In 1938, the Southern Rhodesia Currency Board was established and took over the issuance of paper money the following year.

In 1956, the first paper money of the Rhodesia and Nyasaland pound was introduced, completing the transition.

In 1953 a 5/– coin of .500 fineness (.45 ounce actual silver weight) was minted to commemorate the centennial of the birth of Cecil Rhodes.

In 1896, the Salisbury branch of the Standard Bank of South Africa introduced the first Southern Rhodesian banknotes, in denominations of £1 and £5.

In 1955, the Central Africa Currency Board issued notes in denominations of 10/–, £1, £5 and £10.