Local residents sometimes refer to a notional dollar, equal to 100 vatu, without specifying which country's currency they have in mind. This stems from the period 1966–1973, when the New Hebrides franc was pegged to the Australian dollar at a rate of 100 francs = 1 dollar. Although no relationship currently exists, it simplifies thinking in the larger numbers which a low-value unit causes. For example, the Government's budget of 6,000,000,000VT is in fact only about US$50,000,000.
The concept of this notional dollar is supported by the size of the 100 vatu coin: at 23 mm, it is comparable to the Australian dollar (25 mm) and the New Zealand dollar (23 mm) but the thickness is equivalent to the current British pound coin. Traders will often accept a real dollar (regardless of its country) as an equivalent to local currency.
| Current VUV exchange rates | |
|---|---|
| From Google Finance: | AUD CAD CHF EUR GBP HKD JPY USD THB |
| From Yahoo! Finance: | AUD CAD CHF EUR GBP HKD JPY USD THB |
| From XE.com: | AUD CAD CHF EUR GBP HKD JPY USD THB |
| From OANDA.com: | AUD CAD CHF EUR GBP HKD JPY USD THB |
| From fxtop.com: | AUD CAD CHF EUR GBP HKD JPY USD THB |
Read more about this topic: Vanuatu Vatu
Famous quotes containing the word dollar:
“Johnny Clay: You like money. You got a great big dollar sign there where most women have a heart. So play it smart. Stay in character and you’ll have money. Plenty of it. George’ll have it and he’ll blow it on you. Probably buy himself a five-cent cigar.
Sherry Peatty: You don’t know me very well, Johnny. I wouldn’t think of letting George throw his money away on cigars.”
—Stanley Kubrick (b. 1928)
“I favor the policy of economy, not because I wish to save money, but because I wish to save people. The men and women of this country who toil are the ones who bear the cost of the Government. Every dollar that we carelessly waste means that their life will be so much the more meager. Every dollar that we prudently save means that their life will be so much the more abundant. Economy is idealism in its most practical terms.”
—Calvin Coolidge (1872–1933)
“Give a beggar a dime and he’ll bless you. Give him a dollar and he’ll curse you for witholding the rest of your fortune. Poverty is a bag with a hole at the bottom.”
—Anzia Yezierska (c. 1881–1970)