The Trinidad and Tobago dollar (currency code TTD) is the currency of Trinidad and Tobago. It is normally abbreviated with the dollar sign $, or alternatively TT$ to distinguish it from other dollar-denominated currencies. It is subdivided into 100 cents. Cents are abbreviated with the cent sign ¢, or TT¢ to distinguish from other currencies that use cents. Its predecessor currencies are the Trinidadian dollar and the Tobagonian dollar.
TTD Coins
In 1966, coins were introduced in denominations of 1¢, 5¢, 10¢, 25¢ & 50¢. A large sized $1 coin was first released for circulation in 1969 and again in 1979 before being replaced with a smaller sized version in 1995 more regularly minted. The 5¢ is struck in bronze, with the other denominations in cupro-nickel. The obverses all feature Trinidad and Tobago’s coat of arms, with the reverse designs solely featuring the denomination until 1976, when they were replaced by either a national bird or flower in addition to the denomination after the declaration of a republic. The 50¢ & $1 coins are scarcely seen in circulation, but can be purchased from banks if requested.
There are also coins minted in $5, $10, $100 and $200 denominations as well. These coins are not in circulation, and can only be obtained from the Central Bank of Trinidad and Tobago, either as part of a special ‘eight-coin proof set’ collection (in the case of the $5 and $10 coins) or individually (in the case of the $100 and $200 coins.) Notably, the $5 and $10 coins are minted in sterling silver, whereas the $100 and $200 are minted in gold. The price of the gold coins fluctuate depending on the current state of the market for gold.
In 2014 the government stopped minting the 1¢ coin. On 3 July 2018 cash rounding was implemented as 1¢ coins ceased being legal tender for cash payments, but the Central Bank will redeem them indefinitely in multiples of 5¢.
TTD Banknotes
In the nineteenth century, the British gold sovereign was valued at four Spanish silver dollars and eighty cents. When the sterling coinage was finally accepted as the main circulating coinage in the British West Indies, the Eastern Caribbean colonies continued nevertheless to use the dollar unit for accounting purposes. The West Indian dollar was therefore equivalent to four shillings and two pence.
This Royal Bank of Canada note reflects this state of affairs with its overt mention of the fact that one hundred dollars is equal to twenty pounds, sixteen shillings, and eight pence sterling. This state of affairs was exclusively confined to the Eastern Caribbean region, possibly due to the geographical proximity to British Guiana. British Guiana had a reason to wish to retain the dollar unit owing to its recent changeover from Dutch currency. These factors did not affect Jamaica, Bermuda, or the Bahamas which adopted the sterling currency in both coinage and as the unit of account.
In 1898, the Colonial Bank introduced $20 notes. These were followed in 1901 by $5. $100 notes were also issued. The last notes were issued in 1926, after which the Colonial Bank was taken over by Barclays Bank, which issued $5, $20 & $100 notes until 1941. In 1905, notes were introduced by the government in denominations of $1 & $2, followed by $5 in 1935, followed by $10 & $20 in 1942.
The Royal Bank of Canada introduced $5, $20 & $100 notes in 1909. From 1920, the notes also bore the denomination in sterling. 100-dollar notes were not issued after 1920, whilst the $5 and $20 were issued until 1938. The Canadian Bank of Commerce introduced $5, $20 & $100 notes in 1921, with the $5 & $20 notes issued until 1939. The Royal Bank of Canada one hundred dollar note, shown here; is a relic of a monetary system, in which the unit of account was related to the circulating coinage on the basis of two historical coins which were no longer in use.
On 14 December 1964, the Central Bank of Trinidad and Tobago introduced notes for $1, $5, $10 & $20. New denominations in the form of $50 & $100 notes were issued on 6 June 1977, although the $50 note was not continued after a shipment was stolen prior to issue. The $50 note was taken out of its brief circulation. The reverses of the current notes feature the Central Bank Building of Trinidad & Tobago. The obverses have the coat of arms in the center, a national bird and a place in Trinidad, such as a market, petroleum refinery, etc. In 2002, new $1 & $20 notes were introduced. In 2003, new $1, $5, $10 & $100 were also introduced. The notes were only slightly changed; they now have more security features & darker colour. Recently, more security features have been added to the notes by the Central Bank of Trinidad and Tobago. In 2012 the $50 note was reintroduced to commemorate Trinidad and Tobago’s Golden Jubilee of Independence. On the front of the note is a Red-capped cardinal bird and the commemorative text around the center of the coat of arms. Two versions of this denomination were released, one without the commemorative text around the centre of the coat of arms (general circulation) and one with the commemorative text.
On 9 December 2019 polymer $100 notes were distributed to banks. The government announced that the current $100 notes would be demonetized after 31 December 2019.
On 21 February 2020, the central bank announced plans to change all of its paper based notes to polymer based notes.
On 27 October 2020, the central bank introduced polymer versions of the $5, $10 and $20 notes. These notes were distributed to commercial banks on 2 November 2020. They also announced that the polymer notes of the $1 and $50 would be introduced in January 2021.
On 15 February 2021, the central bank introduced a polymer version of the $1 and a redesigned polymer $50 note. The paper based notes were discontinued on January 1, 2022.
All banknotes have the coat of arms of Trinidad and Tobago on the obverse and an image of the central bank on the reverse.
Banknotes in circulation are
$1 (red)
$5 (green)
$10 (grey)
$20 (purple)
$50 (gold)
$100 (blue)