The 1976 series also included the introduction of Tuvalu`s first silver and gold bullion coins. One $5 silver coin and one $50 gold coin. They are legal tender and legal tender in Tuvalu. Tuvalu manufactures its own coins and these circulate freely with Australian coins. Just like sterling coins (like Gibraltar), they are not technically legal tender in Australia, but few would probably reject them in Oz. In 1994, as in many other Commonwealth countries, the Queen`s profile was changed for Raphael Maklouf`s new design. The older pieces from 1976-1985 bear the Arnold Machin design. After the 1994 issue, Tuvalu`s coins were no longer produced and Australian coins were sent in their place. However, Tuvalu coins are still legal tender and continue to circulate alongside Australian coins. The Tuvalu dollar is the currency of Tuvalu, whose unofficial international currency code is TVD. [1] Tuvalu has never had its own banknotes and has been issuing coins since 1976. However, the Tuvalu dollar is used as the unit of account and is pegged to the Australian dollar for parity. From 1966 to 1976, Tuvalu officially used the Australian dollar.

In 1976, Tuvalu began issuing its own coins, which continue to circulate alongside Australian coins. Tuvalu continues to use Australian banknotes. Tuvalu coins are not legal tender in Australia. Similar to the relationship of the Faroese krone to the Danish krone and the relationship of the Panamanian balboa to the US dollar, the Tuvalu dollar is not a separate currency, but a variation of the Australian dollar. What is the currency of Tuvalu? The short answer is that Tuvalu uses the Australian dollar as legal tender. However, there are still some interesting points when it comes to dealing with currencies in Tuvalu. Tuvalu has no monetary authority or central bank, and the National Bank of Tuvalu, the only bank in Tuvalu, performs certain monetary functions for the Government, including the maintenance of public accounts and foreign assets. [2] Although Australia withdrew its 1 and 2 cent coins in 1991, there was still demand for the two lower denominations in Tuvalu, so they were maintained even after Australia stopped using.

However, as prices and shipping costs gradually increased, the 1- and 2-cent coins have since been withdrawn from circulation. The Tuvalu dollar is pegged to a 1:1 parity with the Australian dollar. However, Tuvalu does not print its own tickets. This means that the Tuvalu dollar is only used as a unit of account for international trade, so the Australian dollar is the de facto currency of the country. The dollar coin is particularly cool and has a turtle on the reverse. Queen Elizabeth II is depicted on all coins issued by Tuvalu. Some politicians called for the abolition of the Tuvalu monarchy and the removal of the image of the ruler from all future coins, but a majority decision decided otherwise. In fact, the Australian dollar is not the actual official currency of Tuvalu, the official currency is the Tuvalu dollar – currency code TVD. There really aren`t many countries that don`t have ATMs, but Tuvalu is one of them. BRING MONEY. Since 1966, Tuvalu`s official currency has been the Australian dollar, with Australian banknotes used before and after independence.

The $1, $2, $5 and $10 bills were originally the only denominations sent, but higher denominations have since been used. However, after independence, the $1 note was withdrawn from circulation to encourage the use of the $1 coin. In 1976, in keeping with its planned independence, Tuvalu`s first coins were introduced in denominations of 1, 2, 5, 10, 20, 50 cents and $1. Designed by John Donald, the set features a theme of water. The 1 and 2 cent bronze coins and the 5, 10 and 20 cent copper-nickel coins were the same size, weight and composition as the corresponding Australian coins they were supposed to form. However, the 50-cent copper-nickel coin differed from the twelve-sided 50-cent coin in that it was round with smooth edges. The $1 non-agonal (nine-sided) copper-nickel coin was not only unique in its oddly shape, but it was also eight years older than the Australian $1 coin. It was also issued long before the trend towards higher unit value coins spread widely in many countries.

The nine sides of the dollar would represent each of the nine islands and atolls that make up the Tuvalu range. Each of the pieces depicts a marine animal native to the area, with the sole exception of the 1 cent, which depicts an empty spider shell washed ashore. Australia introduced a $2 coin in 1988 to replace the banknote, but Tuvalu`s $2 coins were never introduced. Instead, the Australian coin circulates on the spot. In recent years, Tuvalians have also preferred the round, smaller brass Australian dollar to their own large, clumsy non-ogonal dollars, and are therefore seen a little less frequently. Tuvalu also issues a significant number of non-circulating bullion coins and colourful commemorative coins, which bring a small portion of its limited income to the country. Credit cards are not accepted in Tuvalu. Bring Australian dollars! It is possible to change money at the airport when it is open and has money (which is rare), as well as at the National Bank, located next to the airport. Exchange rates in Tuvalu tend not to be very good at all. Other currencies used in Tuvalu were the British pound sterling before the introduction of the Australian dollar, as well as the US dollar during the American occupation of the islands during World War II. Gilbert and Ellice`s banknotes were also used in Tuvalu. These notes were bank cheques deposited in pounds sterling and not an official and independent currency.

The yen-backed Oceanian pound was used in parts of the Gilberts (present-day Kiribati), but Japanese influence never reached the Ellice Range (present-day Tuvalu). During the British colonial period, pounds sterling were used and during the American occupation of the islands during World War 2, the US dollar was the currency of Tuvalu.