Instruct: Given a question, retrieve documents that answer the question.
Query: What is the currency in Trinidad and Tobago?
The 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. Its predecessor currencies are the Trinidadian dollar and the Tobagan dollar.
In 2018, trade between Mexico and Trinidad and Tobago totaled $420 million USD. Mexico's main exports to Trinidad and Tobago include: refrigerators; dolomite; malt extract; tubes and hollow profiles; and chemical based products. Trinidad and Tobago main exports to Mexico include: petroleum gas; ammonia and chemical based products. Mexican multinational company Cemex invests and operates in Trinidad and Tobago.
Trinidad and Tobago became an independent monarchy on 31 August 1962. In 1974, a constitutional reform commission led by Chief Justice of Trinidad and Tobago Hugh Wooding recommended that the country become a republic, in line with almost universal national opinion. A new constitution was adopted on 1 August 1976, when Trinidad and Tobago became a republic within the Commonwealth with the President of Trinidad and Tobago as head of state.
Mexico and Trinidad and Tobago are two American nations with an early common history. Initially, both nations had been under control of the Spanish Empire. By 1802, Trinidad and Tobago became part of the British Empire. In 1962, Trinidad and Tobago became an independent nation. On 30 April 1966, Mexico and Trinidad and Tobago established diplomatic relations. In 1982, Mexico opened a resident embassy in Port of Spain, however, in 1985 Mexico closed the embassy due to financial difficulties. The Mexican embassy was re-opened in 1995.
As a member of CARICOM, Trinidad and Tobago strongly backed efforts by the United States to bring political stability to Haiti, contributing personnel to the Multinational Force in 1994. After its 1962 independence, Trinidad and Tobago joined the United Nations and Commonwealth of Nations. In 1967, it became the first Commonwealth country to join the Organization of American States (OAS). In 1995, Trinidad played host to the inaugural meeting of the Association of Caribbean States and has become the seat of this 35-member grouping, which seeks to further economic progress and integration among its states.
472 species of birds have been recorded in Trinidad and Tobago (and the list of recorded species seems be still slowly increasing from year to year). There are few places in the world where so many birds can be seen in such a small area (with probably one of the highest bird species to area ratios of any country). Many of the species are very rare or are of particular interest. They range from the many species of hummingbirds to the primitive cave-dwelling oilbird (that uses sonar to fly in the dark) to the spectacularly beautiful scarlet ibis. The islands are within a few miles of Venezuela, and the species are therefore typical of tropical South America. However, the variety (although quite exceptional for such a small geographic area) is somewhat impoverished compared to the mainland, as would be expected with small islands.
When British rule ended in 1962, the Trinidad and Tobago Independence Act 1962 transformed the British Crown Colony of Trinidad and Tobago into an independent sovereign state, sharing its sovereign, Elizabeth II, the Queen of Trinidad and Tobago, with the other states headed by Queen Elizabeth II. The monarch's constitutional roles were mostly delegated to the Governor-General of Trinidad and Tobago.
The dinar (, , ISO 4217 currency code: "TND") is the currency of Tunisia. It is subdivided into 1000 milim or millimes (). The abbreviation "DT" is often used in Tunisia, although writing "dinar" after the amount is also acceptable (TND is less colloquial, and tends to be used more in financial circles); the abbreviation "TD" is also mentioned in a few places, but is less frequently used, given the common use of the French language in Tunisia, and the French derivation of "DT" (i.e., "").
Trinidad and Tobago gained its independence from the United Kingdom on 31 August 1962. Elizabeth II remained head of state as Queen of Trinidad and Tobago. Eric Williams, a noted Caribbean historian, widely regarded as "The Father of The Nation", was the first Prime Minister; he served from 1956 to 1959, before independence as Chief Minister, from 1959 to 1962, before independence as Premier, from 1962 to 1976, after independence as Prime Minister of Trinidad and Tobago, then from 1976 to his death in 1981 as Prime Minister of the Republic of Trinidad and Tobago. Rudranath Capildeo was the first Leader of the Opposition of Trinidad and Tobago post-independence; he served from 1962 to 1967. Solomon Hochoy was the first Governor-General and he served from 1962 to 1972.
