Eastern Caribbean Currency Union

The Eastern Caribbean Currency Union is one of four regional currency unions in the world, allowing its members to share a common currency, the Eastern Caribbean dollar. It was established in 1983, replacing the earlier Eastern Caribbean Currency Authority, and its eight members are Antigua and Barbuda, Dominica, Grenada, St. Kitts and Nevis, St. Lucia and St. Vincent and the Grenadines, along with the British territories of Anguilla and Montserrat. The Eastern Caribbean Central Bank maintains the union's shared currency, holding foreign reserves and setting borrowing limits for member governments and banks, and it has kept the Eastern Caribbean dollar fixed at 2.70 to the United States dollar since July 7, 1976.