Are US dollars accepted in Curacao?
Caribbean guilder
The Netherlands Antillean guilder will continue to circulate and plans to implement the Caribbean guilder will not be finalized until the islands' Central Bank situation is resolved. The new currency will be abbreviated CMg (for Curacao, Sint Maarten guilder) and would be pegged to the United States dollar at the same exchange rate as the Netherlands Antillean guilder (1 USD = 1.79 NAg = 1.79 CMg). As the BES islands (Bonaire, Sint Eustatius and Saba) adopted the U.S. dollar directly on 1 January 2011, the introduction of the CMg would mean the end of the circulation of the Netherlands Antillean guilder.
Curaçao reaal
In 1801, 9 stuiver coins were issued, made by stamping "9" on Spanish colonial 1 real coins. In 1810, quarter cut 8 real coins were stamped with a five-petalled flower to produce 3 reaal coins. In 1815, fifth cut 8 real coins were also stamped with a five-petalled flower to produce smaller 3 reaal coins.
Cuban convertible peso
On 8 November 2004, the Cuban government withdrew the U.S. dollar from circulation, citing the need to retaliate against further sanctions from the Helms–Burton Act. After a grace period ending on November 14, 2004, a 10% surcharge began to be imposed when converting U.S. dollars into convertible pesos. The change was announced some weeks beforehand, and was extended by the grace period. It has been claimed that it was because the amounts of U.S. dollars being exchanged were more than anticipated. The measure helped the Cuban government collect hard currency.
Economy of Guam
Exchange rates:
US currency is used
Cayman Islands dollar
Banks buy US Dollars at 82 Cayman Island cents each and sell 1.20 US dollars per Cayman Island dollar. , the Cayman Islands Monetary Authority uses a retail exchange rate of CI$1.00 = US$1.227.
Cook Islands dollar
The Cook Islands has a long reputation for frequent monetary oddities. It was one of the last countries to hold on to large crown-sized coins while elsewhere, coins of such size are seldom ever minted in large enough quantities intended for circulation. In 1987, with the release of its new $2 piece, Cook Islands officially became the first modern country to issue a circulating three-sided coin, as well as one of only a handful of countries at the time with a widely circulating $5 piece. 1988 brought the redesign of the 50-cent piece, quite unique in becoming the first coin in the country to bear a denomination name. Although widely recognized as "cents" this coin depicts "tene", the native language equivalent to the English word cent. It also abandoned its 1 and 2-cent pieces almost 10 years before both New Zealand and Australia, only to bring the 1 cent back 20 years later. It also replaced $1 and $2 notes for coins two years before New Zealand did, even though the Cook Islands dollar is pegged to the NZD at par. Amidst minting $2 and $5 coins, it also issued an oddball $3 note in between the dollar coins as part of the same series.
List of people on banknotes
Currency: Dollar (since 1935)Symbol: $/Bds$"See also Barbadian dollar."
Currency: Ngultrum (since 1974)Symbol: Nu"See also Bhutanese ngultrum."
Currency: Boliviano (since 1987)Symbol: Bs"See also Bolivian boliviano."
Currency: Convertible mark (since 1998)Symbol: KM"See also Bosnian and Herzegovinian convertible mark."
Currency: Pula (since 1976)Symbol: P"See also Botswana pula."
Currency: Dollar (since 1967)Symbol: B$"See also Brunei dollar."
Currency: Lev (pl. Leva) (since 1881)Symbol: лв"See also Bulgarian lev."
Currency: Franc (since 1916)Symbol: FBu"See also Burundian franc."
Currency: Riel (since 1980)Symbol: ៛"See also Cambodian riel."
Currency: Dollar (since 1867)Symbol: $"See also Banknotes of the Canadian dollar, Commemorative banknotes of the Canadian dollar and Canadian dollar."
Economy of Cuba
However, in response to stricter economic sanctions by the US and because the authorities were pleased with Cuba's economic recovery, the Cuban government decided in October 2004 to remove US dollars from circulation. In its place, the convertible peso was created, which although not internationally traded, has a value pegged to the US dollar 1:1. A 10% surcharge is levied for cash conversions from US dollars to the convertible peso, which does not apply to other currencies, so it acts as an encouragement for tourists to bring currencies such as Euros, pounds sterling or Canadian dollars into Cuba. An increasing number of tourist zones accept Euros.
Cayman Islands dollar
The Cayman Islands dollar was introduced in 1972 ( 10 years after separation from Colony of Jamaica ), replacing the Jamaican dollar at par. Jamaican currency and Cayman Islands dollars both remained legal tender until 1 August 1972, when Jamaican currency ceased to be legal tender. The Cayman Islands dollar has been pegged to the United States dollar at 1 Cayman Islands dollar = 1.2 U.S. dollars since 1 April 1974, when the Currency Law of 1974 was enacted. In 1983, the 1974 law was repealed and replaced by the Currency Law Revised, which itself was replaced in 1997 by section 22 of the Monetary Authority Law. Under section 22 of the 2013 revision of the Monetary Authority Law, the value of the Cayman dollar in United States Dollars is determined by the Governor.
Portuguese Timorese pataca
The pataca was first introduced in Portuguese Macau and Portuguese Timor in the year 1894, but only as a unit of account for the silver Mexican dollar coins that circulated widely in the region at that time. In 1894, Macau and Portuguese Timor constituted one single administrative entity, but in 1896 Portuguese Timor became autonomous from Macau. In those days there was no single currency in circulation in Macau and East Timor, and trade was dominated by the silver dollar coins, not only of Mexico, but also of China, as well as the British silver trade dollars that were minted for use in Hong Kong and the Straits Settlements. In East Timor, the 2½ Gulden coin of the neighbouring Netherlands East Indies also corresponded to a silver dollar. In 1901 in Macau, it was decided to create a purely local currency, and the authorities granted the Banco Nacional Ultramarino exclusive rights to print legal tender banknotes. These pataca banknotes were launched in 1906 at a sterling value of 2s 4d (2 shillings and 4 pence) — the same as the new Straits dollar that was issued in that same year. As in the Straits Settlements, all foreign coinage was outlawed, with the intention that the new currencies should establish their own market values. The Chinese were suspicious of these paper patacas, being accustomed to using silver for barter, and so the paper patacas always circulated at a discount in relation to the silver dollar coins. These Macau banknotes also circulated in East Timor, but in 1912 they were supplemented by local Timor issues for the first time. While the pataca continued at a discount to the silver dollars that were used in silver standard countries such as China and Hong Kong, the Straits dollar was pegged to sterling in a gold exchange standard, so the two currencies then floated apart. In 1935, when China and Hong Kong abandoned the silver standard, the pataca was pegged to the Portuguese escudo at a rate of 1 pataca = 5.5 escudos, making it equivalent to the British shilling (since £1 was then equivalent to 110 escudos) and putting it officially at a 3d sterling discount in relation to the Hong Kong unit, and at a 1s 4d discount in relation to the Straits dollar.
