East Caribbean dollar

Grenada – East Caribbean dollar

Granada is an island country with an area of 344 square kilometers and population of 110 000 people. The islands were discovered by Columbus in 1498. 

It is included in the organization of East Caribbean States together with Saint Vincent and Grenadines, Saint Lucia, Saint Kitts and Nevis, Montserrat, Dominica, Anguilla, Antigua and Barbuda.

The currency has existed since 1965 and is subdivided into 100 cents.

East Caribbean Dollar has been pegged to the United States Dollar since 1976 and the exchange rate is currently at US$1 = EC$2.70.

Since 1981 in circulation are coins with the present denominations of: 1, 2, 5, 10, 25 cents and one dollar.

Banknotes in circulation are in denominations of 5, 10, 20, 50 and 100 dollars.

East Caribbean dollar is used approximately from 600-thousand populations.