Vanuatu vatu
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2008-04-30T05:23:14Z
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{{Infobox Currency
| image_1 = 200 Vatu Commemorative Note.jpg
| image_title_1 = 200 vatu commemorative banknote
| iso_code = VUV
| using_countries = [[Vanuatu]]
| inflation_rate = -1.6%
| inflation_source_date = ''[https://www.cia.gov/library/publications/the-world-factbook/fields/2092.html The World Factbook]'', 2005 est.
| subunit_ratio_1 = None
| subunit_name_1 = None
| symbol = Vt
| used_coins = Vt1, Vt2, Vt5, Vt10, Vt20, Vt50, Vt100
| used_banknotes = Vt100, Vt200, Vt500, Vt1000, Vt5000
| issuing_authority = [[Reserve Bank of Vanuatu]]
| issuing_authority_website = www.rbv.gov.vu
}}
The '''vatu''' ([[ISO 4217]]: ''VUV'', sometimes ''Vt'') is the currency of [[Vanuatu]]. Vatu has no subdivisions.
==History==
The vatu was introduced in [[1982]], after independence, to replace the [[New Hebrides franc]] at par. The vatu's introduction also saw the end of the official circulation of the [[Australian dollar]] in Vanuatu.
==Coins==
In 1983, 1, 2, 5, 10, 20 and 50 vatu coins were introduced, followed by 100 vatu in 1988.
{|class="wikitable"
!Denomination!!Composition!!Diameter
|-
|1 vatu||rowspan="3"|Nickel-brass||16 mm
|-
|2 vatu||19 mm
|-
|5 vatu||23 mm
|-
|10 vatu||rowspan="3"|Cupro-nickel||24 mm
|-
|20 vatu||28 mm
|-
|50 vatu||33 mm
|-
|100 vatu||Nickel-brass||23 mm
|}
==Banknotes==
In 1982, notes were introduced by the Central bank of Vanuatu in denominations of 100, 500 and 1000 vatu. 5000 vatu notes followed in 1989. In 1993, the [[Reserve Bank of Vanuatu]] took over paper money issuance and introduced notes for 500 and 1000 vatu. 200 vatu notes were introduced in 1995
=="Dollar"==
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 6,000,000,000 VUV is in fact only about 50,000,000 USD.
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.
{{Exchange Rate|VUV|THB}}
==See also==
* [[Economy of Vanuatu]]
==References==
{{refbegin}}
*{{numis cite SCWC|date=1991}}
*{{numis cite SCWPM|date=1994}}
{{refend}}
==External links==
{{Standard numismatics external links
| world_coin_gallery_1_url = Vanuatu
| world_coin_gallery_1_name = Vanuatu
| banknote_world_1_url = vanuatu
| banknote_world_1_name = Vanuatu
| dollarization_1_url = vu
| dollarization_1_name = Vanuatu
| gfd_1_url = Vanuatu
| gfd_1_name = Vanuatu
| gfd_data_1_url =
| gfd_data_1_name =
| show_gfd_excel = Y
}}
{{Currencies of Oceania}}
[[be:Вату]]
[[be-x-old:Вату]]
[[ca:Vatu]]
[[de:Vatu]]
[[el:Βάτου]]
[[es:Vatu]]
[[fr:Vatu]]
[[ko:바누아투 바투]]
[[bpy:ভানুয়াতু ভাতু]]
[[it:Vatu di Vanuatu]]
[[he:ואטו]]
[[lt:Vatu]]
[[hu:Vanuatui vatu]]
[[nl:Vatu]]
[[ja:バツ (通貨)]]
[[pl:Vatu]]
[[pt:Vatu]]
[[ru:Вату]]
[[fi:Vatu]]
[[sv:Vatu]]
[[tg:Ватуи Вануату]]