Exchange Rates

11     Exchange Rates

1     Eastern Caribbean Central Bank

East Caribbean dollar (currency code XCD) is the currency of eight members of the Organisation of Eastern Caribbean States. It has existed since 1965 and is normally abbreviated with the dollar sign $, or alternatively EC$ to distinguish it from other dollar-denominated currencies. It is divided into 100 cents

Caribbean dollar is pegged to the US dollar at USD 1= XCD 2.7000 since 1976

Six of the members using the XCD are independent states: Antigua and Barbuda, Dominica, Grenada, Saint Kitts and Nevis, Saint Lucia, and Saint Vincent and the Grenadines. The other two are British overseas territories: Anguilla and Montserrat. The only OECS member state not using the Eastern Caribbean dollar is British Virgin Islands, which uses the U.S. dollar.

Eastern Caribbean dollar is issued by the Eastern Caribbean Central Bank based in Saint Kitts and Nevis. The bank was established by an agreement (the Eastern Caribbean Central Bank Agreement) signed at Port of Spain on July 5, 1983, as successor to the Eastern Caribbean Currency Authority. The currency is a successor to the West Indies dollar used by the extinct
West Indies Federation
.

(source - wikipedia)
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