GYD to STD

GYD - Guyanaese Dollar (GYD)

Guyanaese Dollar

The Guyanese Dollar is the official currency of Guyana, a sovereign state on the northern coast of South America. It is culturally identified with the English-speaking islands of the Caribbean because it was one of the territories, known as British Guiana, of the British West Indies.

The Guyanese Dollar is the currency in Guyana (GY, GUY). The symbol for GYD can be written G$. The Guyanese Dollar is divided into 100 cents. The exchange rate for the Guyanese Dollar was last updated on May 24, 2019 from Yahoo Finance. The GYD conversion factor has 5 significant digits.

Economy

• The main economic activities in Guyana are agriculture (rice and Demerara sugar), bauxite mining, gold mining, timber, and shrimp fishing.
• Chronic problems include a shortage of skilled workers and poor infrastructure.
• The government has juggled a considerable debt and the urgent need to expand public investment, and its fiscal position traditionally erodes when agricultural and mineral commodity prices are low. The country overhauled its tax code in early 2007 with a Value Added Tax (VAT) that is expected to add significant funds for public spending.
• The Guyanese economy has shown moderate economic growth since 1999, thanks to the expansion in the agricultural and mining sectors, a more favorable environment for entrepreneurship, a more realistic exchange rate, low inflation, and the continued support of international organizations.
• Economic growth has slowed as a result of the world recession, but GDP real growth rate continues to be over 3%, according to the CIA World Fact Book.

History

• In the 1800s, like other British West Indies territories, British Guiana used regular British coins, along with 2 and 4 pennies.
• The Guyanan Dollar shares the history of currency with other territories in the British West Indies, with a few exceptions: British Guiana continued to use the four-pence coin mill when other territories abandoned it, and used Dollar accounts in public and private sectors exclusively from 1839 (whereas other territories used a mix of accounts in Dollars and the British Pound until 1951).
• Between 1891 and 1916, four-cent coins were issued specifically for "British Guiana and the West Indies," and between 1917 and 1945 for "British Guiana".
• In 1916, paper money was first issued by the Government of British Guiana, in denominations of 1, 2, 5, 20 and 100 dollars.
• Guyana gained independence from United Kingdom on May 26, 1966, and became a republic on February 23, 1970.
• Banknotes were introduced in 1966 in denominations of 1, 5, 10 and 20 Guyanese Dollars. A second series was issued between 1989 and 1992 in denominations of $20, 100 and 500. The 1996-1999 series added a $1,000 bill. New $100 and $1,000 bills were issued in 2005 with added safety features.

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STD - São Tomé & Príncipe Dobra (1977–2017) (STD)

São Tomé & Príncipe Dobra (1977–2017)

Sao Tome and Principe are two small Portuguese-speaking islands approximately 140 kilometers apart in the Gulf of Guinea. The Dobra is the official currency of the islands and is represented by the symbol Db. The Dobra was pegged to the Euro in 2010 at a stable rate of 1 Euro = 24,500 STD.

The Sao Tome Dobra is the currency in Sao Tome and Principe (ST, STP). The symbol for STD can be written Db. The Sao Tome Dobra is divided into 100 centimos. The exchange rate for the Sao Tome Dobra was last updated on May 24, 2019 from Yahoo Finance. The STD conversion factor has 5 significant digits.

Economy

• Economic development in Sao Tome and Principe has been adversely affected by factors such as government decisions and natural disasters, as well as lack of resources.
• Cocoa has been the main contributor to economic development in Sao Tome and Principe for the past 34 years. However, this has been affected by disasters such as drought. Bananas, fish, cinnamon, beans, and poultry also contribute to agricultural production, but it does not meet the needs of the consumers.
• Modern economic development has been geared towards developing the large amount of oil said to be present in the Gulf of Guinea.
• The majority of manufactured goods are imported.
• The authorities have tried to decrease price controls and grants, but monetary development has remained inactive.

History

• The Escudo was replaced by the Dobra at a rate of 1:1.
• In 1996, banknotes were issued in denominations of 5,000, 10,000, 20,000 and 50,000 dobras.
• In 1997, coins were issued in denominations of 50 cêntimos, 1, 2, 5, 10 and 20 dobras.
• In 1997, banknotes were issued in denominations of 50, 100, and 1,000 dobra.
• In 2008, 10,000 dobra banknotes were issued.
• In 2010, the Dobra was officially pegged to the Euro at a stable rate of 1 Euro = 24,500 STD.

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