East Caribbean Dollar
East Caribbean Dollar
Currency Code
XCD
ISO 951
Symbol
XCD
Native: $
Decimal Digits
2
Rounding: 0
Countries
AI, AG, DM, GD, MS, KN, LC, VC
Using this currency
Currency Units
Major Unit
Name: dollar
Symbol: $
Minor Unit
Name: cent
Symbol: ¢
Value: 0.01
Banknotes
Frequently Used
$5$10$20$50$100
Coins
Frequently Used
5¢10¢25¢$1
Rarely Used
1¢2¢
Plural Forms
English Plural
East Caribbean dollars
Native Plural
East Caribbean Dollars
Overview
The East Caribbean Dollar is the currency of eight Caribbean territories: Antigua and Barbuda, Dominica, Grenada, Saint Kitts and Nevis, Saint Lucia, Saint Vincent and the Grenadines, Anguilla, and Montserrat. It is pegged to the US dollar and managed by the Eastern Caribbean Central Bank.
Economy
- Eastern Caribbean Currency Union (ECCU) is a member of CARICOM, OECS, OAS, Commonwealth.
- Main industries include: Tourism, Agriculture, Light manufacturing, Construction.
- Eastern Caribbean Currency Union (ECCU) is part of the World Trade Organization.
- Imports are food, manufactured goods, machinery, chemicals, fuel.
- Major exports include bananas, sugar, clothing, electronics, chemicals, beverages.
- GDP: $7.1 billion (2023 est., combined ECCU).
- GDP per capita: $11,789 (2023 est., ECCU average).
- Unemployment rate: 18.4% (2017 est., ECCU average).
- Inflation rate: 4.1% (2023 est., ECCU average).
- Main trading partners: United States, United Kingdom, Trinidad and Tobago, Canada, Japan.
- Trade agreements: CARICOM Single Market, EPA with EU, CARIFORUM-UK EPA.
History
- Previous currencies used: British West Indies dollar, British pound.
- The East Caribbean dollar was introduced in 1965, replacing the British West Indies dollar. It has maintained a fixed peg to the US dollar since 1976.
- 1965: XCD introduced, replacing British West Indies dollar
- 1976: Pegged to USD at 2.7:1
- 1983: Eastern Caribbean Central Bank established
- 1988: ECCU formed
- 2019: Digital currency pilot project launched
- Exchange rate peg: USD (1976-present) at 2.7 XCD = 1 USD.
- Currently pegged to USD at 2.7 XCD = 1 USD.
General Information
- ISO 4217 Code: XCD
- Symbols: XCD/$
- Currency Subunits: 100 cents
- Central Bank: Eastern Caribbean Central Bank (ECCB)
- Monetary Policy: Currency board system maintaining USD peg. Common monetary policy across eight territories focusing on tourism-dependent economies.
- Bills: 5 XCD, 10 XCD, 20 XCD, 50 XCD, 100 XCD
- Coins: 1 cent, 2 cents, 5 cents, 10 cents, 25 cents, 1 dollar
- USD Exchange Rate: 2.70
- Pegged To: USD at 2.7 XCD = 1 USD
- Capital: Basseterre (ECCB headquarters)
- Population: 606,992 (2023 est., ECCU total)
- Area: 2,854 km² (ECCU total)
- Languages: English (official), French Creole
- Time Zones: UTC-4 (Atlantic Standard Time)
- Government Type: Monetary union of sovereign states and territories
- Head of Government: ECCB Governor, individual territory leaders
- Independence: Various dates from 1960s-1980s
- Ethnic Groups: African descent 85%, Mixed 10%, Indigenous 2%, European 1%, Other 2%
- Religions: Protestant 68%, Roman Catholic 20%, Other Christian 8%, Other 4%
- Literacy Rate: 95.3% (regional average)
- Transport: Regional airports, ferry connections, limited road networks, cruise ship ports
- Communications: Good telecommunications, 77% internet penetration (regional average)
- Energy: Fossil fuels 85%, Renewables 15% (growing solar and wind)
- Countries Using This Currency: Eastern Caribbean Currency Union (ECCU)
- Data Sources: Central Bank: Eastern Caribbean Central Bank (eccb-centralbank.org), Economic Data: ECCB, individual territory statistics offices, World Bank, IMF, Trade Data: Regional customs services, Demographic Data: National statistical offices, Geographic Data: Caribbean Meteorological Organisation, Historical Data: ECCB archives
- Last Updated: 2025