Pronunciation: [tjuːvˈɑːljuː dˈɒlə] (IPA) 
The correct spelling of the currency used in Tuvalu is "Tuvalu Dollar". In IPA phonetic transcription, it is pronounced as /tuːvɑːluː dɒlər/, which indicates a long "u" sound in "Tuvalu" and a soft "a" sound in "dollar". The Tuvalu Dollar is denoted by the symbol "$" and it is equivalent to the Australian Dollar. It is primarily used for trading purposes in Tuvalu and is not recognized as a global currency.
The Tuvalu Dollar is the official currency of Tuvalu, a small island nation located in the Pacific Ocean. It is abbreviated as TVD or T$. The Tuvalu Dollar is issued by the Tuvalu National Bank, the central bank of the country. It was introduced in 1976, replacing the Australian Dollar as the official currency.
The Tuvalu Dollar is a decimal currency, divided into 100 cents. Coins in circulation are available in denominations of 1, 2, 5, 10, 20, and 50 cents, while banknotes are issued in denominations of 1, 2, 5, 10, 20, and 50 dollars.
The value of the Tuvalu Dollar is pegged to the Australian Dollar at a 1:1 exchange rate, meaning that they have equal value. The decision to peg the currency to the Australian Dollar was made to maintain stability and aid in trade between the two countries.
The Tuvalu Dollar is primarily used for domestic transactions within Tuvalu, as well as limited international trade. Due to its small population and isolated geography, the Tuvalu Dollar is not widely recognized or accepted outside of the country. However, the Australian Dollar is also commonly accepted as a medium of exchange in Tuvalu.
Overall, the Tuvalu Dollar serves as the official currency of Tuvalu, facilitating economic activities and transactions within the nation's borders.
The word "Tuvalu" comes from the native language of the Tuvaluan people, which is a Polynesian language. It is believed to be derived from the word "Tuvalu" itself, meaning "eight standing together" or "eight islands" in Tuvaluan.
The term "dollar" in "Tuvalu Dollar" refers to the currency unit used in Tuvalu. The word "dollar" has its roots in the German word "Thaler", which was a silver coin widely used in Europe in the 16th century. The Thaler was often abbreviated as "T" to represent its value. Over time, "Thaler" evolved into "dollar" and became a widely used currency name across different countries, including Tuvalu.
