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The twin islands of the Republic of Trinidad & Tobago are Caribbean islands known for its diverse cuisine and steel pan music.
It is perhaps one of the most diverse islands in the Caribbean with the population comprising of individuals from varied descent.
If you are planning a vacation to the twin Republic of Trinidad & Tobago, you may have some questions around what currency is best for the islands.
The best currency to use in Trinidad and Tobago is the TT Dollar. The US Dollar is accepted everywhere on the island. It is best to carry small denominations of the US Dollar. Change is usually given in TT Dollars. Credit and debit cards are accepted by small, medium and large businesses.
What Is The Official Currency of Trinidad & Tobago
The official currency of Trinidad & Tobago is the Trinidad and Tobago Dollar (TTD) which is divided into 100 cents.
The currency is issued and managed by the Central Bank of Trinidad and Tobago located in the heart of the city Port of Spain.
The currency is available in bank notes and coins. Bank notes are in 1, 5, 10, 20, 50 & 100 denominations. Alternatively, coins are available in 5, 10 and 25 cents pieces.
Do I need cash in Trinidad & Tobago?
Cash is required when dealing with street vendors and extremely small businesses. On a whole, small, medium and large businesses have facilities to readily accept credit and debit card payments.
Can you use US dollars in Trinidad & Tobago?
US dollars are widely accepted by businesses both small and large businesses on the islands with the rate of exchange being higher than commercial banks.
The rate that you will get on the street is usually around USD$1 is TTD$7. Alternatively, this is usually TTD $6 and cents at the commercial bank for USD$1.
Kindly note that US notes that are worn, marked or torn are usually rejected. US coins are not used in Trinidad & Tobago.
Can you use Canadian dollars in Trinidad & Tobago?
Some local businesses may accept Canadian dollars despite fluctuations against the TT Dollar.
Alternatively, others will refer you to the commercial banks to have your notes converted. Acceptance of Canadian dollars is not widespread as US dollars on the islands.
Popular commercial banks on the islands include First Citizen Bank, Scotiabank and Republic Bank.
Can you use British Pound Sterling dollars in Trinidad & Tobago?
Along the same lines as the Canadian dollars, certain businesses may accept the Pound Sterling despite the fact that the rates changes daily against the TT Dollar.
Alternatively, others will ask you to visit a commercial bank to have your monies converted.
Can you use a debit card in Trinidad & Tobago?
Debit cards can be used on the island at the ATM machines on both islands and are available 24 hours. Kindly note that there are usually fees charged for the use of foreign cards.
General Tips To Remember In Trinidad & Tobago
Most small, medium and larger businesses on the islands accept credit and debit cards.
Depending on the amount of foreign currency you want to exchange at a commercial bank, a source of funds declaration may be necessary.
A minimum of two pieces of identifications are required to do businesses with local commercial banks.
It is also prudent to travel with more than one credit card in case of challenges.
US dollars are widely accepted across the island with the usual rate on the street being TT$7 for USD $1. The rate at the commercial bank tends to be lower.
Ensure and notify your banks prior to traveling to prevent credit cards from being blocked as you begin using it on the islands.
Some hotels may provide foreign currency conversion services. Kindly note that these rates tend to be less favorable than commercial banks.
Regular banking days are Mondays to Fridays with certain branches opening for some hours on Saturdays.
The rate of crime is higher in Trinidad & Tobago than other Caribbean islands such as the neighboring Eastern Caribbean islands of Grenada and St Lucia.
Exercise great care when handling your money is public. It may be wise to do multiple withdrawals at the bank rather than one lump sum withdrawal for your trip.
First Citizens’ Bureau de Change is located near the custom exit at Piarco International Airport.
A fast ferry inter island service is available which completes the 20 mile journey from Trinidad to Tobago in about 3 to 3.5 hours from the terminal in Port of Spain.
Final Thoughts
As a general rule, the best currency to use in the Trinidad and Tobago is the TT Dollar. US Dollars are accepted by businesses on the island. For ease of use, travel with US Dollars of smaller denominations. Change is given in TT Dollars. US coins and bank notes that are worn or torn are rejected.
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