The Western Samoan Monetary Unit, also known as the WST, is the official currency of Samoa, a country located in the South Pacific Ocean. It was introduced in 1967, replacing the previous currency, the pound.
The Western Samoan Monetary Unit is subdivided into 100 sene. The currency is issued and regulated by the Central Bank of Samoa, which is responsible for ensuring the stability and integrity of the monetary system. The bank is also responsible for setting official exchange rates.
The Western Samoan Monetary Unit is denoted by the currency symbol "WS$", distinguishing it from currencies of other countries that may also use the dollar symbol. The banknotes of the currency are printed in different denominations including 2, 5, 10, 20, and 50 tala, while coins are available in denominations of 10, 20, 50 sene and 1 and 2 tala.
The value of the Western Samoan Monetary Unit fluctuates based on various economic factors such as inflation, trade, and interest rates. The currency plays a crucial role in facilitating domestic and international trade transactions within Samoa.
The Western Samoan Monetary Unit is widely accepted for goods and services throughout Samoa. However, due to its limited circulation outside the country, it may not be readily exchangeable in other international markets. Travelers visiting Samoa are advised to carry local currency or have access to reliable currency exchange services.
