History
The Aruban florin was introduced in 1986, following Aruba's separation from the Netherlands Antilles. Before 1986, the Aruban guilder was the currency used in Aruba, which was pegged to the Netherlands Antillean guilder.
Coins
Aruban florin coins are available in denominations of 5, 10, 25, and 50 cents, and 1, 2½, and 5 florins. The 5 and 10-cent coins are made of copper-plated steel, while the 25 and 50-cent coins are made of nickel-plated steel. The 1-florin coin is made of a bronze alloy, while the 2½ and 5-florin coins are made of a silver alloy.
Banknotes
Aruban florin banknotes are available in denominations of 10, 25, 50, 100, 200, and 500 florins. The 10, 25, and 50-florin notes are made of polymer, while the 100, 200, and 500-florin notes are made of cotton paper.
Exchange Rate
The Aruban florin is pegged to the US dollar at a fixed rate of 1.79 florins to 1 US dollar. This peg has been in place since 1994.
Inflation
The inflation rate in Aruba is relatively low. In 2022, it was reported to be around 1.7%.
Foreign Exchange
Aruba is a popular tourist destination, and as a result, foreign currencies are widely accepted. The US dollar is the most widely accepted foreign currency in Aruba.
Purchasing Power
The purchasing power of the Aruban florin is relatively high compared to other Caribbean currencies. This means that goods and services in Aruba are generally more expensive than in other Caribbean countries.
