dollar (currency code TTD ) is the Trinidad and Tobago currency. Usually abbreviated as $ dollar sign, or alternatively $ TT to distinguish it from other dollar denominated currencies. It is divided into 100 cents. The currency of its predecessor is the Trinidad dollar and the Tobagan dollar.
Video Trinidad and Tobago dollar
History
The history of the currency in the former British colonies of Trinidad and Tobago closely follows the territory of British Eastern Caribbean in general. Although the proclamation of Queen Anne in 1704 brought the gold standard to the West Indies, the eight silver pieces (Spanish dollars and then the Mexican dollar) continued to form a major part of the currency circulating right into the second half of the nineteenth century.
Britain adopted the gold standard in 1821 and an imperial order council in 1838 resulted in Trinidad and Tobago formally adopting the sterling currency. However, despite the circulation of British coins in Trinidad and Tobago, the eight silver pieces continue to circulate next to them. The international silver crisis of 1873 marked the end of the silver dollar era in the West Indies and the silver dollar was destroyed in Tobago in 1879 and in Trinidad around the same period. This leaves a state in which the UK currency is outstanding, calculated in the private sector using a dollar account at an automatic conversion rate of 1 dollar = 4 shillings 2 pence. Government offices kept their accounts in British pounds, shillings, and pence until 1935 when Trinidad and Tobago went decimal.
From 1949, with the introduction of the West Indies dollar, the Trinidad and Tobago currencies became officially tied to the territory of the British Eastern Caribbean territory in general. British sterling coins were eventually replaced by new decimal coins in 1955, with the new penny equivalent to half of the old penny. In 1951, a record of the British Caribbean Region, the Eastern Group, was introduced, replacing Trinidad and Tobago's own records. In 1955, coins were introduced when the dollar was weakened. In 1964, Trinidad and Tobago introduced their own dollars. Between 1964 and 1968 the Trinidad and Tobago dollar was used in Grenada as a legitimate payment instrument until the country rejoined the common currency setting of the East Caribbean dollar. The Trinidad and Tobago Dollars and East Caribbean Dollars are the last two currencies in the world to keep the old one pound rank equal to four dollars and eighty cents, corresponding to the gold sovereignty for Piece eight. Both of these currencies ended this relationship within weeks of each other in 1976.
After VAT was introduced in 1989, the dollar was diverted from a fixed rate to a managed float regime on Easter weekend, 1993. For a broader outline of the region's currency history, see the West Indies Currency of England.
Maps Trinidad and Tobago dollar
Coins
In 1966, coins were introduced in denominations of 1 Â ¢, 5 Â ¢, 10 Â ¢, 25 Â ¢ & 50 Â ¢. The first big $ 1 coins were released for distribution in 1969 and again in 1979 before being replaced with smaller sized versions in 1995 more often printed. 1 Â ¢ & amp; 5 Â ¢ beaten in bronze, with another denomination in cupro-nickel. The obverses all the features of the Trinidad and Tobago emblem, with the reverse design showing only denominations until 1976, when they were replaced by national birds or flowers in addition to the denominations after the declaration of the republic. 50 Â ¢ & amp; $ 1 coins are almost invisible in circulation, but can be purchased from the bank if requested.
There are also coins printed on $ 5, $ 10, $ 100 and $ 200 as well. These coins are not outstanding, and can only be obtained from the Central Bank of Trinidad and Tobago, either as part of a special 'eight-coin proof' collection (in the case of $ 5 and $ 10 coins) or individually (in case of $ 100 coins and $ 200.) In particular, $ 5 and $ 10 coins are sterling silver, while $ 100 and $ 200 are printed with gold. Gold coin prices fluctuate depending on current market conditions for gold.
Banknote
In the nineteenth century, the British gold rulers were rewarded with four Spanish silver dollars and eighty cents. When the sterling currency was finally accepted as the main currency circulating in the West Indies of England, the Eastern Caribbean colonies continued to use the unit of dollars for accounting purposes. Therefore, the West Indian dollar is equivalent to four shillings and two pence.
The Royal Bank of Canada record reflects this state with its clear mention of the fact that one hundred dollars equals twenty pounds, sixteen shillings, and eight pence sterling. This situation is exclusively restricted to the Eastern Caribbean region, perhaps due to geographic proximity to the British Guiana. British Guiana has reason to want to keep the dollar unit due to recent changes from the Dutch currency. These factors do not affect Jamaica, Bermuda, or Bahamas that adopt the sterling currency in both currencies and as account units.
In 1898, the Colonial Bank introduced $ 20 notes. This was followed in 1901 by $ 5. The $ 100 money was also issued. The last record was issued in 1926, after which the Colonial Bank was taken over by Barclays Bank, which spent $ 5, $ 20 & amp; Money $ 100 to 1941. In 1905, records were introduced by the government in the $ 1 & amp; $ 2, followed by $ 5 in 1935, followed by $ 10 & amp; $ 20 in 1942.
Royal Bank of Canada introduces $ 5, $ 20 & amp; The $ 100 bill was in 1909. From 1920, the note also contained denominations in sterling. The $ 100 notes were not issued after 1920, while $ 5 and $ 20 were issued until 1938. The Canadian Bank of Commerce introduced $ 5, $ 20 & amp; Money $ 100 in 1921, with $ 5 & amp; Money $ 20 was issued until 1939. Royal Bank of Canada a hundred dollars, shown here; is a monetary system inheritance, in which the unit of accounts associated with coins is circulated based on two historical coins that are no longer in use.
On December 14, 1964, the Central Bank of Trinidad and Tobago introduced records for $ 1, $ 5, $ 10 & amp; $ 20. New denomination in the form of $ 50 & amp; Money $ 100 was issued on June 6, 1977, even though the $ 50 note was not forwarded after the delivery was stolen before it was issued. The $ 50 cash is taken out of the short circulation. The current note reversal shows Trinidad & Central Bank Building Tobago. Obverses has an emblem in the center, a national bird and a place in Trinidad, such as markets, petroleum refineries, etc. In 2002, $ 1 & amp; new. $ 20 money was introduced. In 2003, $ 1, $ 5, $ 10 & amp; $ 100 was also introduced. Her tones are only slightly changed; now they have more security features & amp; darker color. More recently, more security features have been added to the record by the Central Bank of Trinidad and Tobago. In 2012, a $ 50 bill was reintroduced to commemorate the Golden Year of the Trinidad and Tobago Independence Jubilee. On the front of the note are Red-capped cardinal birds and warning text around the center of the emblem. Two versions of this denomination were released, one without warning text around the symbol center (general circulation) and one with the warning text.
The outstanding banknotes are
- $ 1 (red)
- $ 5 (green)
- $ 10 (gray)
- $ 20 (purple)
- $ 50 (olive)
- $ 100 (blue)
See also
- Central Bank and Caribbean currency
- Trinidad and Tobago Economy
Footnote
References
External links
- Pictures of Trinidad and Tobago banknotes
Source of the article : Wikipedia
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