In 1972 the economist James Tobin proposed a tax on all spot conversions of one currency into another. The so-called Tobin tax is intended to put a penalty on short-term financial round-trip excursions into another currency. Tobin suggested his currency transaction tax in 1972 in his Janeway Lectures at Princeton, shortly after the Bretton Woods system effectively ended. In 2001, James Tobin looked back at the 1994 Mexican peso crisis, the 1997 Asian financial crisis, and the 1998 Russian financial crisis, and said: "[My proposed] tax [idea] on foreign exchange transactions... dissuades speculators as many investors invest their money in foreign exchange on a very short-term basis. If this money is suddenly withdrawn, countries have to drastically increase interest rates for their currency to still be attractive. But high interest is often disastrous for a national economy, as the nineties' crises in Mexico, South East Asia and Russia have proven..."
On Friday August 24, 1962, Trinidad and Tobago Television was launched one week before the two-island state of Trinidad and Tobago became an independent nation on 31st August 1962 within the British Commonwealth. Mervyn Telfer, a former Radio Trinidad announcer, read the first broadcast, the 7PM News. The two channels to transmit the service to the new twin island state were channels 2 and 13. News shown during that first week included highlights of Independence Day preparations.
New Taiwan dollar (; code: TWD; symbol: NT$, also abbreviated as NT) is the official currency of the Republic of China (ROC) used in Taiwan Area. Formally, one dollar () is divided into ten dimes (), and to 100 cents (), although cents are never used in practice. The New Taiwan dollars has been the currency of Taiwan since 1949, when it replaced the Old Taiwan dollar, at a rate of 40,000 old dollars per one new dollar. There are a variety of alternative names to the units in Taiwan. The unit of dollar is usually written in simpler form as . Colloquially, the currency unit usually called (kuài, literally "piece") in Mandarin, (kho͘, literally "hoop") in Taiwanese Hokkien, and (ngiùn, literally "silver") in Hakka.
Tobin suggested his currency transaction tax in 1972 in his Janeway Lectures at Princeton, shortly after the Bretton Woods system of monetary management ended in 1971. Prior to 1971, one of the chief features of the Bretton Woods system was an obligation for each country to adopt a monetary policy that maintained the exchange rate of its currency within a fixed value—plus or minus one percent—in terms of gold. Then, on August 15, 1971, United States President Richard Nixon announced that the United States dollar would no longer be convertible to gold, effectively ending the system. This action created the situation whereby the U.S. dollar became the sole backing of currencies and a reserve currency for the member states of the Bretton Woods system, leading the system to collapse in the face of increasing financial strain in that same year. In that context, Tobin suggested a new system for international currency stability, and proposed that such a system include an international charge on foreign-exchange transactions.
In some countries, such as Costa Rica and Honduras, the U.S. dollar is commonly accepted, although not officially regarded as legal tender. In Mexico's northern border area and major tourist zones, it is accepted as if it were a second legal currency. Many Canadian merchants close to the border, as well as large stores in big cities and major tourist hotspots in Peru also accept U.S. dollars, though usually at a value that favours the merchant. In Cambodia, U.S. notes circulate freely and are preferred over the Cambodian riel for large purchases, with the riel used for change to break 1 USD. After the U.S. liberation of Afghanistan, U.S. dollars are accepted as if it were legal tender.
The Tunisian government adopted a unified investment code in 1993 to attract foreign capital. More than 1,600 export-oriented joint venture firms operate in Tunisia to take advantage of relatively low labor costs and preferential access to nearby European markets. Economic links are closest with European countries, which dominate Tunisia's trade. Tunisia's currency, the dinar, is not traded outside Tunisia. However, partial convertibility exists for bona fide commercial and investment transaction. Certain restrictions still limit operations carried out by Tunisian residents.
Trinidad and Tobago's participation in these Olympic games marked its sixteenth appearance as an independent nation since 1964, although it had previously competed in four Olympic games under two different colonies; one as a British colony in 1948, when the nation marked its debut in the same host city for these games, and the other as part of the West Indies Federation, together with Jamaica and Barbados.
Outside the eurozone, a total of 22 countries and territories that do not belong to the EU have currencies that are directly pegged to the euro including 14 countries in mainland Africa (CFA franc), two African island countries (Comorian franc and Cape Verdean escudo), three French Pacific territories (CFP franc) and three Balkan countries, Bosnia and Herzegovina (Bosnia and Herzegovina convertible mark), Bulgaria (Bulgarian lev) and Macedonia (Macedonian denar). On 28 July 2009, São Tomé and Príncipe signed an agreement with Portugal which will eventually tie its currency to the euro. Additionally, the Moroccan dirham is tied to a basket of currencies, including the euro and the US dollar, with the euro given the highest weighting.
