The florin (sign: Afl.;[citation needed]code: AWG) is the currency of Aruba. It is subdivided into 100 cents. The florin was introduced in 1986, replacing the Netherlands Antillean guilder at par.
The florin was introduced in 1986, replacing the Netherlands Antillean guilder at par. The currency has maintained the peg inherited from the gulden of 1.78 florin per 1 US dollar. Due to this fact, and also because of a growing amount of American tourism, US dollars are often used as the de facto currency instead of Aruban florins at many businesses, especially in the hotel & resort areas of the island.
In 1986, coins were introduced in denominations of 5, 10, 25 and 50 cents, 1 and 2½ florin. Later on the 5 florin note was replaced by a square coin and the 2½ coin was discontinued. The 5 florin was later on in 2005 replaced with a round golden coin. All coins are struck in nickel-bonded steel with exception of the 5 florin which is a combination of copper and other metals. The 50 cent is the only square-shaped coin remaining, also known as "yotin".[citation needed]