Money, Budget, and Shopping in Trinidad and Tobago

Money

Currency

Currency: Trinidad and Tobago dollar (100 cents).

Banknotes: 1, 5, 10, 20, 50 and 100 TT$.

Coins: 1, 5, 10, 25 and 50 cents + 1 TT$.

Exchange rate:

Exchange

You can exchange money on arrival at banks (often open weekdays from 8:00 AM to 2:00 PM or 5:00 PM on Fridays) or use ATMs, which are widely available on both islands.

Which currency to bring

While the official currency is the Trinidad and Tobago dollar, it’s often possible to pay in US dollars (though change is usually given in the local currency). In fact, for tourist services, prices are frequently listed in US dollars rather than Trinidadian dollars. Be sure to confirm the currency, as the difference is significant—1 US$ is roughly 7 TT$.

As for which currency to bring, simplicity is key. While euros are sometimes accepted (though not always at a good rate) or can be exchanged for Trinidad and Tobago dollars, it’s better to arrive with US dollars. The advantage is that even if you have leftover US dollars at the end of your trip, you’ll always have the opportunity to use or exchange them elsewhere.

Payment methods

Card payments, like US dollars, are widely accepted in the country. However, it’s a good idea to have some local currency on hand for small expenses if you’re staying for an extended period. Be mindful of bank fees if you make too many small purchases or withdrawals.

Returning home

The easiest option is to end your trip with mostly US dollars, which you can always use or exchange easily for another trip if you have any left over.

Budget

Compared to many other Caribbean destinations, Trinidad and Tobago is far from the most expensive. While the (very) touristy area in southwestern Tobago may require a larger budget, and prices rise during Carnival (February), you can still expect to spend around 45 € to 65 € per day per person (based on two people). To stay within this range, you’ll need to prioritize guesthouses, eat locally, and use local transportation. However, for more freedom, activities like diving, or enjoying Carnival, it’s best to budget a little extra.

What can be expensive

The Carnival period and, more broadly, the high season (early in the year).

What can be affordable

Family-run guesthouses.

Eating and traveling locally.

Price range

Budget double room: around $30 to $40 US.

Mid-range double room: at least $50 US.

Snacks, local restaurant meals: under $10 US, or even under $5 US for street food.

Tourist restaurant meals: around $10 to $15 US per meal.

Budget car rental: $40 to $50 US for a small model.

Bus or minibus fare: up to $3 US for a bus and $5 US for a maxi-taxi (shared minibus).

Urban taxi:

Bargaining and tipping

Tipping is customary: leave 10 to 15% of the bill at restaurants and 10% for taxi drivers.