Dollar
Dollar (often represented by the dollar sign $) is the name of more than 20 currencies, including those of Australia, Canada, Hong Kong, Jamaica, Liberia, Namibia, New Zealand, Singapore, Taiwan, and the United States, whose US dollar is also the official currency of Caribbean Netherlands, East Timor, Ecuador, El Salvador, Federated States of Micronesia, Marshall Islands, Palau, Panama, and Zimbabwe.
List of people on banknotes
Currency: Peso (since 1837)Symbol: $"See also Colombian peso."
Currency: Franc (since 1920)Symbol: CF"See also Comorian franc."
Currency: Franc (since 1997)Symbol: FC"See also Congolese franc."
Currency: Colón (since 1896)Symbol: ₡"See also Costa Rican colón."
Currency: Kuna (since 1994)Symbol: kn"See also Croatian kuna."
Currency: Cuban peso (since 1857)Symbol: $, $MN"See also Cuban peso".
Currency: Czech koruna (since 1993)Symbol: Kč"See also Czech koruna."
International use of the U.S. dollar
Some other countries link their currency to U.S. dollar at a fixed exchange rate. The local currencies of Bermuda and the Bahamas can be freely exchanged at a 1:1 ratio for USD. Argentina used a fixed 1:1 exchange rate between the Argentine peso and the U.S. dollar from 1991 until 2002. The currencies of Barbados and Belize are similarly convertible at an approximate 2:1 ratio. The Netherlands Antillean guilder (and its successor the Caribbean guilder) and the Aruban florin are pegged to the dollar at a fixed rate of 1:1.79. The East Caribbean dollar is pegged to the dollar at a fixed rate of 2.7:1, and is used by all of the countries and territories of the OECS other than the British Virgin Islands. In Lebanon, one dollar is equal to 1500 Lebanese pound, and is used interchangeably with local currency as de facto legal tender. The exchange rate between the Hong Kong dollar and the United States dollar has also been linked since 1983 at HK$7.8/USD, and pataca of Macau, pegged to Hong Kong dollar at MOP1.03/HKD, indirectly linked to the U.S. dollar at roughly MOP8/USD. Several oil-producing Arab countries on the Persian Gulf, including Saudi Arabia, peg their currencies to the dollar, since the dollar is the currency used in the international oil trade.
Australian dollar
The Australian dollar (sign: $; code: AUD) is the currency of the Commonwealth of Australia, including its external territories Christmas Island, Cocos (Keeling) Islands, and Norfolk Island, as well as the independent Pacific Island states of Kiribati, Nauru, and Tuvalu. The Australian dollar was legal tender of Papua New Guinea until 1 January 1976, when the Papua New Guinean kina became the sole legal tender. Within Australia, it is almost always abbreviated with the dollar sign ($), with A$ or AU$ sometimes used to distinguish it from other dollar-denominated currencies. It is subdivided into 100 cents.
British Virgin Islands
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.
Netherlands Antillean guilder
Curaçao and Sint Maarten intended to replace the currency, thus ceased production of the currency, but , these territories still use the Antillean guilder. Since 2018 banknotes and coins now require replacement and there are only two years of the Antilles guilder physical currency remaining: there is still a possibility that the islands could opt for the euro instead or possibly the US dollar .
Portuguese Timorese pataca
In 1975, Portuguese Timor was invaded by Indonesia, and Indonesian currency was introduced. When this territory was established as an independent state in 2002, the US dollar was made the official currency. The US dollar was also descended from the Spanish pieces of eight but it broke parity with the silver dollars of south-east Asia and Latin America following the great international silver devaluation of 1873.
Curaçao reaal
Between 1799 and 1815, 12 reaal were equal to a Spanish dollar (8 "reales"). From 1815 until 1828, 15 reaal were equal to a Spanish dollar. Many of the coins were produced from overstamped or cut Spanish or Spanish colonial coins. In 1828, the reaal was replaced by the Dutch gulden at the rate of 3⅓ reaal = 1 gulden.
British Columbia dollar
The dollar was the currency of British Columbia between 1865 and 1871. It replaced the British pound at a rate of 1 pound = 4.866 dollars and was equivalent to the Canadian dollar, which replaced it. The dollar was subdivided into 100 cents. No distinct coins were issued, with Canadian coins circulating.
Currency of Maldives
The Maldivian unit of currency is the rufiyaa (ISO 4217 code MVR, symbol "Rf."), introduced in 1947. The rufiyaa is divided into 100 laari. On 1 February 2009, the exchange rate with the US dollar was USD1.00 = MVR12.80. On 10 April 2011, the Government announced a limited float of the currency within a band of 20% from the previous exchange rate of 12.80. Due to short supply of US Dollars, the official rate quoted by all banks as on 10 May stands as follows: Buy Rate USD 1.00 = MVR 14.42; Sell Rate USD 1.00 = MVR 15.42.
Currencies of the British West Indies
The Eastern Caribbean group comprised Trinidad and Tobago, Barbados, the Windward Islands, and the Leeward Islands. These territories all used sterling coinage in conjunction with a mixture of sterling accounts and Spanish dollar accounts. The private banking sector tended to use Spanish dollar accounts at the fixed exchange rate of $1 = 4s 2d. The Eastern Caribbean group formed a monetary union with British Guiana in 1949 and the currency was known as the British West Indies dollar. Trinidad and Tobago left the arrangement in 1964. A new arrangement came about the following year and the currency was renamed the Eastern Caribbean dollar. British Guiana withdrew from this monetary union in 1966 and Barbados withdrew in 1972. (See the main articles at British West Indies dollar, Eastern Caribbean dollar, Trinidad and Tobago dollar, Guyanese dollar, and Barbados dollar.)
