Country Guides East Timor Currency

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 is a good US dollar exchange rate?

The BestExchangeRates.com currency comparison table below helps you see the total cost of your currency transaction by showing the exchange rates offered by different providers. It also makes it easy to spot potential savings from market-leading FX services compared to bank rates.

To see a full list of rates, enter your transaction type, currencies and amount then click ‘GET RATES’:

Good 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.

For more USD information check out our selection of US dollar news and guides.

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.

 

 

East Timor: Travel Guide

Traveling to East Timor requires careful financial planning to ensure a smooth and cost-effective experience. Here's a comprehensive guide to help you navigate currency considerations and manage your money effectively during your visit.

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.

Everyday Costs in in East Timor

How much does it really cost to live, work, or travel in East Timor? Here's what to expect for daily expenses and expat living.

Currency Guide for Timor-Leste (ISO Code: TL)

Traveling to Timor-Leste can be an enriching experience, and for a one-week mid-range stay, it would be prudent to budget around $500 to $700 in local currency (United States Dollars are widely accepted, but the official currency is the Timorese centavo). Here’s a breakdown of typical daily expenses you might encounter:

• 🍽️ Meal at a local restaurant: $5

• ☕ Coffee: $1.50

• 🚌 Public transport fare: $0.50

• 📶 Prepaid SIM card: $10

• 🏨 Budget hotel or Airbnb: $30 per night

Overall, Timor-Leste presents an affordable option for travelers, leaning towards the cheaper side compared to visiting the United States or the UK. For instance, a similar stay in the US might cost twice as much due to higher meal and accommodation prices. Compared to the UK, where dining out and public transportation often come at a premium, Timor-Leste offers a more economical alternative for adventurers seeking authentic experiences without breaking the bank.

Expats Living in Timor-Leste

For expats settling in Timor-Leste, the typical monthly living costs can range from $800 to $1,200, depending on lifestyle choices. This budget would cover rent, utilities, groceries, and occasional dining. It’s essential to keep in mind that utility costs may vary, and sourcing international goods can be pricier. In terms of banking, local ATMs are available, but they may not always dispense cash, so having a backup plan is advisable. It’s wise to use credit or debit cards that don’t charge foreign transaction fees for most purchases.

When it comes to sending and receiving money, online transfer services like Wise or OFX often offer better rates and lower fees compared to local currency exchanges. While the local markets can provide competitive rates, they can fluctuate, making digital services a reliable choice for expats looking to handle finances seamlessly while residing in Timor-Leste.