Currency Rate
Aruba Florin to USD
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Buying rate
AWG 0.489778
Selling rate
AWG0.620333
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The Aruban florin (symbol: Afl; code: AWG) is the official currency of Aruba.
Currency Details
- Country code AW
- Symbol AWG
- ISO Code AWG
- Subunits 1 Florin = 100 Cents
Coins
- 5 cents
- 10 cents
- 25 cents
- 50 cents
- 1 florin
- 2½ florin
- 5 florin
Banknotes
- 10 florin
- 25 florin
- 50 florin
- 100 florin
The Aruban Florin, commonly abbreviated as AWG, is Aruba's official currency, exclusively used within its borders. Known locally as the "florin," the AWG is symbolized as "ƒ" or "Afl." Introduced precisely on January 1, 1986, the florin decisively replaced the Netherlands Antillean guilder at par value, signifying Aruba's transition to an independent currency following its attainment of greater autonomy within the Kingdom of the Netherlands.
History and Background
The Aruban Florin's introduction was not merely a currency exchange; it was a pivotal moment marking Aruba's distinct status within the Kingdom of the Netherlands. It signaled Aruba's emergence as a separate entity within the kingdom, firmly establishing its own financial identity and economic policies.
Economic Significance
The AWG is the backbone of Aruba's economy, serving as the primary medium for trade, investment, and tourism transactions. Aruba's economic landscape heavily leans on tourism, oil refining, offshore banking, and aloe exportation. To maintain economic stability and encourage international business and tourism, the florin is pegged to the US dollar at a fixed rate of 1.79 florins per US dollar.
Usage and Exchange
Across Aruba, the AWG is universally accepted for all transactions, ranging from everyday purchases to substantial business transactions. Foreign currency exchange for florins is easily facilitated through numerous exchange bureaus, banks, and ATMs scattered across the island, catering to the needs of both visitors and expatriates. The widespread acceptance of major credit cards further enhances convenience for international travelers.
Conclusion
The Aruban Florin represents more than mere monetary value; it embodies Aruba's economic sovereignty and rich cultural heritage. Acquainting oneself with the intricacies of the AWG is imperative for anyone seeking to engage with Aruba's dynamic economy, whether as a resident or a visitor. The stability and accessibility of the florin are pivotal to ensuring the island's economic resilience and fostering sustained growth.
History and Background
The Aruban Florin's introduction was not merely a currency exchange; it was a pivotal moment marking Aruba's distinct status within the Kingdom of the Netherlands. It signaled Aruba's emergence as a separate entity within the kingdom, firmly establishing its own financial identity and economic policies.
Economic Significance
The AWG is the backbone of Aruba's economy, serving as the primary medium for trade, investment, and tourism transactions. Aruba's economic landscape heavily leans on tourism, oil refining, offshore banking, and aloe exportation. To maintain economic stability and encourage international business and tourism, the florin is pegged to the US dollar at a fixed rate of 1.79 florins per US dollar.
Usage and Exchange
Across Aruba, the AWG is universally accepted for all transactions, ranging from everyday purchases to substantial business transactions. Foreign currency exchange for florins is easily facilitated through numerous exchange bureaus, banks, and ATMs scattered across the island, catering to the needs of both visitors and expatriates. The widespread acceptance of major credit cards further enhances convenience for international travelers.
Conclusion
The Aruban Florin represents more than mere monetary value; it embodies Aruba's economic sovereignty and rich cultural heritage. Acquainting oneself with the intricacies of the AWG is imperative for anyone seeking to engage with Aruba's dynamic economy, whether as a resident or a visitor. The stability and accessibility of the florin are pivotal to ensuring the island's economic resilience and fostering sustained growth.