Curaçao
The Dutch Caribbean Securities Exchange is located in the capital of Willemstad, as is the Central Bank of Curaçao and Sint Maarten; the latter of which dates to 1828. It is the oldest central bank in the Western Hemisphere. The island's legal system supports a variety of corporate structures and is a corporate haven. Though Curaçao is considered a tax haven, it adheres to the EU Code of Conduct against harmful tax practices. It holds a qualified intermediary status from the United States Internal Revenue Service. It is an accepted jurisdiction of the OECD and Caribbean Financial Action Task Force on Money Laundering. The country enforces Anti-Money Laundering and Counter-Terrorism funding compliance.
Reserve currency
A number of central banks (and commercial banks) keep Canadian dollars as a reserve currency. In the economy of the Americas, the Canadian dollar plays a similar role to that played by the Australian dollar (AUD) in the Asia-Pacific region. The Canadian dollar (as a regional reserve currency for banking) has been an important part of the British, French and Dutch Caribbean states' economies and finance systems since the 1950s. The Canadian dollar is also held by many central banks in Central America and South America. It is held in Latin America because of remittances and international trade in the region.
Jamaican dollar
The Jamaican dollar was used not only by Jamaica, but also by the Cayman Islands and Turks and Caicos Islands, former dependencies of Jamaica, until 1972 and 1973 respectively. In 1972, the Cayman Islands stopped using the Jamaican dollar and adopted its own currency, the Cayman Islands dollar, while in 1973 the Turks and Caicos Islands replaced the Jamaican dollar as legal tender with the United States dollar legal tender.
Japanese government-issued dollar in Malaya and Borneo
The Japanese government-issued dollar was a form of currency issued for use within the Imperial Japan-occupied territories of Singapore, Malaya, North Borneo, Sarawak and Brunei between 1942 and 1945. The currency was also referred informally (and with more than a trace of contempt) as banana money (Malay: "duit pisang"), named as such because of the motifs of banana trees on 10 dollar banknotes. The Japanese dollar was in widespread use within the occupied territories where the previous currency became a scarcity. The currency were referred to as "dollars" and "cents" like its predecessors, the Straits dollar, Malayan dollar, Sarawak dollar and British North Borneo dollar.
Currency of Ecuador
The US dollar became legal tender in Ecuador March 13, 2000, and sucre notes ceased being legal tender on September 11. Sucre notes remained exchangeable at Banco Central until March 30, 2001, at 25,000 sucres per dollar. Ecuador now only issues its own centavo coins.
Cape Verdean escudo
The escudo became the currency of Cape Verde in 1914. It replaced the Cape Verdean real at a rate of 1000 réis = 1 escudo. Until 1930, Cape Verde used Portuguese coins, although banknotes were issued by the Banco Nacional Ultramarino specifically for Cape Verde beginning in 1865.
Cuban peso
In 1993, during the period of economic austerity known as the Special Period, the US dollar was made legal tender to encourage hard currency to enter the economy. The US dollar was the currency used to purchase some non-essential goods and services, such as cosmetics, and even staple kinds of food and drink. In 1994, the convertible peso was introduced at a par with the US dollar. On November 8, 2004, the Cuban government withdrew US dollars from circulation, citing the need to retaliate against further US sanctions.
Daule, Esmeraldas
In a late 1990s a series of financial crises caused the government to abandon its own currency, the sucre, and adopted the U.S. dollar. Ecuador formally adopted the U.S. dollar in the year 2000. Introducing a stronger currency caused great inflation that deeply affected the agricultural industry.
Trinidad and Tobago dollar
From 1949, with the introduction of the British West Indies dollar, the currency of Trinidad and Tobago became officially tied up with that of the British Eastern Caribbean territories in general. The British sterling coinage was eventually replaced by a new decimal coinage in 1955, with the new cent being equal to one half of the old penny. In 1951, notes of the British Caribbean Territories, Eastern Group, were introduced, replacing Trinidad and Tobago's own notes. In 1955, coins were introduced when the dollar was decimalized. In 1964, Trinidad and Tobago introduced its own dollar. Between 1964 and 1968 the Trinidad and Tobago dollar was utilized in Grenada as legal tender until that country rejoined the common currency arrangements of the East Caribbean dollar. The Trinidad and Tobago dollar and the Eastern Caribbean dollar were the last two currencies in the world to retain the old rating of one pound equals four dollars and eighty cents, as per the gold sovereign to the Pieces of eight. Both of these currencies ended this relationship within a few weeks of each other in 1976.
Mauritian dollar
In 1820, in response to a request from the British colony of Mauritius, the imperial government in London struck silver coins in the denominations of , , and dollars. The dollar unit in question was equivalent to the Spanish dollar and these fractional coins were known as 'Anchor Dollars' because of the anchor that appeared on them. More of these anchor dollars were struck in 1822 and not only for Mauritius but also for the British West Indies. In addition to this, a dollar anchor coin was struck for Mauritius. A year or two later, copper dollar fractions were struck for Mauritius, the British West Indies, and Sierra Leone.
Vieques, Puerto Rico
Like the rest of Puerto Rico, the island's currency is the US dollar.
International use of the U.S. dollar
In some countries, such as Costa Rica and Honduras, the U.S. dollar is commonly accepted, although not officially regarded as legal tender. In Mexico's northern border area and major tourist zones, it is accepted as if it were a second legal currency. Many Canadian merchants close to the border, as well as large stores in big cities and major tourist hotspots in Peru also accept U.S. dollars, though usually at a value that favours the merchant. In Cambodia, U.S. notes circulate freely and are preferred over the Cambodian riel for large purchases, with the riel used for change to break 1 USD. After the U.S. liberation of Afghanistan, U.S. dollars are accepted as if it were legal tender.
Dollar
The term "dollar" has also been adopted by other countries for currencies which do not share a common history with other dollars. Many of these currencies adopted the name after moving from a £sd-based to a decimalized monetary system. Examples include the Australian dollar, the New Zealand dollar, the Jamaican dollar, the Cayman Islands dollar, the Fiji dollar, the Namibian dollar, the Rhodesian dollar, the Zimbabwe dollar, and the Solomon Islands dollar.
