Currency in East Timor USD - Things to know
Foreign exchange guide to East Timor and 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.
Things to know about the US dollar
Here are a few things you may want to know about the U.S. dollar:
The U.S. dollar is the official currency of the United States and is used for all transactions within the country.
It is abbreviated as "USD": The U.S. dollar is abbreviated as "USD," and the symbol for the dollar is "$."
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.
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.
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:
East Timor: The U.S. dollar is the official currency of East Timor, a country located in Southeast Asia.
El Salvador: The U.S. dollar is the official currency of El Salvador, a country located in Central America.
Zimbabwe: The U.S. dollar is one of the official currencies of Zimbabwe, a country located in Southern Africa.
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.
The Marshall Islands: The U.S. dollar is the official currency of the Marshall Islands, a group of islands located in the Pacific Ocean.
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 $100.
The banknotes feature images of famous American historical figures, such as George Washington, Abraham Lincoln, and Benjamin Franklin. The design of the currency is constantly being updated, so the physical appearance of the coins and banknotes may vary slightly over time.
Travel money for East Timor
Save money and time by Ordering your US dollar online from Travelex, you get better rates and can pick up the USD cash locally or even on travel day at the airport.
Another popular option is to use a Pre-paid Travel Card. Your Debit/Credit Card provider will charge you 2% from market mid-rate, but your bank may also charge an extra 3% as an “Overseas Transaction Charge” plus “Overseas ATM” fees for withdrawing cash.
For card purchases if offered a choice of currencies always select to Pay in US dollar otherwise you may get much worst exchange rates.
Travel Ideas and Money Tips for East Timor
The Democratic Republic of Timor-Leste is commonly known as East Timor. One of the world’s newest countries (Timor-Leste became the first new sovereign state of the 21st century on 20 May 2002 when it achieved independence from Indonesia) its tourism industry is still in its infancy. With hardly-touched 'best-in-the-world' reefs to dive, dugongs to spot, mountains to climb, and ancient traditions that have survived the ravages of war, Asia’s newest country offers some of the world’s last great off-the-beaten-track adventures. However recent clashes between security services and groups challenging the government mean travel to much of the eastern side of the country is discouraged by both the Timor-Leste and Australian authorities.
What currency to use in East Timor?
The US dollar ($) is the legal tender in East Timor, all transactions are in dollars. Some Banks and ATMs can be found in Dili but not elsewhere, and Credit cards are mostly not usable so you should carry some local currency with you. East Timor centavo coins were introduced in East Timor in 2003 for use alongside United States Dollar banknotes and coins, which had been introduced in 2000 to replace the Indonesian rupiah following the commencement of U.N. administration. One centavo is equal to one US cent. The coins are in denominations of 1, 5, 10, 25 and 50 centavos and feature pictures of local plants and animals. East Timor does not yet issue its own banknotes.
How to travel in East Timor?
East Timor has a hot and humid climate (tropical). November to May is the wet season with the temperatures averaging 30ºC the year round, with temperatures far cooler in higher altitude areas. The wet season can damage the roads in East Timor, making travel difficult to remote district areas during this time. There is a direct bus service daily between Dili and Kupang in West Timor, Indonesia. Journey takes 12 hours.
There are many land travel minibus services to cater for individuals or groups travel from Dili to Kupang (West Timor) and return. Timor Travel, Paradise Travel, Leste Oeste Travel are few of the minibus companies that provide travel services to several different destinations along the Dili-Kupang route at a very affordable prices. Buses, mostly of the small variety found on remote Indonesian islands, run to most parts of the country and main cities like Dili, Baucau, Maliana, Los Palos and Suai are quite well linked. Indonesian-style bemos (vans) and mikrolets (minibuses) - legacies from its 24-year rule - run from these cities to nearby villages.
Ferry transport is available between Dili and Oecusse on the Nakroma ferry and Laju Laju car ferry. Compass Charters run daily water-taxi services to/from Ataúro; the Nakroma services Ataúro on Saturday, and the Laju Laju on Thursday. There are no trains in Timor-Leste.
USD/EUR Market Data
The below interactive chart displays the USD/EUR trend and UP▲ DOWN▼ HIGH▲ LOW▼ alerts
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?
Converted at EUR/USD interbank rate, compare Send Money and Currency Exchange exchange rates.
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!
