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Encyclopedia > Vanuatu vatu
Vatu
200 Vatu Commemorative Note
200 Vatu Commemorative Note
ISO 4217 code: VUV
Symbol: none
1/100th unit: none
Introduced in: ?
Exchange Rates September 2005
USD exchange: 111
EUR exchange: 139
GBP exchange: 205

The vatu (ISO 4217: VUV, sometimes Vt) is the official currency of Vanuatu. It was introduced in 1983, after independence, to replace the New Hebrides franc at par. The vatu's introduction also saw the end of the official circulation of the Australian dollar in Vanuatu. The vatu has no subdivisions. 200 Vatu Note - 1995 Anniversary of Independence Found at http://aes. ... ISO 4217 is the international standard describing three letter codes (also known as the currency code) to define the names of currencies established by the International Organization for Standardization (ISO). ... A question mark is a punctuation mark. ... This article is about general United States currency. ... The euro (currency sign: €; banking code: EUR) is the official currency of the European Union and single currency for over 300 million Europeans in the following twelve European Union member states: Austria, Belgium, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, the Netherlands, Portugal and Spain; collectively also known as the... The pound (symbol:£ banking code:GBP) is the official currency of the United Kingdom (UK). ... ISO 4217 is the international standard describing three letter codes (also known as the currency code) to define the names of currencies established by the International Organization for Standardization (ISO). ... 1983 (MCMLXXXIII) was a common year starting on Saturday of the Gregorian calendar. ... This article needs to be wikified. ... The Australian dollar (currency code AUD) has been, since 1966, the currency of the Commonwealth of Australia, including the Australian Antarctic Territory, Christmas Island, Cocos (Keeling) Islands, Heard Island and McDonald Islands and Norfolk Island, as well as the independent Pacific Island states of Kiribati, Nauru and Tuvalu. ...


Currency is available as both notes and coins.:

  • Notes come in denominations of 100, 200, 500, 1000 and 5000 vatu.
  • Coins:
    • Nickel brass: 1 vatu (16 mm) ; 2 vatu (19 mm) ; 5 vatu (23 mm)
    • Cupronickel : 10 vatu (24 mm) ; 20 vatu (28 mm) ; 50 vatu (33 mm, a large coin)
    • Nickel brass: 100 vatu (23 mm)

The value of the vatu floats, but is reputed to be pegged to a fixed but secret basket of currencies. Approximate rates (September 2005, rounded to nearest vatu) are 1 USD = 111 VUV, 1 GBP = 205 VUV, 1 AUD = 85 VUV, 1 NZD = 79 VUV, 1 EUR = 139 VUV, 10 HKD = 143 VUV, 100 JPY = 102 VUV. 2005 (MMV) was a common year starting on Saturday of the Gregorian calendar. ... The United States dollar is the official currency of the United States. ... The pound (symbol:£ banking code:GBP) is the official currency of the United Kingdom (UK). ... The Australian dollar (currency code AUD) has been, since 1966, the currency of the Commonwealth of Australia, including the Australian Antarctic Territory, Christmas Island, Cocos (Keeling) Islands, Heard Island and McDonald Islands and Norfolk Island, as well as the independent Pacific Island states of Kiribati, Nauru and Tuvalu. ... A New Zealand $100 polymer banknote, replacement of the old paper notes. ... The euro (currency sign: €; banking code: EUR) is the official currency of the European Union and single currency for over 300 million Europeans in the following twelve European Union member states: Austria, Belgium, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, the Netherlands, Portugal and Spain; collectively also known as the... The Hong Kong dollar (currency code HKD) is the currency of the Hong Kong Special Administrative Region of the Peoples Republic of China, and has been the currency of Hong Kong since 1937. ... Japanese 10 yen coin (obverse) showing Phoenix Hall of Byodoin Yen is the currency used in Japan. ...


Local residents sometimes refer to a notional dollar, equal to 100 vatu, without specifying which country's currency they have in mind. This stems from the period 1966–1973, when the New Hebrides franc was pegged to the Australian dollar at a rate of 100 francs = 1 dollar. Although no relationship currently exists, it simplifies thinking in the larger numbers which a low-value unit causes. For example, the Government's budget of 6,000,000,000 VUV is in fact only about 50,000,000 USD.


The concept of this notional dollar is supported by the size of the 100 vatu coin: at 23 mm it is comparable to the Australian dollar (25 mm) and the New Zealand dollar (23 mm), two major sources of Vanuatu expatriates and tourists. Traders will often accept a real dollar (regardless of its country) as an equivalent to local currency.



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Pacific Australian dollar (Kiribati, Nauru, Norfolk Island, Tuvalu) | CFP franc (French Polynesia, New Caledonia, Wallis and Futuna) | Fijian dollar | New Zealand dollar (Cook Islands, Niue, Tokelau, Pitcairn Islands) | Papua New Guinean kina | Samoan tala | Solomon Islands dollar | Tongan pa'anga | US dollar (American Samoa, Guam, Northern Mariana Islands, Marshall Islands, Federated States of Micronesia, Palau) | Vanuatu vatu
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  Results from FactBites:
 
Vanuatu Vatu and Vanuatu currency information including currency exchange rates (494 words)
The Vatu, denoted by VUV or sometimes Vt, is the official currency of Vanuatu.
The Vatu is a unit on its own and has never been split into hundredths or any other subdivisions.
The Vatu's value floats, but is presumed to be pegged to a fixed but confidential basket of currencies.
  More results at FactBites »

 
 

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