Currency - Vanuatu vatu

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Vanuatu vatu

Vt
The vatu (sign: VT; ISO 4217: VUV) is the currency of Vanuatu.

The vatu has no subdivisions.

The vatu was introduced in 1981, one year after independence, to replace the New Hebrides franc at par. The vatu was issued as a single unit with no subdivision, with the 1 vatu coin being the smallest denomination issued, in a similar vein to the (post-1953) Japanese yen and the Tajikistani ruble (although that had an official, if theoretical, subdivision).

The ISO 4217 currency code for the Vanuatu vatu is VUV. Its nationally recognized symbol Vt is the most often used in written format. The vatu's introduction also saw the end of the official circulation of the Australian dollar in Vanuatu.

Vanuatu's first post colonial coin was a 50 vatu coin introduced in 1981 and commemorated independence. It was struck in cupro-nickel like previous issues and was released into circulation, though originally its release was targeted more towards collectors. Shortly thereafter, in 1983, 1, 2, 5, vatu coins were released in aluminum bronze and 10, 20, and 50-vatu coins were introduced in cupro-nickel, replacing the coinage of the New Hebrides Franc as the new circulation currency. This also replaced the Australian currency that was circulating in the British controlled islands. All Vanuatu coins depict the Vanuatu coat of arms, consisting of a native warrior in front of a whorled pig's tusk, a traditional item of value. The reverses depict other traditional items of value.

Due to Vanuatu's French colonial history, the current vatu coins have the same size and coloration of the coins of New Hebrides which are based in part on French units, particularly the 1, 2, and 5 vatu in their similarity in size and composition to the 5, 10, and 20 centimes of the old French Franc. The 10, 20, and 50 vatu bear some similarities to Australian coins but are actually slightly larger with closer approximate size to coins of similar valuation to those in New Caledonia, and French Polynesia. In 1988, a nickel-brass 100 vatu coin was introduced, this coin replaced the 100 vatu note. The coin is of the same size and general thickness of the British 1 pound coin.

In 2011 the Reserve Bank of Vanuatu ceased to issue 1 and 2 vatu coins, which had become infrequently used due to inflation. Prices in Vanuatu stores are now rounded to the nearest 5 vatu.

As part of a coinage reform, new coins were minted in 2015 by the Royal Australian Mint.

These coins are denominated 5, 10, 20, 50, and 100 vatu.

Old coinage:

Country

New Hebrides

New Hebrides, officially the New Hebrides Condominium (undefined, "Condominium of the New Hebrides") and named for the Hebrides Scottish archipelago, was the colonial name for the island group in the South Pacific Ocean that is now Vanuatu. Native people had inhabited the islands for three thousand years before the first Europeans arrived in 1606 from a Spanish expedition led by Portuguese navigator Pedro Fernandes de Queirós. The islands were colonised by both the British and French in the 18th century, shortly after Captain James Cook visited.

The two countries eventually signed an agreement making the islands an Anglo-French condominium that divided the New Hebrides into two separate communities: one Anglophone and one Francophone. This divide continues even after independence, with schools teaching in either one language or the other, and with different political parties. The condominium lasted from 1906 until 1980, when the New Hebrides gained their independence as the Republic of Vanuatu.

Language

Vanuatu vatu (English)  Vatu (Italiano)  Vanuatuaanse vatu (Nederlands)  Vatu (Français)  Vatu (Deutsch)  Vatu (Português)  Вату (Русский)  Vatu (Español)  Vatu (Polski)  萬那杜瓦圖 (中文)  Vatu (Svenska)  Vatu (Română)  バツ (日本語)  Вануатський вату (Українська)  바누아투 바투 (한국어)  Vanuatun vatu (Suomi)  Vatu Vanuatu (Bahasa Indonesia)  Vatu (Lietuvių)  Vanuatský vatu (Česky)  Vatu (Türkçe)  Вануатски вату (Српски / Srpski)  Vanuatui vatu (Magyar)  Vanuatski vatu (Hrvatski)  Βάτου (Ελληνικά)  Vatu Vanuatu (Tiếng Việt) 
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