The Trinidad and Tobago dollar is the official currency of the twin island nation of Trinidad and Tobago, located in the southern Caribbean. It is denoted by the currency code "TTD" and symbolized by the "$" sign. Established in 1964 as the replacement for the British West Indies dollar, the Trinidad and Tobago dollar serves as the legal tender within the country.
The Trinidad and Tobago dollar is subdivided into 100 cents and is issued in both paper notes and coins. The commonly used denominations include $1, $5, $10, $20, and $100 in the form of banknotes, while coins are available in 1 cent, 5 cents, 10 cents, 25 cents, and 50 cents. The Central Bank of Trinidad and Tobago is responsible for the issuance and control of the currency.
The exchange rate of the Trinidad and Tobago dollar can fluctuate against other major currencies, such as the US dollar, based on various economic factors, including inflation, trade performance, and monetary policies. As with any currency, the purchasing power of the Trinidad and Tobago dollar can be influenced by economic conditions within the country and international market forces.
The Trinidad and Tobago dollar is primarily used for everyday transactions, such as food, services, and goods, within the nation's domestic economy. It is also accepted in some neighboring countries as a means of payment in limited ways, although other currencies, such as the US dollar, may be more commonly used for international transactions.
