GYD (Guyanese Dollar)

DEFINITION of 'GYD (Guyanese Dollar)'

The currency abbreviation or currency symbol for the Guyanese dollar (GYD), the currency for Guyana. The Guyanese dollar is made up of 100 cents and is often represented with the symbol G$. However, 1-cent coins are no longer used in Guyana due to inflation.

BREAKING DOWN 'GYD (Guyanese Dollar)'

The Guyanese dollar was first seen in 1839 and has undergone many changes. It first appeared in its present form in 1966. The modern banknotes are issued in denominations of 1, 5, 10, 20, 100, 500 and 1000 dollars. Coins are now issued in denominations of 5, 10, 25 and 50 cents and 1, 5 and 10 dollars.

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