Tuvalu - Money



The Australian dollar is legal currency in Tuvalu, but the nation mints its own coins. Since Tuvalu's currency

Exchange rates: Tuvalu
Tuvaluan dollars (T$) per US$1
Jan 2001 1.7995
2000 1.7173
1999 1.5497
1998 1.5888
1997 1.3439
1996 1.2773
SOURCE: CIA World Factbook 2001 [ONLINE].

GDP per Capita (US$)
Country 1996 1997 1998 1999 2000
Tuvalu N/A N/A N/A 1,100 N/A
United States 28,600 30,200 31,500 33,900 36,200
Philippines 2,600 3,200 3,500 3,600 3,800
Solomon Islands 3,000 3,000 2,600 2,650 2,000
Note: Data are estimates.
SOURCE: Handbook of the Nations , 17th, 18th, 19th and 20th editions for 1996, 1997, 1998 and 1999 data; CIA World Factbook 2001 [Online] for 2000 data.

is tied to that of Australia, it is relatively stable and its value is determined by supply and demand in international exchange markets. The government-owned National Bank of Tuvalu is responsible for most financial services; however, the limited capital of the institution means that funds for development must come from abroad. In 1995, 1 U.S. dollar equaled 1.35 Australian dollars and in 2000, 1 U.S. dollar equaled 1.52 Australian dollars.

Also read article about Tuvalu from Wikipedia

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