Central banks and currencies of the Caribbean

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This is a list of the central banks and currencies of the Caribbean.

There are a number of currencies serving multiple territories; the most widespread are the East Caribbean dollar (8 countries and territories), the United States dollar (5) and the euro (4).

Country/TerritoryCurrencyCode Central bank Peg
Flag of Anguilla.svg  Anguilla East Caribbean dollar XCD Eastern Caribbean Central Bank 2.70 XCD = 1.00 USD
Flag of Antigua and Barbuda.svg  Antigua and Barbuda
Flag of Dominica.svg  Dominica
Flag of Grenada.svg  Grenada
Flag of Montserrat.svg  Montserrat
Flag of Saint Kitts and Nevis.svg  Saint Kitts and Nevis
Flag of Saint Lucia.svg  Saint Lucia
Flag of Saint Vincent and the Grenadines.svg  Saint Vincent and the Grenadines
Flag of Aruba.svg  Aruba Aruban florin AWG Central Bank of Aruba 1.79 AWG = 1.00 USD
Flag of the Bahamas.svg  Bahamas Bahamian dollar BSD Central Bank of The Bahamas 1.00 BSD = 1.00 USD
Flag of Barbados.svg  Barbados Barbadian dollar BBD Central Bank of Barbados 2.00 BBD = 1.00 USD
Flag of the Netherlands.svg  Caribbean Netherlands United States dollar USD De Nederlandsche Bank (monetary authority)
Federal Reserve Bank (U.S. dollar)
float
Flag of the Cayman Islands.svg  Cayman Islands Cayman Islands dollar KYD Cayman Islands Monetary Authority 1.00 KYD = 1.20 USD
Flag of Cuba.svg  Cuba Cuban peso CUP Central Bank of Cuba 24.00 CUP = 1.00 USD
Flag of Sint Maarten.svg  Sint Maarten Netherlands Antillean guilder [1] ANG Central Bank of Curaçao and Sint Maarten 1.79 ANG = 1.00 USD
Flag of Curacao.svg  Curaçao
Flag of the Dominican Republic.svg  Dominican Republic Dominican peso DOP Banco Central de la República Dominicana float
Flag of France.svg  Guadeloupe Euro EUR European Central Bank float
Flag of France.svg  Martinique
Flag of France.svg  Saint Barthélemy
Flag of France.svg  Saint Martin
Flag of France.svg  French Guiana
Flag of Haiti.svg  Haiti Haitian gourde HTG Banque de la République d'Haïti float
Flag of Jamaica.svg  Jamaica Jamaican dollar JMD Bank of Jamaica float
Flag of Trinidad and Tobago.svg  Trinidad and Tobago Trinidad and Tobago dollar TTD Central Bank of Trinidad and Tobago float
Flag of the Turks and Caicos Islands.svg  Turks and Caicos Islands United States dollar USD Federal Reserve Bank float
Flag of the United States Virgin Islands.svg  United States Virgin Islands
Flag of Puerto Rico.svg  Puerto Rico
Flag of the British Virgin Islands.svg  British Virgin Islands
Surrounding countries and territories
Country/TerritoryCurrencyCode Central bank Peg
Flag of Bermuda.svg  Bermuda Bermudian dollar BMD Bermuda Monetary Authority 1.00 BMD = 1.00 USD
Flag of the United States.svg  United States United States dollar USD Federal Reserve Bank float
Flag of Mexico.svg  Mexico Mexican peso MXN Bank of Mexico float
Flag of Belize.svg  Belize Belize dollar BZD Central Bank of Belize 2.00 BZD = 1.00 USD
Flag of Guatemala.svg  Guatemala Guatemalan quetzal GTQ Bank of Guatemala float
Flag of Honduras.svg  Honduras Honduran lempira HNL Central Bank of Honduras crawling peg to USD
Flag of Nicaragua.svg  Nicaragua Nicaraguan córdoba NIO Central Bank of Nicaragua crawling peg to USD
Flag of Costa Rica.svg  Costa Rica Costa Rican colón CRC Central Bank of Costa Rica float
Flag of Panama.svg  Panama US dollar / Panamanian balboa USD / PAB Federal Reserve Bank / National Bank of Panama 1.00 PAB = 1.00 USD
Flag of Colombia.svg  Colombia Colombian peso COP Banco de la República float
Flag of Venezuela.svg  Venezuela Venezuelan bolívar soberano VEF Banco Central de Venezuela Disputed, ostensibly pegged to the Petro (cryptocurrency)
Flag of Guyana.svg  Guyana Guyanese dollar GYD Bank of Guyana float
Flag of Suriname.svg  Suriname Surinamese dollar SRD Central Bank of Suriname float

