The vatu (abbreviation: VT; ISO code: VUV) is the currency of Vanuatu. The vatu has no subdivisions. Etymology The term vatu, used in all three official languages of Vanuatu, was borrowed from the word for "stone" in some indigenous languages (such as Raga vatu). Ultimately, it descends from Proto-Oceanic *patu, from Proto-Malayo-Polynesian and Proto-Austronesian *batu of the same meaning. Exchange rate History The vatu was introduced in 1981, one year after independence, to replace the New Hebrides franc at par. The vatu was issued as a single unit with no subdivision, with the 1 vatu coin being the smallest denomination issued, in a similar vein to the (post-1953) Japanese yen and the Tajikistani rouble (although that had an official if theoretical, subdivision). The ISO 4217 currency code for the Vanuatu vatu is VUV. Its nationally recognized symbol Vt is the most often used in written format. The vatu's introduction also saw the end of the official circulation of the Australian dollar in Vanuatu. Coins Vanuatu's first post-colonial coin was a 50 vatu coin introduced in 1981 and commemorated independence. It was struck in cupro-nickel like previous issues and was released into circulation, though originally its release was targeted more towards collectors. Shortly thereafter, in 1983, 1-, 2-, and 5, vatu coins were released in aluminium bronze and 10-, 20-, and 50-vatu coins were introduced in cupro-nickel, replacing the coinage of the New Hebrides Franc as the new circulation currency. This also replaced the Australian currency that was circulating in the British controlled islands. All Vanuatu coins depict the Vanuatu coat of arms, consisting of a native warrior in front of a whorled pig's tusk, a traditional item of value. The reverses depict other traditional items of value. Due to Vanuatu's French colonial history, the current vatu coins have the same size and coloration of the coins of New Hebrides which are based in part on French units, particularly the 1-, 2-, and 5 vatu in their similarity in size and composition to the 5, 10, and 20 centimes of the old French Franc. The 10-, 20-, and 50 vatu bear some similarities to Australian coins but are actually slightly larger with closer approximate size to coins of similar valuation to those in New Caledonia, and French Polynesia. In 1988, a nickel-brass 100 vatu coin was introduced, this coin replaced the 100 vatu note. The coin is of the same size