Trinidad and Tobago Dollar (TTD) 2025: Current Value, History & Forex Insights
Explore the Trinidad and Tobago dollar (TTD), its historical background, current economic role, and performance in global forex markets as of 2025.
Thomas J Catalano is a Certified Financial Planner and Registered Investment Adviser based in South Carolina. Since founding his financial advisory firm in 2018, Thomas has specialized in investments, retirement strategies, insurance, and comprehensive financial planning.
What Is the Trinidad and Tobago Dollar (TTD)?
The Trinidad and Tobago dollar (TTD) serves as the official currency of the twin-island Caribbean nation of Trinidad and Tobago. Similar to the US dollar, it is divided into 100 cents, facilitating everyday transactions.
To distinguish it from other dollar-denominated currencies like the US, Canadian, or Australian dollars, the TTD is commonly prefixed with "TT$".
Key Highlights
- TTD is the national currency of Trinidad and Tobago, adopted in its current form in 1964.
- Before the TTD, the islands used various currencies throughout their colonial history.
- Trinidad and Tobago’s economy heavily depends on its energy sector, contributing approximately 40% of its GDP.
Historical and Economic Context of the TTD
Trinidad was first colonized by Spain after Christopher Columbus’s 1498 voyage, while Tobago experienced rule by several European powers including Spain, Britain, France, and the Netherlands. Both islands became British colonies in 1802 and gained independence in 1962, later forming the Republic of Trinidad and Tobago in 1976.
The earliest currency used was the Spanish silver "pieces of eight" introduced in the 1500s. Throughout the 19th century, various currencies circulated, including British, Mexican, and Colombian money. The late 1800s saw a shift to British currency due to silver devaluation.
Post-World War II, Trinidad and Tobago briefly shared a regional currency with other Caribbean nations before establishing the modern TTD in 1964.
Economic growth has been modest over the last decade, with GDP averaging a 0.01% increase annually from 2009 to 2019. The country’s economy is predominantly driven by oil and natural gas exports, which form the backbone of its financial stability.
TTD’s Role in Forex Markets
Unlike many Caribbean currencies, the TTD floats freely against other currencies rather than being pegged. It features six banknotes in circulation: $1 (red), $5 (green), $10 (gray), $20 (purple), $50 (olive), and $100 (blue).
Over the past decade, the TTD has experienced a slight depreciation against the US dollar, moving from approximately 6.15 TTD per USD in 2009 to about 6.8 TTD per USD in 2020. Inflation has averaged near 6% during this period but has shown signs of easing in recent years.
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