What Currency is in Aruba: A Comprehensive Guide for Travelers and Businesses

Introduction

Aruba is a beautiful Caribbean island that draws thousands of visitors each year. Whether you're planning a vacation or expanding your business in the region, understanding the local currency is crucial for a smooth and successful experience. This article aims to provide a comprehensive overview of what currency is in Aruba, its history, and practical tips for managing your finances during your stay.

Currency in Aruba: The Aruban Florin

The official currency in Aruba is the Aruban Florin, commonly abbreviated as "AWG". Introduced in 1986, the Aruban Florin is pegged to the US dollar at a fixed exchange rate of 1 AWG = 1.79 USD. This peg ensures stability and convenience for both locals and tourists.

Currency	Symbol	Value
Aruban Florin	AWG	1
US Dollar	USD	1.79

Historical Background

Before the Aruban Florin, Aruba used several currencies, including the Dutch guilder, the Venezuelan bolívar, and the Antillean guilder. The introduction of the Aruban Florin in 1986 marked a significant step toward economic autonomy for the island.

Currency	Years in Circulation
Dutch Guilder	1940 - 1986
Venezuelan Bolívar	1940 - 1986
Antillean Guilder	1954 - 1986
Aruban Florin	1986 - Present

Where to Exchange Currency

Aruba has a well-developed financial system, making it easy to exchange currency. You can兑换 at banks, currency exchange bureaus, and most major hotels. It is recommended to exchange your currency before arriving in Aruba to avoid unfavorable exchange rates at the airport.

Location	Exchange Rate	Convenience
Banks	Best rates	Limited hours
Currency Exchange Bureaus	Convenient	Higher rates
Hotels	Easy access	May charge a fee

Tips for Managing Your Finances

Use ATMs: Withdraw cash from ATMs using your debit or credit card. Ensure your bank allows international withdrawals.

Pay by Credit Card: Credit cards are widely accepted in Aruba. However, check with your card issuer to avoid foreign transaction fees.

Carry Small Denominations: Have a mix of banknotes and coins to avoid carrying large sums of money.

Be Aware of Exchange Rates: Monitor currency rates before exchanging and compare rates at different locations.

Use a Currency Converter App: Utilize a mobile app to easily convert between Aruban Florin and other currencies.

Success Stories

Increased Tourist Revenue: The stable currency and peg to the US dollar have contributed to Aruba's growing tourism industry, attracting visitors from various countries.

Improved Business Environment: The Aruban Florin's stability has fostered economic growth and encouraged foreign investment in various sectors.

Enhanced Economic Autonomy: The introduction of the Aruban Florin provided Aruba with greater control over its monetary policy and reduced dependence on neighboring economies.

Conclusion

Understanding what currency is in Aruba is vital for a successful trip or business venture on the island. The Aruban Florin is a stable currency pegged to the US dollar, ensuring convenience for visitors and stability for businesses.

What Currency is in Aruba: A Comprehensive Guide for Travelers and Businesses