Following the withdrawal of Trinidad and Tobago and British Guyana from the BCCB, the East Caribbean Currency Authority (ECCA) was established in 1965 as the authority to issue and manage a common currency for Barbados, and the Leeward and Windward islands.
- The first EC currency was issued on October 6th, 1965.
- From October 1965 to July 7, 1976 the EC Currency was pegged to the pound sterling at a rate of EC$4.80 to £1.00.
- Since July 7, 1976, 34 years ago, the EC Dollar has been pegged to the US dollar at a parity of EC$2.70 to US$1.00.
- That the Eastern Caribbean Central Bank (ECCB) was established in October 1983 as a fully-fledged Central Bank. Headquartered in St. Kitts, the ECCB is the Monetary Authority for a group of eight island economies namely – Anguilla, Antigua and Barbuda, Commonwealth of Dominica, Grenada, Montserrat, St. Kitts and Nevis, St. Lucia and St. Vincent and the Grenadines.
So, now you know!
Your Money, Your Future!
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