There are several synonyms for the Tuvaluan dollar, the official currency of Tuvalu. One synonym is simply "dollar." Another is the "Tuvalu dollar." Some people also refer to it as the "Tuvaluan pound." The Tuvalu government established the Tuvaluan dollar in 1976, and it is currently pegged to the Australian dollar. The currency is commonly used for daily transactions in the small island nation, which is located in the South Pacific. Exports of fish and coconut products drive the economy in Tuvalu, and the Tuvaluan dollar plays an important role in facilitating trade.