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The dollar is the currency of Trinidad and Tobago, which is subdivided into 100 cents. Its predecessor currencies are the Trinidadian dollar and the Tobagan dollar.The history of currency in the former British colony of Trinidad and Tobago closely follows that of the British Eastern Caribbean territories overall. Even though Queen Anne's proclamation of 1704 brought the gold standard to the West Indies, Spanish dollars continued to form a major portion of the circulating currency.
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. Government offices kept their accounts in British pounds, shillings, and pence until the year 1935 when Trinidad and Tobago went decimal.
In 1964, Trinidad and Tobago introduced its own dollar. Between 1964 and 1968 the Trinidad and Tobago dollar was utilized in Grenada as legal tender until that country rejoined the common currency arrangements of the East Caribbean dollar. After VAT was introduced in 1989, the dollar was switched from a fixed rate to a managed float regime in 1993.
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