See also

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<span class="mw-page-title-main">Euro</span> Currency of most countries in the European Union

The euro is the official currency of 20 of the 27 member states of the European Union. This group of states is officially known as the euro area or, commonly, the eurozone, and includes about 344 million citizens as of 2023. The euro is divided into 100 euro cents.

The Eastern Caribbean dollar is the currency of all seven full members and one associate member of the Organisation of Eastern Caribbean States (OECS). The successor to the British West Indies dollar, it has existed since 1965, and it is normally abbreviated with the dollar sign $ or, alternatively, EC$ to distinguish it from other dollar-denominated currencies. The EC$ is subdivided into 100 cents. It has been pegged to the United States dollar since 7 July 1976, at the exchange rate of US$1 = EC$2.70.

The Netherlands Antilles was an autonomous Caribbean country within the Kingdom of the Netherlands, which was formally dissolved in 2010.

<span class="mw-page-title-main">Eurozone</span> Area in which the euro is the official currency

The euro area, commonly called the eurozone (EZ), is a currency union of 20 member states of the European Union (EU) that have adopted the euro (€) as their primary currency and sole legal tender, and have thus fully implemented EMU policies.

The Surinamese dollar has been the currency of Suriname since 2004. It is divided into 100 cent. The Surinamese dollar is normally abbreviated with the dollar sign $, or alternatively Sr$ to distinguish it from other dollar-denominated currencies. In spoken Surinamese Dutch, it is widely referred to by its acronym SRD, with "dollar" generally being understood as meaning the US dollar.

The British West Indies dollar (BWI$) was the currency of British Guiana and the Eastern Caribbean territories of the British West Indies from 1949 to 1965, when it was largely replaced by the East Caribbean dollar, and was one of the currencies used in Jamaica from 1954 to 1964. The monetary policy of the currency was overseen by the British Caribbean Currency Board (BCCB). It was the official currency used by the West Indies Federation The British West Indies dollar was never used in British Honduras, the Cayman Islands, the Turks and Caicos Islands, the Bahamas, or Bermuda.

<span class="mw-page-title-main">Currency union</span> Agreement involving states sharing a single currency

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<span class="mw-page-title-main">Association of Caribbean States</span> Regional intergovernmental organization

The Association of Caribbean States is an advisory association of nations centered on the Caribbean Basin. It was formed with the aim of promoting consultation, cooperation, and concerted action among all the countries of the Caribbean coastal area. The primary purpose of the ACS is to promote greater trade between the nations, enhance transportation, develop sustainable tourism, and facilitate greater and more effective responses to local natural disasters.

<span class="mw-page-title-main">Guyanese dollar</span> Currency used in Guyana

The Guyanese dollar has been the unit of account in Guyana since 29 January 1839. Originally it was intended as a transitional unit to facilitate the changeover from the Dutch guilder system of currency to the British pound sterling system. The Spanish dollar was already prevalent throughout the West Indies in general, and from 1839, the Spanish dollar unit operated in British Guiana in conjunction with British sterling coins at a standard conversion rate of one dollar for every four shillings and twopence. In 1951 the British sterling coinage was replaced with a new decimal coinage which was simultaneously introduced through all the British territories in the Eastern Caribbean. When sterling began to depreciate in the early 1970s, a switch to a US dollar peg became increasingly attractive as an anti-inflationary measure and the Eastern Caribbean Currency Authority made the switch in October 1975. The Guyanese dollar is normally abbreviated with the dollar sign $, or alternatively G$ to distinguish it from other dollar-denominated currencies.

