About the AUD/TTD rate
The AUD/TTD rate is how many TTD one Australian dollar buys. It moves constantly with interest-rate expectations, commodity prices and global risk sentiment - see what moves the rate. Tradergy shows the mid-market reference rate and does not forecast where it’s heading. For the 52-week highs and lows and a daily table, see the AUD/TTD rate history.
Related views of this rate: the reverse rate, TTD → AUD, is on the receiving Trinidad and Tobago dollar view, and sending Australian dollars to Trinidad and Tobago is covered on the AUD → TTD transfer page. Every AUD pair sits on the convert hub, and to work in more than one currency at once there is the currency converter.
The demonetisation that needed the law changed first
Trinidad and Tobago called in its entire stock of hundred-dollar cotton notes in three weeks. The Central Bank estimated 81,695,206 of them in circulation on 6 December 2019; by 24 April 2020 the figure had fallen to 4,765,213, a conversion of 76,929,993 notes. The Bank's own working paper on the exercise, by its Governor and a manager in its Research Department, records the value that never came back as TT$476.5 million, or 5.8 per cent of what had been in circulation, and sets that beside 3.4 per cent for Kenya and under one per cent for India.
The timetable required a change in the law before it could begin. Until 8 December 2019 section 27 of the Central Bank Act required at least three months' notice in the Gazette for a demonetisation and envisaged the Bank redeeming the withdrawn currency indefinitely. A new section 27A allowed the Minister of Finance to direct the Bank to cancel a note on a minimum of fourteen days' notice, with a three-month post-demonetisation redemption window under strict conditions. The withdrawal of the one-cent coin the year before had given the public over a year.
The logistics moved at the same speed. The new note was unveiled on the afternoon of 5 December 2019 and eighty million polymer hundred-dollar notes arrived in the country over the weekend of 7 and 8 December for distribution to banks.
The rest of the family followed at an ordinary pace. The Central Bank's own record of the current notes has the five and ten dollar polymer notes issued on 2 November 2020 and the one and fifty on 15 February 2021, with every banknote bearing a series date before 2020 ceasing to be legal tender on 1 January 2022 - and redemption of those older one, five, ten, twenty and fifty dollar notes continuing indefinitely at the Bank.
One concession reopened the window. After public representation the Minister of Finance allowed a period from 17 to 31 January 2020 in which any individual could make a one-time exchange of up to TT$1,000 with identification and a form but no declaration of the source of funds. Daily transactions at the Central Bank leapt while it ran, and the total value converted across the fortnight was TT$18 million, which the Bank reads as showing no significant leakage through illicit conversions.
Sources: Alvin Hilaire and Reshma Mahabir, The Great Exchange: Rapid Demonetization in Trinidad and Tobago, Central Bank of Trinidad and Tobago Working Paper WP 03/2020, June 2020 · Central Bank of Trinidad and Tobago, Current Bank Notes