Belize dollar
At that time, the Canadian dollar was on the gold standard, and one Canadian dollar was equal to one American dollar. This is the point where the currency history of British Honduras diverges from that of the rest of the British West Indies. In 1885, 1 cent coins were issued, followed by higher denominations in 1894. This year also saw the first issue of banknotes by the government and a switch from the silver Guatemalan peso to the gold U.S. dollar as the base for the currency, with $4.866 = 1 pound. The rate of $4.866 as opposed to $4.80 is explained by the fact that when the US dollar was first created in 1792, it was based on the average weight of a selection of worn Spanish dollars. Hence, the US dollar was at a slight discount in relation to the Spanish dollar. Following the introduction of the US dollar gold standard to British Honduras, the 25 cent coins were referred to as shillings due to their closeness in value to shilling sterling.
Currencies of Puerto Rico
In December 2007, the United States Congress approved a measure that included the Commonwealth of Puerto Rico, Washington D.C. and several non-autonomous territories including American Samoa, Guam and the United States Virgin Islands in the 50 State Quarters program. Both commonwealths and territories were excluded from the original program approved in 1998, which was followed by almost ten years of lobbying before they were included. The design on these coins was expected to feature the same George Washington image found in the obverse of the original issues, while the reverse would depict illustrations of something characteristic to that location. The Secretary of Treasury approved the design on July 31, 2008. The coins were issued, as well as "proof coins" and 90% silver special issues. The Puerto Rico coin was the second release in 2009. In 2012, as part of the National Park Quarters Program initiative, the United States Mint will release a quarter commemorating the inclusion of El Yunque National Forest as part of the National Forest System in 1903.
Curaçao
The exchange of Notes between the Governments via the respective Ministry of Foreign Affairs "dated 31 October 2014 and 4 November 2014 between the Parties regarding the application of the TIEA in light of the dissolution of the Netherlands Antilles" of which Curaçao was a member country. On 27 March 2017, the U.S. Department of Treasury site disclosed that the agreement and related contracts were "in force" since 3 August 2016.
Guilder
The Caribbean guilder is a proposed currency for Curaçao and Sint Maarten.
Solomon Islands dollar
The Solomon Islands dollar did not descend directly from the Spanish pieces of eight, as is the case with the US, the Canadian, and East Caribbean dollars; several other currencies called "dollars" are also not direct descendants, e.g., the Australian and Jamaican currencies. The Solomon Islands dollar is an offshoot of the Australian dollar, which is in turn essentially a half pound sterling. Australia followed the pattern of South Africa in that when it adopted the decimal system, it decided to use the half pound as its unit.
Macanese pataca
Although the pataca is the legal tender of Macau, the Hong Kong dollar is almost universally acceptable in the Region, and in some cases, is preferred to the Pataca. Circulation of the pataca is mandated by a decree (Decreto-Lei n.º 16/95/M) prohibiting refusal by merchants, but some casinos flout this rule and refuse bets in patacas. The Hong Kong dollar and Chinese yuan are generally accepted throughout Macau from casinos to restaurants. Payments to government agencies can also be made in both Hong Kong dollars and patacas.
British West Indies dollar
In 1949, the British government formalized the dollar system of accounts in British Guiana and the Eastern Caribbean territories by introducing the British West Indies dollar (BWI$) at the already existing conversion rate of $4.80 per pound sterling (or $1 = 4 shillings 2 pence). It was one of the many experimental political and economic ventures tested by the British government to form a uniform system within their British West Indies territories. The ISO 4217 code of the currency was "XBWD". The symbol "BWI$" for frequently used and the currency was known verbally as the "Beewee" (slang for British West Indies) dollar. Shortly thereafter in the 1950, the British Caribbean Currency Board (BCCB) was set up in Trinidad with the sole right to issue notes and coins of the new unified currency and given the mandate of keeping full foreign exchange cover to ensure convertibility at $4.80 per pound sterling. 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.
George Jamaloodin
George Ranshid Mohammed Jamaloodin (born 21 December 1976) was Curaçao's first Minister of Finance after Curaçao obtained the status of country () upon the dissolution of the Netherlands Antilles on 10 October 2010. In the 2010 general election leading up to obtaining the status of country he was placed third on list of Movement for the Future of Curaçao (MFK), led by Gerrit Schotte, who became Curaçao's first prime minister.
Kingdom of the Netherlands
Curaçao is a centralised unitary state, with similar administrative characteristics to Aruba. It has the Netherlands Antillean guilder as its currency.
Currency of Colombia
The country's name changed to United States of Colombia (Estados Unidos de Colombia) in 1862, and postage stamps were issued for 5, 10, 20, and 50 centavos and for 1 peso. The 15 April 1863 "Convención de Rionegro" ordered public offices to continue accepting French, Belgian, and Italian silver coin of the Colombian standard at 20 centavos per franc, and prohibited the import of coin less than .900 fine. Public offices were authorized to accept silver coins .666 fine in payment of taxes and fees until 1 September 1864. These coins were no longer legal tender between individuals, and they were not accepted in the State of Panamá. The states of Boyacá and Santander immediately prohibited circulation of coin .666 fine, so that such coin flowed into Cundinamarca, where it was still legal tender for public debts. There was considerable speculation in these coins in Bogotá, where they came to form the bulk of circulation. Consequently, a law of 7 April 1864 restored legal tender status, in payment of public debts, to all coin less than .900 fine (but not in the State of Panamá) and budgeted 80,000 pesos to re-coin .666 fine silver (for which purpose a third mint opened at Medellín).
Cayman Islands dollar
On 1 May 1972, the Cayman Islands Currency Board introduced notes in denominations of 1, 5, 10 and 25 dollars. 40 dollar notes were introduced in 1981 but were taken out of circulation a few years later, followed by 100 dollars in 1982 and 50 dollars in 1987. On 1 January 1997, the Cayman Islands Monetary Authority (CIMA) took over issuance of paper money, issuing notes for 1, 5, 10, 25, 50 and 100 dollars. The current series of notes was issued on 4 April 2011.
Dutch Antilles Express
In July 2013, management of Dutch Antilles Express approached the Curacao Airport Holdings group regarding a capital loan of 5m Guilders. It became public that DAE's main competitor, Insel Air, had sent correspondence through the government proposing to purchase the government shares of DAE and take over the operations of the company, which was not pursued by the government. At this point it also became public that DAE had received permission from the Curacao government to develop nine new destinations as compensation for the loss of the Venezuelan markets. Curacao Airport Holdings declined to provide assistance; however, the Curacao Parliament took up the question of providing additional public funds to the airline in August, when it became public that employee salaries had not yet been paid for July.
