East Caribbean Dollar

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East Caribbean Dollar

The currency for all members and associate members of the Organisation of Eastern Caribbean States except for the British Virgin Islands. It traces its origins to the Spanish dollar, the world's leading currency in the 18th century, but it was first issued in 1965, replacing the British West Indian dollar at par.

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Six countries outside the Eurozone use the euro, nine countries the US dollar and seven countries share the East Caribbean Dollar. The 19 countries using the euro by definition do not have a domestic currency and ultimately rely on a "foreign" bank (ECB) as lender of last resort.

Should a go-it-alone Wales develop its own currency? In a follow-up to last week's look at Welsh independence Dr John Ball takes a look at the currency options for a new independent nation

Despite sterling being worth between 7.3% and 8.6% less than Caribbean currencies compared to last year, the Post Office has seen a surge of sales for the most popular islands - up by a third year-on-year for the East Caribbean dollar used in St Lucia and Antigua.

PLANNING TO TRAVEL LONG HAUL?

Despite sterling being worth between 7.3% and 8.6% less than Caribbean currencies compared to last year, the PO has seen a surge of sales for the most popular islands - up by a third year-on-year for the East Caribbean dollar used in St Lucia and Antigua.

MAKE YOUR HOLIDAY MONEY GO FURTHER; TRICIA PHILLIPS reveals a useful guide to leaving the UK this summer for the most popular destinations for Brits

CURRENCY Antigua's currency is the East Caribbean dollar but US dollars are accepted just as readily.

TRAVEL FILE

THE local currency is the East Caribbean dollar (EC$) while the US dollar is also legal tender.

Travel: LIFE'S A BEACH..; There's one for every day of the year in laid-back Antigua

John's Government: Parliamentary Democracy Size: 170 square miles (2.5 times the size of Washington, D.C.) Language: English Ethnic Division: African Religion: Anglican Tourist Season: December through April Peak Tourist Season: December through March Currency: East Caribbean dollar Population: 66,970 (2001)

Chapter 4 Geography and tourism in Mexico, Central America, and the Caribbean

l Currency: East Caribbean dollar (3.5 EC to the pound).

A PLUNGE IN PARADISE; ROBERT MELVIN made quite a splash during a break on the Caribbean island of St Lucia

For instance, many Caribbean islands, such as Saint Lucia and Dominica, use the East Caribbean dollar. Likewise, some African nations, including Chad and Niger, use the Communaute Financiere Africaine franc.

THIS WEEK

A 13.5% surge in sterling against the East Caribbean dollar will give travellers almost PS60 extra per PS500.

Splash out in sea, not on your plastic; Best hotspots to cash in on stronger pound

TOP TIP.The official currency is the East Caribbean Dollar but most places accept the higher value US dollar too and quote prices in either currency.

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As for the UN not having a common currency, many countries in the world use the US dollar and, in any case, there are already singlecurrencies in existence such as the East Caribbean Dollar and the CFA Franc in Africa, but these have not led to single, federal states.

Nothing to worry about

ANTIGUA Carlisle Bay Carlisle Bay Shirley Heights Shirley Heights Time zone: GMT -4hrs Currency: East Caribbean Dollar pounds 1 = 4.37 Best time to go: Party starts next month GET THERE British Airways and Virgin Atlantic both fly direct from Gatwick to Antigua.