The dollar is the currency of Trinidad and Tobago. It is normally abbreviated with the dollar sign $, or alternatively TT$ to distinguish it from other dollar-denominated currencies. It is subdivided into 100 cents. Its predecessor currencies are the Trinidadian dollar and the Tobagan dollar.

Summary info

Summary information about Trinidad and Tobago dollar

ISO 4217 Code:

TTD

Currency sign:

$ or TT$

Country:

Trinidad and Tobago

Subunit:

cent

Coins:

1 cent, 5 cents, 10 cents, 25 cents, 50 cents, 1 Trinidad and Tobago dollar

Banknotes:

1 Trinidad and Tobago dollar, 5 Trinidad and Tobago dollars, 10 Trinidad and Tobago dollars, 20 Trinidad and Tobago dollars, 50 Trinidad and Tobago dollars, 100 Trinidad and Tobago dollars

Central bank:

Central Bank of Trinidad and Tobago

History

Trinidad and Tobago were discovered by Christopher Columbus in 1498. Trinidad was established as a British colony in 1762 (though it was under French rule from 1781 to 1793 and from 1802 to 1803). Tobago was established as a British colony in 1797. Trinidad and Tobago were united on January 1, 1899, and were part of the Federation of the West Indies from January 3, 1958 until May 31, 1962. Trinidad and Tobago became an independent constitutional monarchy on August 31, 1962, and became a republic on March 1, 1976.

While Tobago was under Spanish rule, Bits (plugs out of Spanish 8 Real coins) were used as money with the center hole equal to 1.5 Bits and an 8 Real coin missing its center equal to 11 Bits. One Bit was equal to about 9 Pence. These coins were introduced in 1798 in Tobago and 1804 in Trinidad. Copper coins were generally not used on the islands until after 1850.

The British introduced the Pound Sterling, and it was used while Trinidad and Tobago were separate British colonies. After the two islands were joined together to form Trinidad and Tobago, the government of Trinidad and Tobago issued Dollar banknotes (TTD). The British West Indies Dollar (XBWD) replaced the Trinidad and Tobago Dollar at par in 1935, though Trinidad and Tobago continued to issue its own banknotes until 1951. On August 1, 1951, the Board of Commissioners of Currency, British Caribbean Territories (Eastern Group) became the sole note-issuing authority for the British West Indies Dollar. The Central Bank of Trinidad and Tobago began issuing its own Dollar in 1964, at par with the British West Indies Dollar. British West Indies Dollars ceased to be legal tender on December 31, 1965. East Caribbean Dollars also circulated in Trinidad and Tobago, but were not legal tender.

Coins

In 1966, coins were introduced in denominations of 1¢, 5¢, 10¢, 25¢ & 50¢. A large sized $1 coin was first released for circulation in 1969 and again in 1979 before being replaced with a smaller sized version in 1995 more regularly minted.

The 1¢ & 5¢ are struck in bronze, with the other denominations in cupro-nickel. The obverses all feature Trinidad and Tobago's coat of arms, with the reverse designs solely featuring the denomination until 1976, when they were replaced by either a national bird or flower in addition to the denomination after the declaration of a republic. The 50¢ & $1 coins are scarcely seen in circulation.

Banknotes

In 1898, the Colonial Bank introduced $20 notes. These were followed in 1901 by $5. $100 notes were also issued. The last notes were issued in 1926, after which the Colonial Bank was taken over by Barclays Bank, which issued $5, $20 & $100 notes until 1941.

In 1905, notes were introduced by the government in denominations of $1 & $2, followed by $5 in 1935, followed by $10 & $20 in 1942.

The Royal Bank of Canada introduced $5, $20 & $100 notes in 1909. From 1920, the notes also bore the denomination in sterling. 100-dollar notes were not issued after 1920, whilst the $5 and $20 were issued until 1938. The Canadian Bank of Commerce introduced $5, $20 & $100 notes in 1921, with the $5 & $20 notes issued until 1939.

On 14 December 1964, the Central Bank of Trinidad and Tobago introduced notes for $1, $5, $10 & $20. New denominations in the form of $50 & $100 notes were issued on 6 June 1977, although the $50 note was not continued after a shipment was stolen prior to issue. The $50 note was taken out of its brief circulation. The reverses of the current notes feature the Central Bank Building of Trinidad & Tobago. The obverses have the coat of arms in the center, a national bird and a place in Trinidad, such as a market, petroleum refinery, etc. In 2002, new $1 & $20 notes were introduced. In 2003, new $1, $5, $10 & $100 were also introduced. The notes were only slightly changed; they now have more security features & darker color. Recently, more security features have been added to the notes by the Central Bank of Trinidad and Tobago. In 2012 the $50 note was reintroduced to commemorate Trinidad and Tobago's Golden Jubilee of Independence. On the front of the note is a Red-capped cardinal bird and the commemorative text around the center of the coat of arms.

TTD banknotes pictures gallery

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Useful links

About Central Bank of Trinidad and Tobago:

Central Bank of Trinidad and Tobago

List of currencies:

Currencies

Security and design features of TTD banknotes:

TTD banknotes

TTD currency on Wikipedia:

Trinidad and Tobago dollar

Official Website of Central Bank of Trinidad and Tobago:

www.central-bank.org.tt

Commemorative coins:

Commemorative Coins