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GBP to VUV Exchange Rate

Currency Information on VUV. Currency Information on Vanuatu - VUV- Vanuatu vatu - VT, The foreign exchange currency code for VUV represents the Vanuatu vatu exchange rate. Currency Exchange Rates for Vanuatu vatu.


The Vanuatu vatu is the official-currency of the country of Vanuatu. its ISO 4217 code is VUV and its symbol is VT.
The currency was introduced in 1981 after independence to replace the new hebrider franc and the Australian dollar which ceased to operate.
It is issued as a single unit with no subunit.
Coins and notes
Immediately after independence, in 1981 the central bank issued a 500 coin and in 1983 1,2,5 coins in aluminium bronze and 10,20, and 50 coins in cupro nitro.in 1988 they introduced the 100 coin and when it came to 2011, they ceased to issue the 1 and 2 coins as they weren't being used.
At independence in 1982, the central bank introduced bank notes in denominations of 100,500 and 1000. They added the 5000 note in 1989. When it came to 1993, the reserve bank took control of issuing notes and started by rolling out the 500 and 1000.in 1995 they introduced the 200 as many people were having problems with change.in 2010 they issued a commemorative note of 10,000 that went out of circulation by 2014 the year in which a new note of 2000 was introduced.
Substitute currencies.

Although the Vanuatu vatu is the national currency, many people in the islands still use traditional means of currency to settle issues and disputes such as fines and bride price with for example pigs, curved boar tusks and long dyed mats.
All Vanuatu coins show the Vanuatu coat of arms which consists of a native warrior in front of a pigs tusk that's been whorled. this is a traditional item of value. the other side shows other traditional items of value to the local people.
Due to the French colonial history, the currency coins have the same size and coloration as the coins of new Hebrides. The 1,2,5 coins look like the 5,10,20 French francs.
So that they can simplify thinking in large numbers for notes that are of low value but very many zeros, the local people refer to the 100 vatu as the notional dollar. the coin is the same size as the Australian dollar which is 25 mm and the New Zealand dollar which is 23 mm.
The Australian dollar is the most popular exchange rate with the vatu but for any person entering Vanuatu no other currency is allowed in the islands.
The traditional methods of payment and other forms of currency depended on the economic activities of the people. they were farmers and also fishermen. trade was done using locally available products

Convert Pound to Vanuatu vatu

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