Anguilla is a British settlement scattered in the Eastern Caribbean. This British Overseas Territory consists of one main island and some islets lying in the north of the Leeward Islands and Saint Martin, northwest of Saint Kitts, and the east of Puerto Rico and the Virgin Islands. Anguilla possesses long stretches of sandy beaches and pristine waters, making the state a famous tourist destination. Anguilla takes its name from the Italian term for eel “anguilla” because of the island’s snake-like shape.
The economy of Anguilla is heavily dependent on luxury tourism along with lobster fishing, offshore banking, and remittances. Activities in the tourism industry have brought about the development of the construction sector that contributes to the progress of the economy. Additionally, the tourism industry has commenced the development of transportation systems. Anguilla has also invested in the enhancement of the growing offshore financial sector.
As part of the Organization of Eastern Caribbean States, Anguilla uses the Eastern Caribbean dollar as its legal tender. The Eastern Caribbean dollar was introduced in 1965, replacing the British West Indies dollar. The currency is fractioned into 100 cents and has been linked to the USD since 1976.
The first banknotes were introduced by the Eastern Caribbean Currency Authority in 1965 in 1, 5, 20, and 100 dollar denominations. On the obverse of these paper bills is Pietro Annigoni’s 1956 portrait of Her Majesty Queen Elizabeth II wearing the regalia of the Order of the Garter. In 1983, another set of notes was released. Notes issued by Anguilla bear the country’s designated code “U” in a circle and with the suffix V.
In celebration of the bank’s 10th anniversary, a new family of notes was introduced, bearing the new Eastern Caribbean Central Bank headquarters building at Bird Rock in Saint Kitts. The country code of these notes is in machine-readable bar code, with 5 bars assigned for Anguilla-issued notes. In 2019, the bank introduced notes on a polymer substrate and are in a vertical orientation.