British Pounds (GBP) also circulate in the Falkland Islands, but FKP is not generally accepted in the UK. The economy of the Falkland Islands is small and primarily based on fishing, tourism, and sheep farming. The FKP is subdivided into 100 pence, with banknotes ranging from £5 to £50 and coins from 1p to £2.
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