After independence in 1962, the team changed its name to reflect the official name of the country, Trinidad and Tobago, and when the Shell Shield began in 1965–66 the team competed under the name of Trinidad and Tobago. They won their first title on their fourth outing, in 1969–70, and also won the next year's competition, but since then Trinidad and Tobago have only taken three titles in 35 seasons. During this time cricketers from Trinidad competed in the Beaumont Cup which had first class status.
The official currency of Taiwan is the New Taiwan dollar (TWD). The motifs used are:
The Netherlands Antillean guilder will continue to circulate and plans to implement the Caribbean guilder will not be finalized until the islands' Central Bank situation is resolved. The new currency will be abbreviated CMg (for Curacao, Sint Maarten guilder) and would be pegged to the United States dollar at the same exchange rate as the Netherlands Antillean guilder (1 USD = 1.79 NAg = 1.79 CMg). As the BES islands (Bonaire, Sint Eustatius and Saba) adopted the U.S. dollar directly on 1 January 2011, the introduction of the CMg would mean the end of the circulation of the Netherlands Antillean guilder.
However, in response to stricter economic sanctions by the US and because the authorities were pleased with Cuba's economic recovery, the Cuban government decided in October 2004 to remove US dollars from circulation. In its place, the convertible peso was created, which although not internationally traded, has a value pegged to the US dollar 1:1. A 10% surcharge is levied for cash conversions from US dollars to the convertible peso, which does not apply to other currencies, so it acts as an encouragement for tourists to bring currencies such as Euros, pounds sterling or Canadian dollars into Cuba. An increasing number of tourist zones accept Euros.
The international silver crisis of 1873 signalled the end of the silver dollar era in the West Indies and silver dollars were demonetized in Tobago in 1879 and in Trinidad at around the same period. This left a state of affairs, in which the British coinage circulated, being reckoned in the private sector using dollar accounts at an automatic conversion rate of 1 dollar = 4 shillings 2 pence. Local banks also issued their own dollars, however, denominated in dollars. Government offices kept their accounts in British pounds, shillings, and pence until the year 1935 when Trinidad and Tobago went decimal. The Currency Interpretaion Ordinance of 1934 replaced the system of pounds, shillings and pence with the dollar, retaining the fixed exchange rate of 1 dollar for every 4 shillings 2 pence.
The first revenue issue for both islands was issued in 1908. It consisted of British embossed revenues overprinted TRINIDAD & TOBAGO in three lines. Similar issues continued to be issued until 1925, when new issues with the overprint in two lines were produced. In 1935 new designs in decimal currency were issued, this time not overprinted on British revenues but directly inscribed TRINIDAD AND TOBAGO. Later that year three stamps similar to postage issues but inscribed REVENUE were also issued. In 1964, some embossed revenues from the 1935 issue were overprinted with new values.
The abolition of slavery in the West Indies was the catalyst which led to the establishing of the first bank. The Colonial Bank was established on 1 June 1836, and opened its first branch in Trinidad in 1837 under the management of Anthony Cumming. Its initial mandate was to use Spanish and Mexican dollars as its official currency, and it was required to make all payments in those currencies, but incoming payments could be made in any currency, and the bank often found that it was short of dollars. The bank therefore lobbied the government, seeking permission to issue money in other currencies. This resulted in an imperial order-in-council in 1838, in which Trinidad and Tobago formally adopted the sterling currency, although the Spanish, Mexican and Colombian currencies were also declared legal tender.
The history of currency in the former British colony of Trinidad and Tobago closely follows that of the British Eastern Caribbean territories in general. The first currency used was the Spanish dollar, also known as "pieces of eight", which began circulating in the 16th century. Proposals for establishing banks in the West Indies, targeted at landowners, were made in 1661 by the British government, and in 1690 by Sir Thomas Dalby. Despite this, and Queen Anne's proclamation of 1704 brought the gold standard to the West Indies, silver pieces of eight (Spanish dollars and later Mexican dollars) continued to form a major portion of the circulating currency right into the latter half of the nineteenth century.