South East Asian Trips

East Timor is a country located in Southeast Asia. The currency of East Timor is US Dollar as per the declaration of UN Transitional Administration in East Timor in the year 2000. Ever since the East Timor currency has been US Dollar.

It was declared in the year 2000 that the East Timor currency will be US Dollar. This decision was taken by UN Transitional Administration in East Timor. This was before the independence of East Timor in the year 2002 from the rule of Indonesia. The rule of UNTAET was enforced in East Timor at that time. National Resistance Council of East Timor NRCT had its representatives in the meeting when the unanimous decision of East Timor currency was taken.

East Timor largely depends on funds of International Mutual Fund, investments and aids by foreign countries. The decision of keeping US Dollar as East Timor currency was a pragmatic decision so as to simplify the foreign transactions. But in other aspects it has raised the cost of living of poor people living in East Timor for the value of US Dollar is high.

Buy

The two major things to carry home from Timor-Leste are coffee and customary hand-woven cloths called Tais. The design of the Tais varies particularly from region to region, and an expert can even tell which family they are from. Much like Scottish kilts, Tais for a given family should only be worn by that family. In Dili, the best place to find Tais is the Tais market, where you also can purchase local silver jewelry. Many street sellers also deal in Tais. Currency: US Dollars are the legal tender currency in East Timor and all business is in dollars. Banks and a few ATMs can be found in Dili. East Timor issued coins denominated in centavos and is not the same size as U.S coinage; however U.S. coins are broadly received.