DEFINITION of 'XCD (Eastern Caribbean Dollar)'

The currency abbreviation or the currency symbol for the Eastern Caribbean Dollar is XCD, and it serves as the official currency for the eight member countries apart of the Organization of the Eastern Caribbean States (OECS) i.e. Anguilla, Antigua and Barbuda, Dominica, Grenada, Montserrat, Saint Kitts and Nevis, Saint Lucia, and Saint Vincent and the Grenadines. The currency is made up of 100 cents and is often presented with the symbol EC$ to differentiate it from other currencies that are also denominated in dollars.

BREAKING DOWN 'XCD (Eastern Caribbean Dollar)'

The Eastern Caribbean Dollar is one of the Caribbean's oldest currencies. It came into existence in 1965 after replacing the British West Indies dollar. The Eastern Caribbean Dollar operates under a fixed exchange rate regime. Since July 7, 1976 the Eastern Caribbean Dollar has been pegged to the United States Dollar at US$1 for XCD$2.7.

RELATED TERMS
  1. Organisation of Eastern Caribbean ...

    The Organisation of Eastern Caribbean States (OECS) is an economic ...
  2. Caribbean Community and Common ...

    The Caribbean Community and Common Market (CARICOM) is a common ...
  3. Caribbean Free Trade Association ...

    The Caribbean Free Trade Association (CARIFTA) is a multilateral ...
  4. Caribbean Single Market and Economy ...

    An initiative currently being explored and slowly implemented ...
  5. USD (United States Dollar)

    The currency abbreviation for the United States dollar (USD), ...
  6. CAD

    What currency is CAD? CAD is the currency abbreviation or currency ...
Related Articles
  1. Insights

    List of the Major Stock Exchanges in the Caribbean

    Though the Caribbean is well-known for its beautiful beaches and vibrant music, it has an emerging capital market that should not be ignored.
  2. Insights

    3 Characteristics of Caribbean Economies

    An overview of the common characteristics of Caribbean economies.
  3. Investing

    Is Royal Caribbean Too Expensive Now?

    Are Royal Carribean's valuation ratios out of control, or do fundamentals support the current market price?
  4. Investing

    Are Royal Caribbean Working Conditions Fair? (RCL)

    Recent details about work life onboard have been exposed, but it might be good exposure depending on whose looking at it.
  5. Investing

    3 Reasons To Own Royal Caribbean Cruise Lines

    Despite a global economy that is still sick, I'll look at three reasons Royal Caribbean is worth buying right now.
  6. Investing

    Royal Caribbean Customers are Mostly Happy (RCL, NCLH)

    As expected, positives and negatives, but there is a recurring theme.
  7. Insights

    5 Conglomerates with Exposure to the Caribbean

    These five well-diversified conglomerates play a major role in the economies of the Caribbean.
  8. Insights

    The Profits of Paradise: The Top 4 Economies of the Caribbean

    A look at some of the most dynamic economies in the Caribbean region.
  9. Retirement

    Retire in the Caribbean: Top Islands For Expats

    Palm trees, turquoise waters, white-sand beaches – but which Caribbean island is best for retirement? Here's what we learned.
  10. Insights

    Eastern Outfitters Joins Retailers Closing Stores

    Eastern Outfitters will close some Eastern Mountain Sports and Bob's Stores locations under a deal with Sports Direct.
RELATED FAQS
  1. How are international exchange rates set?

    International currency exchange rates display how much one unit of a currency can be exchanged for another currency. Currency ... Read Answer >>
  2. Is there a world currency? If so, what is it?

    There is no such thing as a world currency. However, since World War II, the dominant or reserve currency of the world has ... Read Answer >>
  3. Why is the U.S. dollar shown on the top of some currency pairs and on the bottom ...

    All currencies are traded in pairs. The first currency in the pair is called the base currency while the second is called ... Read Answer >>
  4. What do the terms weak dollar and strong dollar mean?

    The two terms, weak dollar and strong dollar, are generalizations used in the foreign exchange market to describe the relative ... Read Answer >>
  5. How can I trade in cross currency pairs if my forex account is denominated in U.S. ...

    The forex market allows individuals to trade on nearly all of the currencies in the world. However, most of the trading is ... Read Answer >>
Hot Definitions
  1. Dividend Yield

    A financial ratio that shows how much a company pays out in dividends each year relative to its share price.
  2. Fixed-Income Security

    An investment that provides a return in the form of fixed periodic payments and the eventual return of principal at maturity. ...
  3. Free Cash Flow - FCF

    A measure of financial performance calculated as operating cash flow minus capital expenditures. Free cash flow (FCF) represents ...
  4. Leverage Ratio

    Any ratio used to calculate the financial leverage of a company to get an idea of the company's methods of financing or to ...
  5. Two And Twenty

    A type of compensation structure that hedge fund managers typically employ in which part of compensation is performance based. ...
  6. Market Capitalization

    The total dollar market value of all of a company's outstanding shares. Market capitalization is calculated by multiplying ...
Trading Center