Dominican peso
The first Dominican peso was introduced with the country's independence from Haiti in 1844. It replaced the Haitian gourde at par and was divided into 8 "reales". The Dominican Republic decimalized in 1877, subdividing the peso into 100 centavos. A second currency, the "franco", was issued between 1891 and 1897 but did not replace the peso. However, in 1905, the peso was replaced by the U.S. dollar, at a rate of 5 pesos to the dollar. The "peso oro" was introduced in 1937 at par with the U.S. dollar, although the dollar continued to be used alongside the peso oro until 1947.
Union Island
The official currency is the Eastern Caribbean Dollar (EC), though U.S. dollars and Euros are widely accepted.
Solomon Islands
The Solomon Islands dollar (ISO 4217 code: "SBD") was introduced in 1977, replacing the Australian Pound Sterling. Its symbol is "SI$", but the "SI" prefix may be omitted if there is no confusion with other currencies also using the dollar sign "$". It is subdivided into 100 cents. Local shell money is still important for traditional and ceremonial purposes in certain provinces and, in some remote parts of the country, for trade. Shell money was a widely used traditional currency in the Pacific Islands, in Solomon Islands, it is mostly manufactured in Malaita and Guadalcanal but can be bought elsewhere, such as the Honiara Central Market. The barter system often replaces money of any kind in remote areas.
Cayman Islands
With an average income of around KYD$47,000, Caymanians have the highest standard of living in the Caribbean. According to the CIA World Factbook, the Cayman Islands GDP per capita is the 38th highest in the world, but the CIA's data for Cayman dates to 2004 and is likely to be lower than present-day values. The territory prints its own currency, the Cayman Islands dollar (KYD), which is pegged to the US dollar 1.227 USD to 1 KYD. However, in many retail stores throughout the islands, the KYD is typically traded at 1.25 USD. The government has established a Needs Assessment Unit to relieve poverty in the islands.
Tamarindo, Costa Rica
Retail shops and restaurants love the American dollar. However, as a rule of thumb, don't use anthing over a $20 bill...forget using a $100. You will get change in colons.
ING Group
Beginning in the 1990s, at the instruction of senior bank management, ING Bank employees in Curaçao began processing payments for ING Bank's Cuban banking operations through its branch in Curaçao on behalf of Cuban customers without reference to the payments' origin. The practice of removing and omitting such information was used by other branches of ING Bank's Wholesale Banking Division, including in France, Belgium, and the Netherlands, in processing US dollar payments and trade finance transactions through the United States. In addition, ING Bank's senior management in France authorised, advised in the creation of, and ultimately provided fraudulent endorsement stamps for use by Cuban financial institutions in processing travelers check transactions, which disguised the involvement of Cuban banks in these transactions when they were processed through the United States. ING Bank's Trade and Commodity Finance business at its Wholesale Banking branch in the Netherlands routed payments made on behalf of US-sanctioned Cuban clients through other corporate clients to obscure the sanctioned clients' identities and its Romanian branch omitted details from a letter of credit involving a US financial institution to finance the exportation of US-origin goods to Iran.
Currencies of the British West Indies
The Turks and Caicos Islands, being a dependency of Jamaica, followed a course similar to that of Jamaica. However, when Jamaica went unto the decimal system in 1969, the Turks and Caicos Islands took the opportunity of changing over to the US dollar.
British West Indies dollar
The British West Indies dollar (BWI$) was the currency of British Guiana and the Eastern Caribbean territories of the British West Indies from 1935 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). The British West Indies dollar was never used in British Honduras, the Cayman Islands, the Turks and Caicos Islands, the Bahamas, or Bermuda.
Bermudian dollar
Since 1972, Bermuda law has required that local businesses charge prices in Bermudian dollars which, if paid in US dollars, must be accepted at a rate of 1:1. Only banks are legally allowed to exchange Bermudian dollars into US dollars or other currencies, subject to a 1% Foreign Currency Purchase Tax (some banks also charge an exchange fee).
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).
Antigua
The country's official currency is the East Caribbean dollar. Given the dominance of tourism, many prices in tourist-oriented businesses are shown in US dollars. The EC dollar is pegged to the US dollar at a varied rate and averages about $1 US = $2.7169 EC.
Territory of Curaçao national football team
The Curaçao national selection performed very well in the Concacaf and the Central American and Caribbean Games, even winning the gold medal in 1950 in the CAC Games. Ergilio Hato became a legend in South America and the Caribbean and is remembered by his nickname "El pantera negra". He got offered several contracts abroad but refused to go pro and choose to stay on his native island. The national stadium of Curaçao is named Ergilio Hato Stadium. 1958 brought another organizational change with the establishment of NAVU, the Netherlands Antilles Football Union. Soon the Aruban AVB affiliated with NAVU and BVB, the Bonaire Football Federation followed in 1959. Now players from the three islands could all participate in the national selection of the Netherlands Antilles. Driving force behind bith NAVU and FFK is Mordy Maduro, president of CVB since 1951 and president of NAVU from 1958–1971. Maduro was elected vice-president of FIFA in 1960 and re-elected in 1968. Thanks to Mordy Maduro many foreign teams visited Curaçao during his presidency. His great contribution to Curaçao football development was honored in 2002 with naming the NAVU development center after him.
Sacagawea dollar
Despite their unpopularity in the United States, the coins have proven popular for commerce in El Salvador and Ecuador, nations that use the United States dollar.
De facto currency
Countries using the United States dollar as their de facto currency include Aruba and Cambodia, where most hotels, restaurants, and transportation are priced in dollars;
Dominican Republic where it is acceptable in many places, including airports to pay temporary visa fees for non-US/Dominican visits; Iraq, where United States commercial, governmental and military involvement due to the Iraq War and the Iraqi Dinar's low value has made the US dollar highly preferred; East Timor, Lebanon, El Salvador, Ecuador and Panama.
Mexican peso
The 18th and 19th century Spanish dollar and Mexican peso were widely used in the early United States. On July 6, 1785, the value of the United States dollar was set by decree to approximately match the Spanish dollar. Both were based on the silver content of the coins.