<span class="mw-page-title-main">Dutch guilder</span> Currency of the Netherlands from the 17th century until 2002

The guilder or florin was the currency of the Netherlands from 1434 until 2002, when it was replaced by the euro.

<span class="mw-page-title-main">Netherlands Antillean guilder</span> Currency of Curaçao and Sint Maarten

The Netherlands Antillean guilder is the currency of Curaçao and Sint Maarten, which until 2010 formed the Netherlands Antilles along with Bonaire, Saba, and Sint Eustatius. It is subdivided into 100 cents. The guilder was replaced on 1 January 2011 on the islands of Bonaire, Saba and Sint Eustatius by the United States dollar.

<span class="mw-page-title-main">Dutch rijksdaalder</span> Historical coin

The rijksdaalder was a Dutch coin first issued by the Republic of the Seven United Netherlands in the late 16th century during the Dutch Revolt which featured an armored half bust of William the Silent. It was the Dutch counterpart of the Reichsthaler of the Holy Roman Empire but weighed slightly less, at 29.03 g of 0.885 fine silver, reduced to 0.875 fine by the 17th century. Friesland, Gelderland, Holland, Kampen, Overijssel, Utrecht, West Friesland, Zeeland, and Zwolle minted armored half bust rijksdaalders until the end of the 17th century.

<span class="mw-page-title-main">World currency</span> Currency that is widely used internationally

In international finance, a world currency, supranational currency, or global currency is a currency that would be transacted internationally, with no set borders.

The region known as the British West Indies included British Guiana on the South American mainland, British Honduras in Central America, Bermuda, The Bahamas, and Jamaica, along with its former dependencies of the Cayman Islands and the Turks and Caicos Islands. It also included the Eastern Caribbean territories of Trinidad and Tobago, Barbados, the Windward Islands and the Leeward Islands.

The Caribbean guilder is a planned currency of Curaçao and Sint Maarten, two constituent countries of the Kingdom of the Netherlands, officially slated for introduction in 2024. The Caribbean guilder is set to replace the Netherlands Antillean guilder (ANG) at par and be pegged to the U.S. dollar. The currency has an official launch scheduled for the second half of 2024; however, the launch has reportedly been pushed to 31 March 2025, pending confirmation from the ministry of finance. It is divided into 100 cents.

<span class="mw-page-title-main">International use of the U.S. dollar</span> Use of US dollars around the world

The United States dollar was established as the world's foremost reserve currency by the Bretton Woods Agreement of 1944. It claimed this status from sterling after the devastation of two world wars and the massive spending of the United Kingdom's gold reserves. Despite all links to gold being severed in 1971, the dollar continues to be the world's foremost reserve currency. Furthermore, the Bretton Woods Agreement also set up the global post-war monetary system by setting up rules, institutions and procedures for conducting international trade and accessing the global capital markets using the US dollar.

<span class="mw-page-title-main">Economy of Saint Martin (island)</span> R53 heart

The economy of Saint Martin, divided between the French Collectivity of Saint Martin and the Dutch Sint Maarten, is predominately dependent on tourism. For more than two centuries, the main commodity exports have generally been salt and locally grown commodities, like sugar.

<span class="mw-page-title-main">Economy of Central America</span>

The economy of Central America is the eleventh-largest economy in Latin America, behind Brazil, Mexico, Argentina and Colombia. According to the World Bank, the nominal GDP of Central America reached 204 billion US dollar in 2010, as recovery from the crisis of 2009, where gross domestic product (GDP) suffered a decline to 3.8%. The major economic sectors are agriculture and tourism, although the industrial sector has shown strong growth, mainly in Panama.

References

  1. The Caribbean guilder is to replace the Netherlands Antillean guilder (by an unspecified date).