The East Caribbean States is not a country. It is an affiliation both politically and economically of several island nations. Essentially, it consists of former and present members of the British Caribbean Territories (Eastern Group). The members include Antigua and Barbuda, St. Kitts and Nevis, St. Lucia, St. Vincent and the Grenadines, Granada, and Dominica. The currency of the former Eastern Currency Bank is listed as XCD. It is set at 100 cents equal 1 dollar.
History
The story of this form of mutual currency dates back to 1950. A large group of British Caribbean island countries aligned themselves to create a single currency board. At the time, the countries included Trinidad and Tobago, British Guiana, the British Virgin Islands, Anguilla, St. Kitts, Nevis, Antigua, Dominica, St. Lucia, St. Vincent and Granada. They formed the British Caribbean Territories (Eastern Group) Currency Board. Its intent was to create a currency separate from Britain’s.
The common coinage was the dollar worth 100 cents. The Royal Mint struck coinage for this purpose between 1955 and 1965. There were 1/2, 1, 2, 5, 10, 25 and 50 cents. There were also banknotes.
In 1965,
the East Caribbean States dollar replaced the British Caribbean
Territories accepting the BCT dollar at par with the new ECS dollar.
The new coinage consisted of banknotes in 1965 then coins in 1981. The
old dollars, however, continued to circulate among the member islands
until 1981.
In 1981, the formation of the Organization of Eastern
Caribbean States created a solid political entity. The OECS also took
over the production of the currency. The new system of money consisted
of 1, 2, 5, 10 and-25 cent coins as well as a 1-dollar coin. Under the
new Eastern Caribbean Authority and the Eastern Caribbean Bank, notes
issued included 1, 5, 10, 20 and 100-dollar bills. The 1-dollar bill
was discontinued in 1989 but in 1993, they added a 50-dollar note.
Obtaining East Caribbean Dollars
You can exchange your own currency for East Caribbean dollars on any of the member islands. Check out the commercial banks and the exchange offices. Hotels are another source of currency exchange. You can always rely on ATMs or ABMs. Check first with your own bank for rates of exchange. You can usually locate ATMs in banks, stores, shopping centers and other businesses
Protecting Your Currency
Crime is on the increase in this country. You need to take the usual precautions. Do not flash your cash or show signs of affluence. Do not leave your personal belongings alone o the beaches. Petty crimes such as pickpocketing and purse snatching are more prevalent in the cities
Using Your East Caribbean Dollars
The East Caribbean dollar is legal tender in OECS members. The only exception is the British Virgin Islands. You can use them for all the usual purchases.
Travel Tips and Warnings
- The usual precautions apply to each country within the union.
- Weather is always a factor in the timing of any visit.
Overview
The
East Caribbean States is not a country but a monetary alliance of
several islands within the British Islands. The commonality is a
British colonial past and the use of a common currency.
For travel information, see the Lonely Planet.
Currency Summary
Current currency: dollar
100 cents equals 1 dollar
Coins: 1, 2, 5, 10, 25-cents
Banknotes: 1, 10, 20, 50 and 100-dollars.