Currencies/Caribbean cent
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Introduction
The Caribbean cent is the fractional monetary unit used in several Caribbean dollar-based currencies, most notably the Eastern Caribbean dollar (XCD). It represents 1/100 of a dollar and serves as the standard subunit across multiple island nations in the Eastern Caribbean region.
History
The cent originated as part of the British West Indies dollar (BWI$) system, introduced during the colonial period in the mid-20th century. When the Eastern Caribbean Currency Authority (ECCA) was established in 1965, the Eastern Caribbean dollar replaced the British West Indies dollar at par, retaining the cent as its fractional denomination.
Initially, coins from the British colonial era continued in circulation until new designs were introduced under the East Caribbean States series in the early 1980s. These reflected the collective economic identity of the Organisation of Eastern Caribbean States (OECS).
The cent has since remained part of the Eastern Caribbean dollar system used by Anguilla, Antigua and Barbuda, Dominica, Grenada, Saint Kitts and Nevis, Saint Lucia, and Saint Vincent and the Grenadines.
Coins
The Caribbean cent coins have evolved in composition and design to reflect regional identity and practical needs.
Early Issues (1965–1980)
Coins were first struck in denominations of 1, 2, 5, 10, and 25 cents, featuring the portrait of Queen Elizabeth II on the obverse and distinctive regional motifs on the reverse. These were minted in bronze and nickel.
Later Issues (1982–2015)
A unified coinage for the East Caribbean States was introduced in 1982, modernizing the designs and inscriptions.
1 cent – Aluminium
2 and 5 cents – Bronze
10 and 25 cents – Nickel-plated steel
In 2015, the 1- and 2-cent coins were withdrawn from circulation due to declining purchasing power and high minting costs. Prices in cash transactions are now rounded to the nearest 5 cents, though all lower denominations remain legal tender.
The 25-cent coin continues to circulate widely and functions as the principal small-denomination coin across the Eastern Caribbean region.
Currency
1 dollar = 100 cents
Therefore, 1 cent = 1/100 of a dollar.
Although smaller cent denominations have been discontinued in daily circulation, the cent remains an official unit of account within the Eastern Caribbean dollar system, used for pricing, accounting, and digital transactions.
Legacy
The Caribbean cent stands as a symbol of regional economic unity among the Eastern Caribbean nations. While low-value coins are gradually disappearing from circulation, the cent remains an integral element of the Eastern Caribbean monetary identity.
Its continued use in pricing and accounting ensures the cent’s historical and functional role within the Caribbean’s shared financial heritage.