From Wikipedia, the free encyclopedia
| Guyanese dollar |
 |
| Guyana $10 |
|
| ISO 4217 Code |
GYD |
| User(s) |
Guyana |
| Inflation |
6% |
| Source |
The World Factbook, 2006 est. |
| Subunit |
|
| 1/100 |
cent |
| Symbol |
$ |
| Coins |
1, 5, 10, 25, 50 cents, 1, 5, 10 dollars |
| Banknotes |
1, 5, 10, 20, 100, 500, 1000 dollars |
| Central bank |
Bank of Guyana |
| Website |
www.bankofguyana.org.gy |
The dollar (currency code GYD) has been the currency of Guyana (formerly British Guiana) since 1839. It is normally abbreviated with the dollar sign $, or alternatively GY$ to distinguish it from other dollar-denominated currencies. Since 1955 it has been divided into 100 cents although cent coins are no longer used due to inflation.
[edit] History
The dollar was introduced in 1839. It was equivalent to 4 shillings 2 pence sterling and replaced the guilder at a rate of 1 dollar = 3⅛ guilder. In addition to paper money denominated in dollars and regular British coins, 2 and 4 pence coins were issued in Guyana (and elsewhere in the British West Indies). The 2 pence coins issued in 1838, 1843 and 1848 were of the standard maundy money type, whilst the 4 pence coins bore an image of Britannia. Between 1891 and 1916, 4 pence coins were issued specifically for "British Guiana and West Indies" and between 1917 and 1945 for "British Guiana". 1916 also saw the first issue of paper money by the Government of British Guiana, in denominations of 1, 2, 5, 20 and 100 dollars.
From 1935, the British Guianan dollar was equivalent to the British West Indies dollar (BWI$). Paper money production specifically for British Guiana ceased in 1942 and local notes were replaced by BWI$ notes in 1951. In 1955, the BWI$ was decimalized and coinage was issued in the name of the "British Caribbean Territories, Eastern Group". In 1965, the East Caribbean dollar (EC$) replaced the BWI$ and circulated in British Guiana for a year until, following independence in 1966, the Guyanese dollar was introduced, replacing the East Caribbean dollar at par.
Coins were initially issued in denominations of 1, 5, 10, 25 and 50 cents. In 1996, high inflation caused the introduction of 1, 5 and 10 dollars coins.
[edit] Banknotes
Banknotes were issued in 1966 in denominations of 1, 5, 10, 20, 100, 500 and 1000 dollars. A second series issued between 1989 and 1996 consisted of 20, 100 and 500 dollar denominations. The 1999-2000 series included 500 and 1000 dollar notes. New banknotes of 100 and 1000 dollars were issued in 2005 [1] with increased security features.
Current GYD exchange rates
[edit] References
- ^ Nachthund. Update - Guyana. Retrieved on 2006-07-31.
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