VUV (Vanuatu Vatu)

AAA

DEFINITION of 'VUV (Vanuatu Vatu)'

The currency abbreviation for the Vanuatu vatu (VUV), the currency for Vanuatu. The Vanuatu vatu has no subunit, and is often presented with the symbol Vt. Vanuatan residents refer to a notional dollar that equals 100 vatu, which comes from the period of 1966 to 1973 when the New Hebrides franc (the currency at the time) was pegged to the Australian dollar (AUD) at a rate of 100 francs to 1 Australian dollar.

INVESTOPEDIA EXPLAINS 'VUV (Vanuatu Vatu)'

The vatu was first introduced to replace the New Hebrides franc at par after Vanuatu claimed its independence. After this replacement, the Australian dollar (on which the franc was valued) was no longer accepted as a currency in the nation.

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. Ghosting

    An illegal practice whereby two or more market makers collectively attempt to influence and change the price of a stock. ...
  2. Elasticity

    A measure of a variable's sensitivity to a change in another variable. In economics, elasticity refers the degree to which ...
  3. Tangible Common Equity - TCE

    A measure of a company's capital, which is used to evaluate a financial institution's ability to deal with potential losses. ...
  4. Yield To Maturity (YTM)

    The rate of return anticipated on a bond if held until the maturity date. YTM is considered a long-term bond yield expressed ...
  5. Net Present Value Of Growth Opportunities - NPVGO

    A calculation of the net present value of all future cash flows involved with an additional acquisition, or potential acquisition. ...
  6. Gresham's Law

    A monetary principle stating that "bad money drives out good." In currency valuation, Gresham's Law states that if a new ...
Trading Center