Currency in East Timor: USD Send & Spend FX Guide
Resources for Expats, Travelers, and Entrepreneurs Navigating Life and Trade in East Timor with the US dollar.
What's in this East Timor currency guide?
What currency is used in East Timor?
The official currency of East Timor (country code: TL) is the US dollar, with symbol $ and currency code USD.
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Frequently Asked Questions
What currency should I use in East Timor?
The domestic currency in East Timor is the US dollar.
What is the US dollar currency code and symbol?
The three letter currency code for the US dollar is USD — symbol is $.
Which countries use the US dollar?
It is the domestic currency in United States, East Timor, Ecuador, El Salvador, British Virgin Islands, US Virgin Islands, Caribbean Netherlands and Turks and Caicos Islands.
Is the US dollar a closed currency?
No, the US dollar is freely available and convertible. See guide: What is a closed currency?
What are equivalent amounts of EUR and USD?
Here are some popular conversion amounts for EUR to USD (Euro to US dollar)*.
*Converted at the current EURUSD interbank exchange rate. Calculate actual payout amounts for Send Money and Travel Money exchange rates.
Things to know about the US dollar
Here are a few things you may want to know about the U.S. dollar:
1. The U.S. dollar is the official currency of the United States and is used for all transactions within the country.
2. It is abbreviated as "USD": The U.S. dollar is abbreviated as "USD," and the symbol for the dollar is "$."
3. It is accepted worldwide: The U.S. dollar is a widely accepted currency and can be used for transactions in many countries around the world.
4. Its value fluctuates: The value of the U.S. dollar can fluctuate based on a variety of economic factors, such as interest rates, inflation, and the strength of the U.S. economy.
5. It is issued by the Federal Reserve: The U.S. dollar is issued by the Federal Reserve, which is responsible for managing the country's monetary policy. The Federal Reserve is a quasi-independent agency that is responsible for setting interest rates and regulating the money supply in the U.S.
The U.S. dollar is the official currency of several countries outside the United States, including:
1. East Timor: The U.S. dollar is the official currency of East Timor, a country located in Southeast Asia.
2. El Salvador: The U.S. dollar is the official currency of El Salvador, a country located in Central America.
3. Zimbabwe: The U.S. dollar is one of the official currencies of Zimbabwe, a country located in Southern Africa.
4. The British Virgin Islands: The U.S. dollar is the official currency of the British Virgin Islands, a group of islands located in the Caribbean Sea.
5. The Marshall Islands: The U.S. dollar is the official currency of the Marshall Islands, a group of islands located in the Pacific Ocean.
6. The Federated States of Micronesia: The U.S. dollar is the official currency of the Federated States of Micronesia, a country located in the Pacific Ocean.
The U.S. dollar banknotes and coins
The physical currency consists of coins and banknotes. The coins come in denominations of 1 cent (¢), 5 cents (nickel), 10 cents (dime), 25 cents (quarter), and 50 cents (half dollar). The banknotes come in denominations of $1, $2, $5, $10, $20, $50, and $100.
The banknotes feature images of famous American historical figures, such as George Washington, Abraham Lincoln, and Benjamin Franklin. The design of the currency is constantly being updated, so the physical appearance of the coins and banknotes may vary slightly over time.
Travel money for East Timor
Using Wise for US dollar travel money is a smart choice for savvy travelers. With its competitive exchange rates and low fees, Wise allows you to convert and manage multiple currencies effortlessly.
Be careful when using your own bank's Debit/Credit Card, as your bank may also charge an extra 3% as an “Overseas Transaction Charge” plus “Overseas ATM” fees for withdrawing cash on top of the standard Visa/Mastercard 2.5% from market mid-rate.
For card purchases, if you are offered a choice of currencies always select to Pay in US dollar otherwise you will typically get much worst dynamic currency conversion (DCC) exchange rates.
If you really want US dollar cash before departure, you can save money by ordering online. You generally get better rates and can pick up the USD cash locally or even on travel day at the airport.
The Democratic Republic of Timor-Leste, also known as East Timor, gained independence from Indonesia on 20 May 2002, making it the first new sovereign state of the 21st century. Despite its rich natural beauty and unique cultural heritage, including pristine reefs, dugongs, and ancient traditions, East Timor’s tourism industry remains in its early stages. Travel to parts of the eastern region is currently discouraged due to recent clashes between security forces and government opposition groups, as advised by both Timorese and Australian authorities.
Currency in East Timor
The official currency of East Timor is the US dollar (USD), and all transactions are conducted in dollars. While you can find some banks and ATMs in the capital city, Dili, access to financial services outside the city is limited, and credit cards are rarely accepted. It's essential to carry cash when traveling, especially in rural areas.
In addition to US coins and banknotes, East Timor has its own centavo coins, which were introduced in 2003 to be used alongside the US dollar. These coins come in denominations of 1, 5, 10, 25, and 50 centavos, with one centavo equivalent to one US cent. The coins feature local plants and animals, providing a unique local touch to the currency, but the country has yet to issue its own banknotes.
Traveling Around East Timor
East Timor has a tropical climate with hot and humid conditions year-round, and the wet season, which lasts from November to May, can make travel to rural areas challenging due to road conditions. Bus services operate between Dili and West Timor, Indonesia, with a direct daily bus to Kupang taking approximately 12 hours.
For domestic travel, minibuses, locally known as "bemos" and "mikrolets," serve routes between Dili and other main cities such as Baucau, Maliana, and Suai. Ferry services are also available between Dili and the enclave of Oecusse, as well as Ataúro Island, but the country does not have a railway system.
USD/EUR Market Data
The below interactive chart displays the USD/EUR change and UP📈 DOWN📉 trends over the past 1 Year.
Send Money to East Timor - Best Rates
To get a good (and fair) exchange rate when sending money to East Timor you need to find and compare exchange rates for International Money Transfers (IMTs).
The available FX rates for sending money abroad can be very different to the mid-market (wholesale) rate which you see reported online and in the News.
You should especially compare your own bank's exchange rates to those available from Money Transfer specialists to see how much you can save - we make that calculation easy in the below table.
Get a better deal for foreign transfers to East Timor
When sending money to East Timor it’s important to compare your bank’s rates & fees with those we have negotiated with our partner money transfer providers. To get a better deal you should follow these 4 simple steps :
- Open an account with a BER reviewed FX provider (id docs may be required)
- You specify the local or US dollar amount you want to transfer
- Make a local currency domestic transfer for the requested amount to the provider's bank account in your country
- Once your funds are received by the provider the converted USD amount will be transfered to the recipient account you specify in East Timor.
Use the above calculator to compare the exchange rates of FX specialist providers rates versus your bank's standard rates you can hopefully save around 5% and maybe more - end result is more US dollar deposited into the recipient bank account and less margins and fees kept by the banks!
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Further reading on the US dollar (USD) - Guides, Reviews & News from our research team.