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The Eastern Caribbean dollar (symbol: EC$; code: XCD) 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 ...
Before 1976, the EC dollar was pegged to the British pound sterling (GBP) at an exchange rate of EC$4.80 to £1.00. [3] However, since 7 July 1976, the EC dollar has been pegged to the US dollar at a fixed rate of EC$2.70 to US$1.00. [3] The fixed exchange rate allows for macroeconomic stability, low inflation, and growth of the financial ...
De Facto Classification of Exchange Rate Arrangements, as of April 30, 2021, and Monetary Policy Frameworks [2] Exchange rate arrangement (Number of countries) Exchange rate anchor Monetary aggregate target (25) Inflation Targeting framework (45) Others (43) US Dollar (37) Euro (28) Composite (8) Other (9) No separate legal tender (16) Ecuador ...
Eastern Caribbean dollar: Eastern Caribbean Central Bank Antigua and Barbuda Dominica Grenada Montserrat Saint Kitts and Nevis Saint Lucia Saint Vincent and the Grenadines Argentina: Argentine peso: Banco Central de la República Argentina Belize: Belize dollar: Central Bank of Belize: 2 BZD = 1 USD Bermuda: Bermudan dollar: Bermuda Monetary ...
The East Caribbean dollar is pegged to the United States dollar, and has been for over 35 years since 1976, [11] having previously been pegged to the pound sterling. [11] In 1965, the Eastern Caribbean Currency Authority was established (coming after the British Caribbean Currency Board), to distribute currency, but The Bahamas withdrew from ...
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: Central Bank of The Bahamas: 1.00 BSD = 1.00 USD ...
On the islands, the US dollar is accepted as legal currency by hotels, restaurants, and retail establishments at the rate of 1 US Dollar for every 80 Cayman cents. [11] Change is usually given in Cayman Island dollars. [12] Banks buy US Dollars at 82 Cayman Island cents each and sell 1.20 US dollars per Cayman Island dollar.
The Barbados dollar replaced the East Caribbean dollar at par in 1973. Since 5 July 1975, the Barbados dollar has been pegged to the US dollar. It is presently fixed at an exchange rate of US$1 = BBD$1.98. [7] However, in practice in businesses, the effective exchange rate with US dollar is fixed at 2 to 1 in favor of the US dollar, i.e. US$1=BBD$2