East Caribbean dollar (currency symbol xcd) is the currency used by eight of the nine member states of the Organization of Eastern Caribbean States. It has existed since 1965, and is abbreviated usually with the dollar sign $ or instead of This is EC $ in order to distinguish it from other currencies called dollars.
The exchange rate is 2.7EC $ = 1 USD. As a result of its low exchange rate and formal similarities, some swindlers in Canada used the 25-cent coin instead of a quarter of a dollar.
Countries using East Caribbean dollars
Six of the countries that use the East Caribbean dollar are independent: Antigua and Barbuda , Dominica , Grenada , Saint Kitts and Nevis, Saint Lucia and Saint Vincent and the Grenadines . The two sisters are British Overseas Territories: Anguilla and Montserrat. The only member of the Organization of Eastern Caribbean States that does not use the Eastern Caribbean dollar as the official currency is the British Virgin Islands, which instead uses the US dollar. The total population of the countries using the Eastern Caribbean dollar is approximately 600,000 (2006 census) showing the image of Queen Elizabeth II on banknotes and coins: she is considered the head of state in all states and territories that use the Eastern Caribbean dollar, except Dominica .