1 Pound

The Central Africa Currency Board served Southern Rhodesia, Northern Rhodesia, and Nyasaland — a colonial monetary arrangement that was already living on borrowed time by 1955. The Federation of Rhodesia and Nyasaland had been constituted in 1953, and the Board's days were numbered; the Bank of Rhodesia and Nyasaland would absorb its functions in 1956, making this among the final issues under CACB authority.

Laurence Grafftey-Smith, whose signature appears here, was a career diplomat and former British Minister to Jeddah — an unusual background for a currency board chairman, but colonial monetary administration rarely drew from orthodox banking circles.