Currency of Rhodesia. The Republic of Rhodesia, as it was known from 1970 to 1979, was an unrecognized state in southern Africa during the Cold War, and is now known as Zimbabwe. The capital city was Salisbury when it was the British colony of Southern Rhodesia. Declaration of independence from United Kingdom: November 11, 1965; reconstituted as Republic on March 2, 1970; briefly reverted to colonial status in June 1, 1979; gained recognized independence in April 17, 1980 and renamed the Republic of Zimbabwe. Monetary system: 1 Pound = 12 Shillings, 1 Shilling = 12 Pence (to 1970); 1 Dollar = 100 Cents (1970-1980).