Money in the Solomon Islands

Dear all,

I am an English medical student going to the Solomon Islands (Honiara National Referral Hospital) for a month to do a medical placement. I'd be really grateful if I could have some advice about how to deal with money when there. Is it better to have either:
- travellers cheques (which would be in pounds)
- American dollars in cash
- British pounds in cash
- Australian dollars in cash
- visa debit card

I understand the best thing would probably be a mixture of cash and tc and card, but what is easiest abd the most convenient and what currency is best to take as I would like to take some cash with me.

We are currently budgeting about £800 to £1000 for the 4 weeks we are there but we don't know if this is reasonable at all- how does it sound? Well e staying in hospital accommodation which is £200, so the money is mainly for food and excursions etc,

I'd appreciate any advice- first time going away for so long and so far away and not sure how to deal with the money part at all!

Thanks so much in advance :)

None of those currencies is really of much use in Honiara, and definitely not elsewhere in Solomon Islands. It is difficult to get Solomon dollars anywhere outside the country. You can cash your travellers cheques or change foreign currency at any of the major banks (ANZ, Westpac or Bank South Pacific). There are a number of ATMs in Honiara, where I regularly use my Visa debit to withdraw Solomon dollars. I usually withdraw some Solomon dollars at the airport (in the departures lounge near the entrance) to cover expenses until I get to town. Basically, i haven't bothered with travellers cheques for years, I just use my Visa debit.
However, you will need to take cash if you travel anywhere except Honiara, Auki and Gizo.
There is an exchange counter at the airport, but it does not have as good a rate as the ATMs or banks.
Local food is cheap, especially at the main market, but anything imported is quite expensive. The best supermarket for expats is at Panatina Plaza (between the airport and town).
Your budget should be fine, provided you don't eat out at expat restaurants all the time.
If you are working at the hospital, you will meet lots of locals who will probably invite you to their homes or even villages, if you have time to travel there.

my expience with Euro as my home curency is there is a 5 to 8% better exchange rate for traveller cheques compared with cash. To buy traveller cheques cost usually 1% insurence fee, so you are much better off with traveller cheques than cash.

As a back up I have a Visa card and another creditcard. The exchange rate for Sol-$ out of the box is slightly worse than with traveller cheques.

Credit card is convenient, but yoy get a bundle of 100 Sol-$ bill (highest note in circulation), there is a transaction limit of 2 to 3000 Sol-$.

There are NO fees for cashing traveller cheques at Wastpac, but it takes usually 20 minutes in the bank and you can ask for smaller bills at the dedicated separate foreign exchange teller. Rate at Bank South Pacific might be better, but as far I know they charge a fee for traveller cheques. ANZ serves customers by numbers there is no separate foreign exchange teller.

If you are travelling outside Honiara, or using the markets, small notes are useful.