The first U.S. dollar coins were not issued until April 2, 1792, and the peso continued to be officially recognized and used in the United States, along with other foreign coins, until February 21, 1857. In Canada, it remained legal tender, along with other foreign silver coins, until 1854 and continued to circulate beyond that date. The Mexican peso also served as the model for the Straits dollar (now the Singapore/Brunei Dollar), the Hong Kong dollar, the Japanese yen and the Chinese yuan. The term Chinese yuan refers to the round Spanish dollars, Mexican pesos and other 8 reales silver coins which saw use in China during the 19th and 20th century. The Mexican peso was also briefly legal tender in 19th century Siam, when government mints were unable to accommodate a sudden influx of foreign traders, and was exchanged at a rate of three pesos to one Thai baht.
Cuban convertible peso
When U.S. banknotes are exchanged, a 10% tax is applied, plus an exchange commission. The 10% tax is not applied to other currencies; hence, American visitors may benefit by first changing their money into euros, Canadian dollars, or other hard currencies before they convert them to pesos, although such a benefit would depend on the rate at which they can get the third currency. (Some U.S. banks charge exchange margins of 10% or more.)
Economy of Curaçao
Curaçao has one of the highest standards of living in the Caribbean, ranking 46th in the world in terms of GDP (PPP) per capita and 28th in the world in terms of nominal GDP per capita. It possesses a high income economy, as defined by the World Bank. The island has a well-developed infrastructure with strong tourism and financial services sectors. Shipping, international trade, oil refining, and other activities related to the port of Willemstad (like the Free Trade Zone) also make a significant contribution to the economy. To achieve the government's aim to make its economy more diverse, efforts are being made to attract more foreign investment. This policy, called the 'Open Arms' policy, features a heavy focus on information technology companies.
Fixed exchange-rate system
There are similar examples of countries adopting the U.S. dollar as their domestic currency (dollarization): British Virgin Islands, Caribbean Netherlands, East Timor, Ecuador, El Salvador, Marshall Islands, Federated States of Micronesia, Palau, Panama, Turks and Caicos Islands and Zimbabwe.
Curacao (retail store)
Curacao (pronounced Koo-ra-sao), formerly La Curacao, is a large-format retail store chain. Founded in 1978, Curacao is headquartered in Los Angeles with retail locations in California, Arizona and Nevada.
Caribbean guilder
In April 2014, Curaçao and Sint Maarten agreed to look into the possibility of Curaçao having its own central bank. As long as further negotiations continue, the Caribbean guilder will not be introduced. In July 2015, the Minister of Finance of Curaçao, José Jardim, stated that research on a monetary union between Curaçao and Sint Maarten was not a priority.
Economy of Cuba
In 1994 the possession and use of US dollars was legalised, and by 2004 the US dollar was in widespread use in the country. To capture the hard currency flowing into the island through tourism and remittances – estimated at $500–800 million annually – the government set up state-run "dollar stores" throughout Cuba that sold "luxury" food, household and clothing items, compared with basic necessities, which could be bought using national pesos. As such, the standard of living diverged between those who had access to dollars and those without. Jobs that could earn dollar salaries or tips from foreign businesses and tourists became highly desirable. It was common to meet doctors, engineers, scientists and other professionals working in restaurants or as taxicab drivers.
Eastern Caribbean dollar
During this period, and into the nineteenth century, accounts could be kept in either dollars or sterling. Jamaica, Bermuda, and the Bahamas preferred to use sterling accounts whereas British Guiana used dollar accounts. British Guiana used dollar accounts for the purpose of assisting in the transition from the Dutch guilder system of currency to the British pound sterling system. In the Eastern Caribbean territories the private sector preferred to use dollar accounts whereas the government preferred to use sterling accounts. In some of the Eastern Caribbean territories, notes were issued by various private banks, denominated in dollars equivalent to 4 shillings 2 pence. See Antigua dollar, Barbadian dollar, Dominican dollar, Grenadian dollar, Guyanese dollar, Saint Kitts dollar, Saint Lucia dollar, Saint Vincent dollar and Trinidad and Tobago dollar.
Canadian dollar
Canadian dollars, especially coins, are accepted by some businesses in the northernmost cities of the United States and in many Canadian snowbird enclaves, just as U.S. dollars are accepted by some Canadian businesses.
Jamaican dollar
Jamaica's currency is the Jamaican dollar. The value of the Jamaican dollar fluctuates but at the end of 2018 US$1 was worth approximately J$128. At the time of the currency's introduction, 1969, coins of 1 cent (1.2 pence), 5 cents (6 pence), 10 cents (1 shilling), 20 cents (2 shillings), and 25 cents (2 shillings 6 pence) were produced. With the exception of a smaller bronze 1 cent, the compositions, sizes, and shapes of the coins were identical to those they replaced.
New Zealand dollar
The New Zealand dollar (sign: $; code: NZD, also abbreviated NZ$) () is the official currency and legal tender of New Zealand, the Cook Islands, Niue, the Ross Dependency, Tokelau, and a British territory, the Pitcairn Islands. Within New Zealand, it is almost always abbreviated with the dollar sign ($), with "NZ$" sometimes used to distinguish it from other dollar-denominated currencies. In the context of currency trading, it is often informally called the "Kiwi" or "Kiwi dollar", since New Zealand is commonly associated with the indigenous bird and the one-dollar coin depicts a kiwi.
Dominican peso
The Dominican peso is the currency of the Dominican Republic (). Its symbol is "$", with "RD$" used when distinction from other pesos (or dollars) is required; its ISO 4217 code is "DOP". Each peso is divided into 100 "centavos" ("cents"), for which the ¢ symbol is used. It is the only currency that is legal tender in the Dominican Republic for all monetary transactions, whether public or private.
Bermudian dollar
The Bermudian dollar (symbol: $; code: BMD; also abbreviated BD$; informally called the Bermuda dollar) is the official currency of the British Overseas Territory of Bermuda. It is subdivided into 100 cents. The Bermudian dollar is not normally traded outside Bermuda, and is pegged to the United States dollar at a one-to-one ratio. Both currencies circulate in Bermuda on an equal basis.
