The Trinidad and Tobago Dollar (TTD) is the official currency of Trinidad and Tobago, a vibrant twin-island nation in the Caribbean.

The TTD not only supports the local economy but also reflects Trinidad and Tobago’s unique blend of Caribbean, African, Indian, and European influences.

This guide covers everything you need to know about the TTD, from its history and role in the economy to current exchange rates.

What is the Trinidad and Tobago Dollar (TTD)?

The Trinidad and Tobago Dollar, abbreviated as TT$ with the ISO code TTD, is the national currency used throughout Trinidad and Tobago. One dollar consists of 100 cents, and the currency is available in both coins and banknotes.

The TTD is unique among Caribbean currencies due to the islands’ major oil and gas industries, which support a robust local economy and affect the currency’s stability.

History of the Trinidad and Tobago Dollar (TTD)

The Trinidad and Tobago Dollar was introduced in 1964 after gaining independence from the British colonial system. Prior to this, Trinidad and Tobago used the British West Indies dollar.

With the establishment of the TTD, the country embraced an independent currency that would grow to reflect its economic strength, supported by oil and gas exports.

Over the years, the currency has undergone a few design changes, reflecting the evolving identity of the nation.

Denominations of the Trinidad and Tobago Dollar (TTD)

The TTD is available in several denominations, covering both coins and banknotes. Here’s a look at the current denominations:

• Coins: The TTD coins include 1, 5, 10, 25, and 50 cents.
• Banknotes: Available denominations include 1, 5, 10, 20, 50, and 100 Trinidad and Tobago Dollars.

Each TTD banknote features local landmarks, historical figures, or symbols of the nation’s cultural diversity. For example, the $100 note depicts the hummingbird, a national symbol, alongside images representing Trinidad and Tobago’s heritage.

Economic Role of the Trinidad and Tobago Dollar (TTD)

The TTD plays a vital role in Trinidad and Tobago’s economy, particularly in industries like energy, tourism, and agriculture.

The National Gas Company and Petrotrin, the state oil company, generate substantial revenue, making Trinidad and Tobago one of the wealthiest Caribbean nations. This economic strength supports the TTD’s value, even in the face of fluctuations in global oil prices.

Trinidad and Tobago’s tourism sector also brings in foreign currency, helping maintain the TTD’s value. Tourists and visitors can exchange popular currencies, such as USD, GBP, and EUR, in local banks or exchange bureaus.

TTD Exchange Rates and Influencing Factors

As of the latest data, here are approximate exchange rates for the TTD:

These rates can change based on economic factors like oil prices, trade balances, and remittances from Trinidadians living abroad. As a major oil exporter, Trinidad and Tobago’s economy and, by extension, the TTD benefits when oil prices are high.

However, low oil prices can impact the TTD’s strength, leading to fluctuations in its value against major currencies.

Conclusion

The Trinidad and Tobago Dollar (TTD) is more than just currency; it’s a reflection of a dynamic Caribbean economy shaped by rich cultural diversity and a thriving energy industry. From its distinctive denominations to its vital role in tourism and trade, the TTD remains central to Trinidad and Tobago’s national identity and economic resilience.