Currency of Aruba - Special Facts about Aruban florin
The official currency of Aruba is known as Aruban florin (or Aruban guilder). It is subdivided into 100 cents and is denoted by the sign ƒ. The ISO 4217 code for Aruban florin is AWG¸ which stands for Arubaanse Wettelijke Gulden. Aruban florin was introduced in the year1986 after replacing Netherlands Antillean guilder which was used until then in Aruba.
The Aruban florin has a unique square shaped 50-cent yotin coin. The guilder has been holding a peg to the US Dollar since 1986 and the exchange rate that time had been 1.79 AWG to 1 USD. However¸ there is little or no chance of exchanging the guilder outside Aruba.
Currency of Aruba - Aruban florin Coin Types
When the Aruban florin was introduced in 1986¸ the coins were issued in the denominations of 5¸ 10¸ 25 and 50 cents¸ 1 and 2½ florin. However¸ the 5 florin note that was being circulated soon got replaced by a square coin. The 2½ coin that was in circulation was also withdrawn. The square 5 florin coin was replaced by a round golden coin in the year of 2005.
The Aruban florin coins are typically made of nickel-bonded steel. The only exception is the 5 florin coin which is made up of copper and other metals. Only the 50 cent coin retains its square shape. It is also known as yotin.
Currency of Aruba - Aruban florin Banknote Types
The banknotes of Aruban florin were also introduced in 1986 in the denominations of 5¸ 10¸ 25¸ 50 and 100 florin. The 500 florin notes were in circulation from 1993. The 5 florin note was replaced with a 5 florin coin in 1995.
Currency of Aruba - Currency Exchange Rate to other World Famous Currencies like US¸ UK etc
As of February 17th¸ 2011¸ the currency exchange rates of Aruban florin to the currencies of US and UK are:
1.00 USD = 1.79000 AWG
1.00 GBP = 2.89814 AWG
However¸ the values are floating¸ and the exchange rates always tend to change according to the money market trends.
Currency of Aruba - Official website details of Aruban florin:
You can check the official website for Aruban florin at www.cbaruba.org for more detailed information on the currency of Aruba.
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