Trinidadian Dollar
- Country: Trinidad and Tobago
- CURENCY: Dollar
- Alias: Trinidadian Dollar
- ISO 4217 CODES: TTD/780
- Symbol: TT$
The Trinidad and Tobago dollar – also known as the Trinidadian dollar – is the official currency of the Republic of Trinidad and Tobago, a Caribbean nation comprised of a 23- island group situated near the Venezuelan coast. The islands had been European colonies for much of their history, finally becoming independent from Britain in 1962. The “T and T” dollar derives much of its strength from a well-developed energy industry that exports oil and natural gas, but is also bolstered by significant foreign investment and a robust tourism industry.
Background of the Trinidad Tobago Dollar
The discovery of Trinidad and Tobago is generally credited to Christopher Columbus, who landed on the islands in 1498, though the archipelago had actually been inhabited by native peoples for centuries prior to that date. This landing marked the beginning of a succession of European claims to the islands, culminating with British colonization at the beginning of the 19th century. The islands finally gained their independence in 1962, and the Republic of Trinidad and Tobago was officially formed in 1976. Residents of the islands refer to themselves as Trinbagonians.
Petroleum and natural gas exports are the nation’s leading source of income, though the tourism and textile industries also make important contributions to the local economy.
The Trinidad and Tobago dollar is a floating currency, and the exchange rate tends to hover around USD$1 = TT$6.20.
The Trinidadian dollar is divided into 100 cents. Denominations for coins are 1c, 5c, 10c, 25c and 50c. Denominations for banknotes are $1, $5, $10, $20 and $100.
