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The Trinidad and Tobago dollar was launched, and had become the sole currency by 1967. [17] In 1964, Trinidad and Tobago introduced its own dollar. Between 1964 and 1968 the Trinidad and Tobago dollar was utilized in Grenada as legal tender until that country rejoined the common currency arrangements of the East Caribbean dollar. [18]
Outlook: Stable. Foreign reserves. $6.75 billion (Jan 2022 est.) [16] All values, unless otherwise stated, are in US dollars. The economy of Trinidad and Tobago is the third wealthiest in the Caribbean and the fifth-richest by GDP (PPP) per capita in the Americas. [17] Trinidad and Tobago is recognised as a high-income economy by the World Bank.
Grenada, which had used the Trinidad and Tobago dollar from 1964, rejoined the common currency arrangement in 1968. [6] Barbados withdrew from the currency union in 1972, following which the ECCA headquarters were moved to St. Kitts. [6]
The Central Bank of Trinidad and Tobago undertakes many functions in its day-to-day operations. The Central Bank of Trinidad and Tobago was established by an Act of Parliament on December 12, 1964. In particular, the Bank's main responsibilities are to issue and redeem currency; maintain monetary and financial stability; act as banker to the ...
The dollar was the currency of Trinidad until 1814. The currency comprised various cut Spanish dollars and other Spanish colonial coins. Before 1811, the dollar was worth 8 shillings, each of 12 pence. After 1811, it was worth 9 shillings. In 1814, sterling was established as the official currency of the island.
Trinidad and Tobago, [a] officially the Republic of Trinidad and Tobago, is the southernmost island country in the Caribbean.Consisting of the main islands Trinidad and Tobago and numerous much smaller islands, it is situated 11 kilometres (6 nautical miles) off the coast of northeastern Venezuela and 130 kilometres (70 nautical miles) south of Grenada. [11]
The dollar was subdivided into 11 bits, each of nine pence. In 1814, sterling was established as the official currency of the island. Since 1905, dollars have once more circulated on Tobago, first the Trinidad and Tobago dollar, then the British West Indies dollar, before the Trinidad and Tobago dollar was reintroduced. Coins
In 1961, the British Virgin Islands withdrew from the arrangement and adopted the U.S. dollar as its currency. In 1964, Trinidad and Tobago withdrew from the currency union (adopting the Trinidad and Tobago dollar) forcing the movement of the headquarters of the BCCB to Barbados. [3]