TTD (Trinidad and Tobago Dollar)

AAA

DEFINITION of 'TTD (Trinidad and Tobago Dollar)'

The currency abbreviation for the Trinidad and Tobago dollar (TTD), the currency for Trinidad and Tobago. The Trinidad and Tobago dollar is made up of 100 cents and is often presented with the symbol TT$ to differentiate it from other currencies that are also denominated in dollars.

INVESTOPEDIA EXPLAINS 'TTD (Trinidad and Tobago Dollar)'

When first introduced in 1898, the dollar was used alongside the Great Britain pound at an exchange rate of TT$1 = 4 shillings and 2 pence. From 1935 to 1950, the Trinidad and Tobago dollar had the same value as the British West Indies dollar, and in 1951 the TTD was replaced with notes of the British Caribbean Territories, Eastern Group.

The East Caribbean dollar was replaced at par in 1964 with the Trinidad and Tobago dollar in use today. Unlike in many other Caribbean countries, the Trinidad and Tobago dollar is not pegged, and is allowed to float freely against other currencies.

RELATED TERMS
  1. Currency

    A generally accepted form of money, including coins and paper ...
  2. Forex - FX

    The market in which currencies are traded. The forex market is ...
  3. Quote Currency

    The second currency quoted in a currency pair in forex. In a ...
  4. Base Currency

    The first currency quoted in a currency pair on forex. It is ...
  5. Currency Pair

    The quotation and pricing structure of the currencies traded ...
  6. Forex Futures

    An exchange-traded contract to buy or sell a specified amount ...
Related Articles
  1. A Primer On The Forex Market
    Options & Futures

    A Primer On The Forex Market

  2. Currency Exchange: Floating Rate Vs. ...
    Forex Education

    Currency Exchange: Floating Rate Vs. ...

  3. Dollarization Explained
    Forex Education

    Dollarization Explained

  4. 6 Factors That Influence Exchange Rates
    Bonds & Fixed Income

    6 Factors That Influence Exchange Rates

comments powered by Disqus
Hot Definitions
  1. Letter Of Credit

    A letter from a bank guaranteeing that a buyer's payment to a seller will be received on time and for the correct amount. ...
  2. Due Diligence - DD

    1. An investigation or audit of a potential investment. Due diligence serves to confirm all material facts in regards to ...
  3. Certificate Of Deposit - CD

    A savings certificate entitling the bearer to receive interest. A CD bears a maturity date, a specified fixed interest rate ...
  4. Days Sales Of Inventory - DSI

    A financial measure of a company's performance that gives investors an idea of how long it takes a company to turn its inventory ...
  5. Accounts Payable - AP

    An accounting entry that represents an entity's obligation to pay off a short-term debt to its creditors. The accounts payable ...
  6. Ratio Analysis

    Quantitative analysis of information contained in a company’s financial statements. Ratio analysis is based on line items ...
Trading Center