Currencies of Puerto Rico
On August 13, 1898, Spain ceded Puerto Rico to the United States as part of the Treaty of Paris, bringing the Puerto Rican Campaign to an end. The "Banco Español de Puerto Rico" was then transferred to invading investors. However, the terms signed in the armistice, stated that the United States would have to respect all the charters that were previously granted by Spain to its former colonies. This was certified by the United States Congress on June 6, 1900. Thus, the bank continued issuing provincial currency in Puerto Rico, but was renamed "El Banco de Puerto Rico" or Bank of Puerto Rico. The capital used by the currency was changed from "peso" to dollars, giving birth to the Puerto Rican dollar. A proposal to print 1-dollar banknotes was suggested, but refused citing that it could "bring dangerous results". Series C bills were issued with a release date of "May 1, 1900" and were overstamped with "Moneda Americana" in bold red letters. They bore the signatures of the new bank governor Carlos María Soler and cashier Manuel Vicente. This marked the first and only time that currency valorized in dollars was issued outside the United States.
Series E was introduced subsequently. The banknotes for this issue were bilingual, featuring the bank's name both in Spanish and English. Early specimens for Series F were produced in 1907, but they never reached circulation. The bills for this issue featured the profiles of Christopher Columbus and Juan Ponce de León. The colonial government intended to eliminate all Spanish captions from these notes, intending to accelerate a failed "Americanization" process in Puerto Rico. Series F ultimately entered circulation on July 1, 1909, still featuring bilingual captions and exhibiting a higher degree of technical quality. In 1913, the charter granted by Spain expired and the bank was closed and its assets were liquidated. After this date, Puerto Rico's economy was fully integrated into the United States' currency system, while Puerto Rican dollars were redeemed for United States dollars. Banknotes valorized in millions continued in circulation, thus a collect was ordered and held between January 16 – 24, 1916. The remaining bills, with an estimated value of $14,872 were taken out of circulation nine years later by the Puerto Rico Commercial Bank.
Eastern Caribbean dollar
The other two associate members of the OECS do not use the Eastern Caribbean dollar as their official currency: the British Virgin Islands and Martinique. The British Virgin Islands were always problematic for currency purposes due to their proximity to the Danish West Indies which became the US 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 francs and U.S. dollars. In 1951, the British Virgin Islands adopted the British West Indies dollar which at that time operated in conjunction with the sterling coinage, and in 1959 they changed over officially to the U.S. dollar.
List of people on banknotes
Currency: Dollar (since 1792)Symbol: $"See also Federal Reserve Note and United States dollar."
Currency: Peso Uruguayo (since 1993)Symbol: $U"See also Uruguayan peso."
Currency: Soʻm (since 1993)"See also Uzbekistani soʻm."
Currency: Venezuelan bolívar soberano ("sovereign bolívar") (since 2018)Symbol: Bs.S"See also Venezuelan bolívar."
Economy of Saint Lucia
St. Lucia's currency is the Eastern Caribbean Dollar (EC$), a regional currency shared among members of the Eastern Caribbean Currency Union (ECCU). The Eastern Caribbean Central Bank (ECCB) issues the EC$, manages monetary policy, and regulates and supervises commercial banking activities in its member countries. The ECCB has kept the EC$ pegged at EC$2.7=U.S. $1.
Bonaire
In 2011 the BES Islands replaced their currency, the Netherlands Antillean guilder (: ANG, symbol: ƒ), with the US dollar rather than replacing it with the euro which is used in the European Netherlands. The decision was based primarily on the needs for tourism and trade. Most countries and territories in the Caribbean use the dollar as their currency or have a currency linked to the dollar as legal tender. The guilder has been pegged to the US dollar for decades with an exchange rate of ƒ1.79 = US$1.00. Adopting the dollar put an end to the dual-currency payment system and foreign exchange charges. The guilder remained in use in Curaçao and Sint Maarten.
Canadian dollar
The Colony of British Columbia adopted the British Columbia dollar as its currency in 1865, at par with the Canadian dollar. When British Columbia joined Confederation in 1871, the Canadian dollar replaced the British Columbia dollar.
North American monetary union
Lower levels of currency cooperation have been practiced in the Americas before. Some nations such as Argentina and Brazil have at times tied their currency to the U.S. dollar. Some of them, such as Aruba, Bahamas, Barbados, and the Organisation of the Eastern Caribbean, still do.
Economic policy of the Hugo Chávez administration
The SUCRE system is a virtual currency system used mainly by Venezuela and Ecuador. There are some risks such as money laundering and fraud. However, it has been seen as beneficial for trade since Ecuador uses the United States dollar as its national currency and Venezuela's strict currency controls have created a US dollar shortage in Venezuela.
Tobagan dollar
The dollar was the currency of Tobago until 1814. The currency comprised various cut Spanish dollars and countermarked French colonial coins. The dollar was subdivided into 11 "bits", each of nine "pence". In 1814, sterling was established as the official currency of the island. Since 1905, dollars have once more circulated on Tobago, first the Trinidad and Tobago dollar, then the British West Indies dollar, before the Trinidad and Tobago dollar was reintroduced.
SUCRE
In the case of ALBA members Dominica, Saint Vincent and the Grenadines, and Antigua and Barbuda, the new currency poses a dilemma as they are already a member of the Eastern Caribbean Currency Union and use the East Caribbean dollar, although none of them have agreed to the treaty establishing the SUCRE and the regional payments clearinghouse.
Postage stamps and postal history of Curaçao
Curaçao, a country within the Kingdom of the Netherlands started issuing postal stamps after the dissolution of the Netherlands Antilles on 10 October 2010. The island forms one of the five postage regions in the Kingdom. The first stamp issued shows the map of the island. The value of the current stamp is denominated in Netherlands Antillean guilders.
Curaçao
The Dutch West India Company founded the capital of Willemstad on the banks of an inlet called the Schottegat. Curaçao had been ignored by colonists, because it lacked gold deposits. The natural harbour of Willemstad proved to be an ideal spot for trade. Commerce and shipping—and piracy—became Curaçao's most important economic activities. In addition, in 1662, the Dutch West India Company made Curaçao a centre for the Atlantic slave trade, often bringing slaves here for sale elsewhere in the Caribbean and on the mainland of South America.
Currency substitution
Full currency substitution has mostly occurred in Latin America, the Caribbean and the Pacific, as many countries in those regions see the United States Dollar as a stable currency compared to the national one. For example, Panama underwent full currency substitution by adopting the US dollar as legal tender in 1904. This type of currency substitution is also known as de jure currency substitution.
