The official currency used on the Caribbean islands of Trinidad and Tobago, is the aptly named Trinidad and Tobago dollar. It is often abbreviated to a straight, TT (standing, obviously for Trinidad and Tobago). Sometimes people may refer to things being in 'TT's so that an item may be 3 TT's etc. The pronunciation of the TT is quite literal, tee, tee, but it does take some getting used to!
Each dollar is further subdivided into 100 cents as per the standard dollar.
It is denoted by the use of the $.
Originally, the dollar was introduced in the year 1898, when it was used as well as the British Pound sterling. It was then placed on a par with the dollar known as the British West Indies dollar.
However, it was not until 1964 that the Trinidad and Tobago dollar (TT) became the sole currency, circulated as its own coins and notes and became the exclusive currency used on both of the islands.
Getting hold of TT dollars is quite straightforward. There are some ATM machines on the island, but they are not as plentiful as you may think, particularly on Tobago, where tourism is so actively encouraged. However, there are enough around, so that you should never be left short of funds. You should be able to use either your credit or your debit card in the ATM.
Although you should be able to use your card without any difficulty, it may be advisable to just notify your back before you travel, that it is going to be used. This means that they will not suspect that your card has been stolen, or that someone has cloned your card and has your PIN number. Banks do not always pick up on sudden activity abroad, but it does happen. If they have not been notified that it will be used abroad, then they may assume it is being used by a thief and accordingly, cancel the card: at which point life becomes very complicated for you if you are thousands of miles from home and cannot get access to money!
ATM machines cannot cope with any PIN number that is longer than 4 digits. Whilst most credit or debit cards do only have four digits, just in case yours has more than this, you really need to change it before you try to use it in Trinidad or Tobago.
You will also find that you are able to pay for quite a few things, with standard credit cards such as Mastercard. However, for smaller purchases, or purchases using cash, you will not be able to pay by card, so try and make sure that you have at least some cash on you, throughout your stay.
If you take cash with you, then you will be able to exchange this at banks or even exchange centres, which are fairly plentiful. The only downside to exchanging cash is that you are more or less guaranteed to get a much poorer exchange rate, than had you used an ATM.
Cash is cheaper to exchange if it is in US dollars or British Sterling, or you could get hit by having to pay again, to change it into one of these 'hard' currencies.
Obviously, travellers cheques can be taken if you do want to have a means of getting access to money that does give you a little added security: if you lose the cheques, or they are stolen, then as long as you have kept a record of the numbers and still retain proof of identity such as your passport, then you will be able to have the lost or stolen cheques cancelled and then new ones re-issued. This can take a couple of days, but at least you do get your money back. If you are particularly concerned about security, or you have a habit of losing things, then travelers cheques may be the best option for you. However, you do need to keep the record of your cheque numbers completely separate from the cheques. If you lose them both then you won't be able to cancel the cheques and more importantly, won't get your money back!
US dollars will be widely accepted and indeed some of the more 'informal' traders will often wish to take US dollars as payment, but they can also be used elsewhere throughout both islands. Sometimes a small amount of US dollars can come in handy as a kind of emergency supply, so it is best to take a few with you, if you have them. Usually, its better to take smaller denominations, otherwise, you may find that people find it difficult to find change and you end up paying way over the odds.
Sometimes rumours circulate that Trinidad and Tobago are quite unsafe for travelers and that there is a very real risk of people being kidnapped. However, the reality is that this is very rare and the kidnappings that have taken place (to date) have actually only involved locals: no foreign nationals have been subject to kidnapping.
Pickpockets do operate locally, so just be aware and careful, particularly if you visit when there is a carnival or festivities taking place.
Murders do happen, but these are nearly always related to inter-gang feuds, not towards any tourists. So the risk really is extremely low.
Overall, the level of crime is relatively low and much generally, much lower than people assume. Trinidad has slightly more crime than Tobago, but this is because it is more urban.
However, you should be quite safe and the only risk is really from pickpockets.
Both Trinidad and Tobago offer good value for money in terms of being not too expensive, although some of the areas near the most expensive and luxurious hotels can be quite expensive and there are some shops and facilities that are obviously designed for the well heeled (usually American), tourist. But it is possible to shop around and there are various things on offer to suit all budgets and ranges.
There is one issue that you need to think about when out and about on both of these islands and that is how items are priced. Often you will find that stall traders, particularly stall traders have a tendency to view tourists as a means of making easy money. This means that they will charge you considerably more than they would charge locals, for basic items. Some people attempt to haggle over this practice and ask for the price to be lowered. Others feel that it is simply par for the course and so they pay the money and accept the situation. If you try to charm some street vendors, then they may give you a discount. It may not always work, but it can be worth a chance.
Markets abound and you will find all kinds of places, shops and stalls, where a whole variety of items is for sale. On Tobago, there are even some quite exclusive shops, catering for the wealthy visitors, of whom Tobago gets more than its fair share (particularly when the Miss World contest is held here). So, whatever your budget, you will be able to shop and buy some souvenirs, which may be hand carved or made and some excellent local produce.
The islands of Trinidad and Tobago are quite different, with Trinidad being the biggest island of the two and it is the commercial centre for both of the islands. Due to the fact that Trinidad is able to produce both natural gas and petrol, both Trinidad and Tobago enjoy a relatively prosperous economy. Tobago is not quite as developed as Trinidad, but it is quite reliant on tourism as its main economy. This means that out of the two, Tobago is the more popular tourist destination. But both of the islands are beautiful, with quite abundant wildlife, a wonderful climate and of course a very laid back people.
Both islands enjoy a very rich and diverse cultural history, which makes them very diverse and multi-cultural today, with all kinds of people from all different races, who are mingled together and yet live in relative harmony. In particular, the high number of people who follow the Hindu faith, makes Tobago an interesting island to visit. Somehow you do not expect an island in the Caribbean to have a population of almost 25% who are Hindus. Historically, these islands have been home to peoples from all over the world and today the people who live here are a very eclectic mix.
Whilst on the islands there is obviously plenty to do, with an amazing range of wildlife and some stunning beaches to simply enjoy. English is widely spoken, as is a number of other languages, which helps make it feel just that little bit more special, than if it were purely one language and culture that you were experiencing.
The wonders of both Trinidad and Tobago are relatively well known. Both these islands are different enough that they can offer a slightly different aspect to a holiday, making it a really different destination, with lots of people from all over the world, not just Americans, who all come to experience the beauty of the beaches, the warmth of the sun, swimming in coral reefs or a whole multitude of different experiences. The people and their natural warmth, friendliness and unique take on the world, also help make this a truly fascinating place for everyone to visit.
They are, by their very nature, two places in the world, where it is very hard to feel rushed or is if there are pressures around. Both islands have undoubtedly changed since tourists started to flock in, but they have successfully retained their own identity and mix of diverse multi-culturalism, that basically puts the rest of the world to shame.
So, enjoy all that they have to offer and learn as well, about how people can actually live together and just enjoy and respect each other for who they are, rather than what religion they follow.