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East Caribbean States / 8 Products

The Organization of Eastern Caribbean States is an inter-governmental organization dedicated to economic harmonization and integration, protection of human and legal rights, and encouragement of good governance between countries and territories in Eastern Caribbean.

The OECS operates an economic union within the larger CARICOM (Caribbean Community and Common Market) economic union. Eight members in OECS operate as a currency union—the Eastern Caribbean Currency Union. 

The Eastern Caribbean Currency Union (ECCU) is composed of Anguilla, Antigua and Barbuda, Dominica, Grenada, Monserrat, St. Kitts and Nevis, St. Lucia, and St. Vincent and the Grenadines. The members of the ECCU use a common currency—the Eastern Caribbean dollar—under the supervision of the Eastern Caribbean Central Bank. The Eastern Caribbean dollar is pegged to the US dollar at a rate of EC$ 2.70 to US$ 1. 

The Eastern Caribbean dollar was the successor of the British West Indies dollar. It is subdivided into 100 cents. 

The British West Indies dollar coins circulated East Caribbean States until 1981. In 1982, the first series of East Caribbean dollar coins were introduced. The coins came in the following denominations: 1 cent, 2 cents, 5 cents, 10 cents, 25 cents, and 1 dollar. The 1- and 5-cent coins were scalloped while the 2-cent coin was square. They were struck in aluminum. 

The 10- and 25-cent coins were made of cupro-nickel and round in shape. Meanwhile, the round 1-dollar coin was made of aluminum-bronze. In 1989, the round dollar coin was replaced with a decagonal coin made of cupronickel. 

In 2002, a new series of coins were introduced. The 1-, 2-, and 5-cent coins became larger and round shaped. The portrait of Queen Elizabeth II was also replaced, from the Arnold Machin portrait to the Ian Rank-Broadley portrait. Higher denominations exist as commemorative and medal coins. 

In 2015, the 1- and 2-cent coins were withdrawn from circulation. They remained legal tender until 30 June 2020.

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