United States dollar
Since the suspension in 1971 of convertibility of paper U.S. currency into any precious metal, the U.S. dollar is, "de facto", fiat money. As it is the most used in international transactions, the U.S. dollar is the world's primary reserve currency. Several countries use it as their official currency, and in many others it is the "de facto" currency. Besides the United States, it is also used as the sole currency in two British Overseas Territories in the Caribbean: the British Virgin Islands and Turks and Caicos Islands. A few countries use the Federal Reserve Notes for paper money, while still minting their own coins, or also accept U.S. dollar coins (such as the Sacagawea or presidential dollar). As of June 27, 2018, there are approximately $1.67 trillion in circulation, of which $1.62 trillion is in Federal Reserve notes (the remaining $50 billion is in the form of coins).
Cayman Islands dollar
On the islands, the US dollar is accepted as legal currency by hotels, restaurants, and retail establishments at the rate of 1 US Dollar for every 80 Cayman cents. Change is usually given in Cayman Island dollars.
Eastern Caribbean dollar
In 1958, the West Indies Federation was established and the BWI$ was its currency. However, although Jamaica (including the Cayman Islands and the Turks and Caicos Islands) was part of the West Indies Federation, it retained the Jamaican pound, despite adopting the BWI$ as legal tender from 1954. Jamaica, the Cayman Islands, and the Turks and Caicos Islands were already long established users of the sterling accounts system of pounds, shillings, and pence.
Curaçao
Curaçao trades mainly with the United States, Venezuela, and the European Union. It has an Association Agreement with the European Union which allows companies which do business in and via Curaçao to export products to European markets, free of import duties and quotas. It is also a participant in the US Caribbean Basin Initiative allowing it to have preferential access to the US market.
Central Bank of Curaçao and Sint Maarten
The Central Bank of Curaçao and Sint Maarten (, previously the "Bank of the Netherlands Antilles") is the central bank for the Netherlands Antillean guilder and administers the monetary policy of Curaçao and Sint Maarten. The bank dates to 1828 making it the oldest central bank in the Americas.
Curaçao reaal
In 1818, fifth and third cut 8 real coins were stamped with "3" and "5", respectively to produce 3 and 5 reaal coins. Issue of the 3 reaal coins continued until 1825. In 1821, silver 1 reaal coins were struck, followed by 1 stuiver coins in 1822. After the introduction of the Dutch currency, the 1 stuiver coins were again struck in 1840 and 1841 (without changing the date) and circulated as 2 cent coins.
Khaleeji (currency)
The currencies of Saudi Arabia, the UAE, Qatar, Oman, and Bahrain are pegged to the US Dollar. Kuwait's Dinar is pegged to a basket of currencies including the US Dollar and the Euro. Saudi Arabia rejected calls for the International Monetary Fund SDR to be used as a reserve currency.
Dollar sign
However, for usage as the special character in various computing applications (see following sections), U+0024 is typically the only code that is recognized.In addition to those countries of the world that use dollars or pesos, a number of other countries use the $ symbol to denote their currencies, including:
International use of the U.S. dollar
Some countries that have adopted the U.S. dollar issue their own coins: See Ecuadorian centavo coins, Panamanian Balboa and East Timor centavo coins.
United Arab Emirates dirham
By August 2006 it became publicly known that the Philippine one peso coin is the same size as one dirham. As 1 peso is only worth 8 fils, this has led to vending machine fraud in the UAE.
Pakistan's 5 rupee coin, the Omani 50 Baisa coin and the Moroccan 1 dirham are also the same size as the U.A.E. one dirham coin. A falcon watermark is present on all dirham notes to prevent fraud.
Eastern Caribbean dollar
In 1949, the British government formalized the dollar system of accounts in British Guiana and the Eastern Caribbean territories by introducing the British West Indies dollar (BWI$) at the already existing conversion rate of $4.80 per pound sterling (or $1 = 4 shillings 2 pence). It was one of the many experimental political and economic ventures tested by the British government to form a uniform system within their British West Indies territories. The ISO 4217 code of the currency was "XBWD". The symbol "BWI$" for frequently used and the currency was known verbally as the "Beewee" (slang for British West Indies) dollar. Shortly thereafter in the 1950, the British Caribbean Currency Board (BCCB) was set up in Trinidad with the sole right to issue notes and coins of the new unified currency and given the mandate of keeping full foreign exchange cover to ensure convertibility at $4.80 per pound sterling. 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.
Cuban economic reforms
Following the decriminalization of the possession of American Dollars in 1993, the government created special stores in which individuals who possessed the USD could shop for items not available to individuals who only possessed the peso. Moreover, by September 1995, it was possible to deposit hard currency with interest in the Cuban National Bank, by October of that same year, the government had created Foreign Currency Exchange houses (Casas de Cambio, CADECA) with 23 branches throughout the island where Cubans could exchange USD for pesos at a rate similar to that of the Black Market.
Economy of Dominica
Dominica is a member of the Eastern Caribbean Currency Union (ECCU). The Eastern Caribbean Central Bank (ECCB) issues a common currency (the East Caribbean dollar) to all eight members of the ECCU. The ECCB also manages monetary policy, and regulates and supervises commercial banking activities in its member countries. Dominica is a beneficiary of the U.S. Caribbean Basin Initiative (CBI). Its 1996 exports to the U.S. were $7.7 million, and its U.S. imports were $34 million. Dominica is also a member of the 15-member Caribbean Community (CARICOM) and of the Organisation of Eastern Caribbean States (OECS).
Ecuadorian sucre
On January 9, President Jamil Mahuad announced that the US dollar was to be adopted as Ecuador's official currency, although the US dollar had already had wide informal use in Ecuador before this decision was made. The US dollar became legal tender in Ecuador on March 13, 2000, as sucre notes ceased to be legal tender on September 11, 2000. Sucre notes were exchangeable at a rate of 25,000 sucre per dollar at Banco Central until March 30, 2001.
Dollar store (Cuba)
In November 2004, the US dollar ceased to be legal tender to use in cash commercial transactions and was replaced by the Cuban convertible peso. However, the "dollar stores" remained open and despite their acceptance of only the convertible peso, the term "dollar stores" remained in colloquial use.