Complete Financial Report of Montserrat

Basic Information

• Country ISO Code: MS

• Official Language: English

• Language ISO Code: en

• Current Official Currency: East Caribbean Dollar

• Currency ISO Code: XCD

Monetary History of Montserrat

Current Official Currency: East Caribbean Dollar (XCD)

• ISO Code: XCD

• Currency Symbol: $ or EC$ (to distinguish from other dollar currencies)

• Singular Name: dollar

• Plural Name: dollars

• Subdivision: 1 dollar = 100 cents

• Fraction Name (singular): cent

• Fraction Name (plural): cents

• Date of Introduction: 1965 (East Caribbean dollar introduced to replace various local currencies)

• Issuing Authority: Eastern Caribbean Central Bank (ECCB)

• Mint: Coins and banknotes are produced by various international mints and printers; coins feature regional designs.

• Coin Denominations: Common coins include 1, 2, 5, 10, 25, and 50 cents; 1 dollar coin is also issued.

• Banknote Denominations: 5, 10, 20, 50, 100 dollars.

• Status: Actively circulating currency

Economic and Monetary Context

• Montserrat is a British Overseas Territory in the Caribbean and uses the East Caribbean dollar, which is the common currency of eight members of the Eastern Caribbean Currency Union.

• The East Caribbean dollar is pegged to the US dollar at a fixed rate of 2.70 XCD = 1 USD, providing monetary stability.

• The Eastern Caribbean Central Bank (ECCB), headquartered in Saint Kitts, manages monetary policy and currency issuance for Montserrat and other member states.

• The currency facilitates trade and economic integration among the member states of the Eastern Caribbean Currency Union.

• Montserrat’s economy is small and heavily reliant on aid and tourism, and the stable currency helps maintain economic confidence.

Summary Table

This report is prepared in English, the official language of Montserrat, based on the latest available financial and historical data about the East Caribbean dollar.