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The official currency of the British Virgin Islands has been the United States dollar (US$) since 1959, the currency also used by the United States Virgin Islands. [3] The British Virgin Islands enjoys one of the more prosperous economies of the Caribbean region, with a per capita average income of around $47,000 (2022 est.) [47]
When the British West Indies dollar was introduced to the British Virgin Islands in 1951 there were protests, and in 1961 the British Virgin Islands formally adopted the US dollar as its official currency. (See Eastern Caribbean dollar.)
The British Virgin Islands were always problematic for currency purposes due to their proximity to the Danish West Indies, which became the United States Virgin Islands in 1917. Officially, the British Virgin Islands used to use sterling, but in practice the situation was more complicated and involved the circulation of French francs and U.S ...
Currency Code Central bank Peg Anguilla: East Caribbean dollar: XCD Eastern Caribbean Central Bank: 2.70 XCD = 1.00 USD Antigua and Barbuda Dominica Grenada Montserrat Saint Kitts and Nevis Saint Lucia Saint Vincent and the Grenadines Aruba: Aruban florin: AWG Central Bank of Aruba: 1.79 AWG = 1.00 USD Bahamas: Bahamian dollar: BSD
(US$ accepted in Ascension Island) Government of Saint Helena British Indian Ocean Territory; United States dollar (de facto) [3] [4] Sterling (de jure) [5] [6] [7] US Federal Reserve System British Virgin Islands Turks and Caicos Islands; United States dollar Bahamian dollar also accepted in the Turks and Caicos Islands. US Federal Reserve ...
In 1951, the British Virgin Islands joined the arrangement, but this led to discontent because that territory was more naturally drawn to the currency of the neighbouring US Virgin Islands. In 1959, the British Virgin Islands withdrew from the arrangement and adopted the US dollar. [4]
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In 1951, the British Virgin Islands joined the arrangement, but this led to discontent because that territory was more naturally drawn to the currency of the neighbouring U.S. Virgin Islands. 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 ...
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