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Need to know waht is the local currency in Grenada? The local currency in Grenada is called East Caribbean Dollar.

The Grenadian East Caribbean Dollar is issued and managed by the Eastern Caribbean Central Bank. To find out the current currency exchange rates for East Caribbean dollar to other major currencies of the world, click on foreign currency rates.

Grenadian Currency Information
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The currency used in Grenada is called as the East Caribbean Dollar. This currency is denoted with the currency sign $ and the ISO 4217 Code for the Grenadian East Caribbean Dollar is XCD. The East Caribbean Dollar, is the official currency of the Grenada . It is divided into 100 smaller units called Cent.

The constitution of Grenada provides that the Grenada government shall have the power to print the Grenadian East Caribbean Dollar and Cent coins to be used as a legal tender in Grenada. The Grenadian East Caribbean Dollar bank notes and Cent coins are both designated as "legal tender" in payment of debts.

The Grenadian East Caribbean Dollar bill uses the decimal system, consisting of 100 equal units.

The symbol $, usually written before the numerical amount, is used for the Grenadian East Caribbean Dollar.

Currently printed bank notes denominations are 5, 10, 20, 50, 100 dollars and the coins are minted in the denominations of 1, 2, 5, 10, 25 cents, 1 dollar and 2 dollar .

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The Effect of Balance of Trade and Investment on Grenadian East Caribbean dollar
Financial analysts regularly cite the balance of trade and investment in Grenada as the most important influence on the value of the East Caribbean Dollar. The difference between what the Grenada exports and imports in terms of goods and services to and from other countries can be obtained from a balance of trade statement.

The balance of investment on the other hand represents the difference in exports and imports of capital. If exports from East Caribbean Dollar exceed imports from other countries, in either the balance of trade or balance of investments, it is called a surplus. The term deficit is used when the imports into East Caribbean Dollar exceed exports to other countries. The points below go into detail to explain on how the balance of trade and balance of investments affect the Grenadian East Caribbean Dollar.

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