Basic Data:

• Country ISO Code: TV

• Official Languages: Tuvaluan, English

• Language ISO Codes: tvl (Tuvaluan), en (English)

• Current Official Currency: Australian Dollar

• Current Currency ISO Code: AUD

Currency History and Details:
Tuvalu uses the Australian dollar (AUD) as its official currency. Additionally, Tuvalu issues its own coins denominated in cents and dollars, which are legal tender alongside Australian currency. These coins are produced primarily for collectors and feature local cultural and natural motifs.

• The Australian dollar was adopted as the official currency of Tuvalu upon independence in 1978, replacing the Australian pound which was used previously.

• Tuvaluan coins have been minted since 1976, often with unique designs reflecting Tuvaluan heritage, but Australian banknotes circulate as the primary paper currency.

Currency Characteristics:

• ISO Code: AUD (for Australian dollar)

• Symbol: $ or A$

• Subdivision: 1 dollar = 100 cents

• Issued by: Reserve Bank of Australia (for banknotes), Government of Tuvalu (for coins)

Coins:

• Tuvalu issues coins in denominations of 1, 2, 5, 10, 20, and 50 cents, and 1 dollar coins.

• These coins often depict Tuvaluan cultural symbols, marine life, and other local themes.

• Coins are minted by external mints, such as the Royal Australian Mint, mainly for collector markets but are legal tender in Tuvalu.

Banknotes:

• Tuvalu uses Australian banknotes exclusively, with denominations of 5, 10, 20, 50, and 100 Australian dollars.

Economic Context:

• Tuvalu’s economy is small and heavily reliant on fishing licenses, remittances, and foreign aid.

• The use of the Australian dollar provides monetary stability and facilitates trade.

Current Circulation Status:

• Australian banknotes and Tuvaluan coins circulate concurrently as legal tender.

• Tuvaluan coins are less common in daily transactions but remain legal currency.

Issuing Authority:

• Reserve Bank of Australia (banknotes)

• Government of Tuvalu (coins)

Legislation:

• Monetary arrangements are governed by agreements between Tuvalu and Australia.

Summary of Coins and Banknotes in Circulation:

This report outlines the currency system of Tuvalu, highlighting the use of the Australian dollar as official currency and the issuance of Tuvaluan coins as legal tender with cultural significance.