Catalog
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| Issuer | Eastern Caribbean Central Bank |
|---|---|
| Year | 2003 |
| Type | Log in to see details |
| Value | Log in to see details |
| Currency | Log in to see details |
| Composition | Log in to see details |
| Weight | Log in to see details |
| Diameter | Log in to see details |
| Thickness | 3.2 mm |
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| Technique | Log in to see details |
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| In circulation to | Log in to see details |
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| Obverse description | Log in to see details |
|---|---|
| Obverse script | Latin |
| Obverse lettering | Log in to see details |
| Reverse description | Log in to see details |
| Reverse script | Log in to see details |
| Reverse lettering | $1 |
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| Additional information |
The Eastern Caribbean Central Bank, established in 1983, took over monetary functions from the East Caribbean Currency Authority, which had itself replaced the British Caribbean Currency Board in 1965. The dollar it issues remains one of the few currencies still pegged at a fixed rate to the US dollar — at 2.70 EC to 1 USD, a rate unchanged since 1976. That rigidity is a deliberate policy choice by eight small island states that lack the economic mass to manage a floating currency independently.
By 2003, Elizabeth II's effigy on ECCB coinage had already cycled through multiple portrait updates, with this issue using the Rank-Broadley likeness adopted across most Commonwealth territories after 1998.