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The history of currency in the British colony of St. Kitts closely follows that of the British Eastern Caribbean territories in general. Even though Queen Anne's proclamation of 1704 brought the gold standard to the West Indies, silver pieces of eight (Spanish dollars and later Mexican dollars) continued to form a major portion of the circulating currency right into the latter half of the ...
Currency ISO 4217 Code Central bank Peg Anguilla: East Caribbean dollar: XCD: Eastern Caribbean Central Bank: 2.70 XCD = 1.00 USD Antigua and Barbuda Dominica Grenada Montserrat Saint Kitts and Nevis Saint Lucia Saint Vincent and the Grenadines Aruba: Aruban florin: AWG: Central Bank of Aruba: 1.79 AWG = 1.00 USD Bahamas: Bahamian dollar: BSD
Barbados withdrew from the currency union in 1972, following which the ECCA headquarters were moved to St. Kitts. [6] Between 1965 and 1983, the Eastern Caribbean Currency Authority issued the EC$, with banknotes from 1965 and coins from 1981.
The Eastern Caribbean Central Bank (ECCB) [2] is a supranational central bank that serves Anguilla, Antigua and Barbuda, Dominica, Grenada, Montserrat, Saint Kitts and Nevis, Saint Lucia, and Saint Vincent and the Grenadines, all members of the Organisation of Eastern Caribbean States (OECS) that use the ECCB-issued Eastern Caribbean Dollar as their currency.
The currency will be introduced in the second half of 2024, according to an annual report that the Central Bank of Curacao and St. Maarten released late last year.
The currency union operates under the supervision of the Eastern Caribbean Central Bank (ECCB).The ECCB maintains a stable currency by ensuring sufficient foreign reserves and setting borrowing limits for governments and banks. [3] In 2009-2010, foreign reserve backing was 93.93%, well above the prescribed 60% requirement. [3]
Which banks offer foreign currency exchange? Banks such as Bank of America, Wells Fargo and TD Bank may offer a foreign currency exchange service to account holders for free or at a modest charge.
Barbados withdrew from the currency union in 1972, following which the ECCA headquarters were moved to St. Kitts. [2] Between 1965 and 1983, the Eastern Caribbean Currency Authority issued the EC$, with banknotes from 1965 and coins from 1981.