Trinidad and Tobago dollar
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| Trinidad and Tobago dollar | |
| ISO 4217 Code | TTD |
|---|---|
| User(s) | Trinidad and Tobago |
| Inflation | 9.3% |
| Source | Central Bank of Trinidad and Tobago, June 2008 |
| Pegged with | United States dollar = TT$6.25050 [1] |
| Subunit | |
| 1/100 | cent |
| Symbol | $ |
| Coins | |
| Freq. used | 1¢ , 5¢ , 10¢ , 25¢ |
| Rarely used | 50¢ |
| Banknotes | $1, $5, $10, $20, $100 |
| Central bank | Central Bank of Trinidad and Tobago |
| Website | www.central-bank.org.tt |
The dollar (currency code TTD) is the currency of Trinidad and Tobago. It is normally abbreviated with the dollar sign $, or alternatively TT$ to distinguish it from other dollar-denominated currencies. It is subdivided into 100 cents.
For earlier currencies, see Trinidadian dollar and Tobagan dollar.
Contents |
[edit] History
The dollar was introduced in 1898. It circulated alongside the British pound, with 1 dollar = 4 shillings 2 pence. From 1935, the currency was equivalent to the British West Indies dollar. In 1951, notes of the British Caribbean Territories, Eastern Group, were introduced, replacing Trinidad and Tobago's own notes. In 1955, coins were introduced when the dollar was decimalized. In 1964, Trinidad and Tobago introduced its own dollar, replacing the East Caribbean dollar at par.
[edit] Coins
In 1966, coins were introduced in denominations of 1, 5, 10, 25 and 50 cents. The 1 and 5 cents were struck in bronze, with the other denominations in cupro-nickel. The obverses all feature Trinidad and Tobago's coat of arms, with the reverse designs featuring the denomination until 1973, when they were replaced by either a national bird or flower. The 50 cents coins are rare in circulation.
[edit] Banknotes
In 1898, the Colonial Bank introduced 20-dollar notes. These were followed in 1901 by 5 dollars. 100-dollar notes were also issued. The last notes were issued in 1926, after which the Colonial Bank was taken over by Barclays Bank, which issued 5-, 20- and 100-dollar notes until 1941.
In 1905, notes were introduced by the government in denominations of 1 and 2 dollars, followed by 5 dollars in 1935 and 10 and 20 dollars in 1942.
The Royal Bank of Canada introduced 5-, 20- and 100-dollar notes in 1909. From 1920, the notes also bore the denomination in sterling. 100-dollar notes were not issued after 1920, whilst the 5 and 20 dollars were issued until 1938. The Canadian Bank of Commerce introduced 5-, 20- and 100-dollar notes in 1921, with the 5- and 20-dollar notes issued until 1939.
In 1964, the Central Bank of Trinidad and Tobago introduced notes for 1, 5, 10 and 20 dollars. 50- and 100-dollar notes were issued in 1977, although the 50-dollar note was not continued. The reverses of the current notes feature the Central Bank of Trinidad and Tobago. The obverses have the coat of arms in the center, a national bird and a place in Trinidad, such as a market, petroleum refinery, etc. In 2002, new 1 and 20 dollar notes were introduced. In 2003 new 1, 5, 10 and 100 dollars were also introduced. The notes were only slightly changed; they now have more security features and darker color. Recently, more security features have been added to the notes by the Central Bank of Trinidad and Tobago.
Banknotes in circulation are
- $1 (red)
- $5 (green)
- $10 (grey)
- $20 (purple)
- $100 (blue)
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[edit] See also
- Central banks and currencies of the Caribbean
- Economy of Trinidad and Tobago
- 1920 Trinidad and Tobago banknote (obverse)
- 1920 Trinidad and Tobago banknote (reverse)
[edit] References
- ^ Brittany Bond (September 19, 2006). "Trinidad and Tobago's dirty peg to the US dollar and inflation galore: Fateful days for the economy". Caribbean Net News.
- Krause, Chester L. and Clifford Mishler (1991). Standard Catalog of World Coins: 1801-1991, 18th ed., Krause Publications. ISBN 0-87341-150-1.
- Pick, Albert (1994). Standard Catalog of World Paper Money: General Issues, Colin R. Bruce II and Neil Shafer (editors), 7th ed., Krause Publications. ISBN 0-87341-207-9.
- Pick, Albert (1990). Standard Catalog of World Paper Money: Specialized Issues, Colin R. Bruce II and Neil Shafer (editors), 6th ed., Krause Publications. ISBN 0-87341-149-8.
[edit] External links
- Don's World Coin Gallery - Trinidad and Tobago
- Ron Wise's World Paper Money - Trinidad and Tobago Mirror site
- The Global History of Currencies - Trinidad and Tobago
- Global Financial Data data series - Trinidad and Tobago Dollar
- Global Financial Data currency histories table (
Microsoft Excel format)
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