Guyanese dollar
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$, G$, GY$[1] | |||||
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| Denominations | |||||
| Subunit | |||||
| 1⁄100 | cent | ||||
| Banknotes | $20, $50, $100, $500, $1000, $2000, $5000 | ||||
| Coins | $1, $5, $10 | ||||
| Demographics | |||||
| User(s) |  Guyana | ||||
| Issuance | |||||
| Central bank | Bank of Guyana | ||||
| Website | www | ||||
| Valuation | |||||
| Inflation | 5.8% | ||||
| Source | [1], 2022 | ||||
The Guyanese dollar (
History
The history of the Guyanese dollar should not be considered in isolation of the wider picture surrounding the history of currency in the
accounts until the year 1951.The Dutch territories of
A particular feature of the circulation of British silver coins in British Guiana was the popularity of the 4d (four pence) coin, known as the groat. This was a direct consequence of its equivalence to the very popular outgoing 'bit' coin which was equal to one quarter of a guilder. When the groat coin ceased to circulate in the United Kingdom in the latter half of the nineteenth century, a special request was made in 1888 for groats to be struck for use in the British West Indies and British Guiana. These were first struck in 1891. From 1917 they were struck exclusively for use in British Guiana.
Spanish, Mexican, and Colombian silver dollars continued to circulate alongside the British sterling coinage until 1876 when these dollar coins were demonetised.
The Spanish dollar unit should not be confused with the American dollar unit. The American dollar unit was first introduced in the US in the year 1792, based on the average weight of a selection of worn Spanish dollars. As such, the American dollar was marginally less valuable than the Spanish dollar.
Coins
After the introduction of the dollar, regular British coins circulated, together with 2 and 4 pence coins also issued elsewhere in the
In 1967, coins were introduced in denominations of 1, 5, 10, 25 and 50 cents. The 1 and 5 cents were struck in
In August, 2020, the $100 coin was launched. The coin is the first coloured coin issued by the Bank of Guyana.
Banknotes
Private banknotes were introduced in the late 19th century by the British Guiana Bank and the Colonial Bank. Both issued 5, 20 and 100 dollars. The British Guiana Bank issued notes until 1907, with the Colonial Bank issuing notes until 1917. The Colonial Bank was taken over by
In 1909, the Royal Bank of Canada introduced 100 dollars notes, followed in 1913 by 5 and 20 dollars notes. From 1920, the notes also bore the denomination in sterling. 100 dollars were issued until 1920, with the 5 and 20 dollars issued until 1938.
Paper money production specifically for British Guiana ceased in 1942 and local notes were replaced by BWI$ 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
Banknotes were introduced on 15 November 1965 in denominations of 1, 5, 10, and 20 dollars. However, there have not been any plans for a circulating non-commemorative 10,000-dollar note for Guyana as of yet. In February 2022, the Bank of Guyana unveiled the 2,000 dollar note.
Commemorative banknotes
- N.D. (2016) 50 Dollars - 50 Years of Independence.
- N.D. (2021) 2,000 Dollars - 55 Years of Independence - being released in late February 2022.[6] This will be the first polymer banknote for Guyana.
| Current GYD exchange rates | |
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| From Google Finance: | AUD CAD CHF CNY EUR GBP HKD JPY USD JPY USD |
| From Yahoo! Finance: | AUD CAD CHF CNY EUR GBP HKD JPY USD JPY USD |
| From XE.com: | AUD CAD CHF CNY EUR GBP HKD JPY USD JPY USD |
| From OANDA: | AUD CAD CHF CNY EUR GBP HKD JPY USD JPY USD |
See also
References
- ^ Bank of Guyana. Accessed 2011-02-25.
- ^ Linzmayer, Owen (2012). "Guyana". The Banknote Book. San Francisco, CA: www.BanknoteNews.com.
- ^ Guyana new 500- and 1,000-dollar notes confirmed BanknoteNews.com. Retrieved 2011-01-04.
- ^ Guyana new 5,000-dollar note confirmed BanknoteNews.com. November 16, 2013. Retrieved on 2013-11-21.
- ^ The Security Features of the Bank of Guyana's 5,000 dollar note
- ^ Efron, Arnoldo (2022-01-29). "Guyana - New polymer commemorative banknote". MRI Guide. Retrieved 2022-12-18.
- Krause, Chester L.; Clifford Mishler (1991). ISBN 0873411501.
- Pick, Albert (1990). ISBN 0-87341-149-8.
External links
- 20 Guyanese Dollars banknote
- Coins of Guyana Archived 2015-02-11 at the Wayback Machine
Currency: Guyanese dollar | |
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