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Dominica Currency and Money information

The Commonwealth of Dominica, commonly known as Dominica, is an island nation in the Caribbean Sea. Bananas and other agriculture dominate Dominica's economy, and nearly one-third of the labor force works in agriculture. This sector, however, is highly vulnerable to weather conditions and to external events affecting commodity prices. Economic growth in 2006 was attributed to gains in tourism, construction, offshore and other services, and some sub-sectors of the banana industry.

Dominica currency is the East Caribbean dollar (sign: $; code: XCD). The East Caribbean Dollar was introduced in 1965 and is normally abbreviated with the dollar sign $ or, alternatively, EC$ to distinguish it from other dollar-denominated currencies. The EC$ is subdivided into 100 cents. It has been pegged to the United States dollar at US$1 = EC$2.7 since 1976.

This currency is used by: Antigua and Barbuda, Dominica, Grenada, Saint Kitts and Nevis, Saint Lucia, Saint Vincent and the Grenadines, Anguilla and Montserrat.

The EC$ is issued by the Eastern Caribbean Central Bank, located in Saint Kitts and Nevis. The bank was established by an agreement signed at Port of Spain on July 5, 1983: The Eastern Caribbean Central Bank Agreement.