10 Shillings

The Southern Rhodesia Currency Board was a passive issuing body — it held no monetary policy powers and existed solely to maintain a fixed one-to-one link with sterling. Notes like this one were fully backed by London securities, which meant the Board had no authority to expand or contract the money supply independently. That arrangement suited the colonial administration fine, but it would become untenable within a decade as the Federation of Rhodesia and Nyasaland pushed for a proper central bank.

Bradbury Wilkinson printed the series at New Malden throughout the Board's later years. Laurence Grafftey-Smith, who signed as Chairman, had previously served as a British diplomat in the Middle East — an unusual background for a currency board officer.