The Eastern Caribbean Central Bank is marking its 43rd anniversary by reviewing the currency union’s monetary stability and its 2026 initiatives on banknotes and consumer protection. The update highlights the EC dollar’s fixed exchange rate of EC$2.70 to USD 1 and reports foreign reserves of EC$5.9 billion in July 2026, equivalent to a 97.6% reserve backing ratio against the 60% statutory minimum. The central bank and the Monetary Council unveiled new EC banknote designs in July following public consultation, with the notes recognizing national heroes and regional figures. On Sept. 30, the bank launched the Office of Financial Conduct to strengthen financial consumer protection and promote financial literacy, awareness and access to basic financial services. These measures form part of the 2026-2031 strategic plan, which focuses on collective action for shared prosperity across the eight-member Eastern Caribbean Currency Union.
Eastern Caribbean Central Bank marks 43rd anniversary, highlights 97.6% reserve backing and consumer protection push
The Eastern Caribbean Central Bank marked its 43rd anniversary by highlighting monetary stability, including EC$5.9 billion in foreign reserves and a 97.6% reserve backing ratio in July 2026. It also reviewed the launch of the Office of Financial Conduct and new banknote designs under its 2026-2031 strategic plan.