Livatu
Encyclopedia
The Livatu is a unit used by the Turaga indigenous movement
and the Tangbunia Bank
in Vanuatu
to reckon the worth of items of traditional currency such as pigs and textiles. One livatu is equivalent to one fully curved boar's tusk, a symbolic item of value in Vanuatu culture. Long dyed mats, a less valuable item of exchange, are worth up to a half a livatu.
According to Chief Viraleo, manager of the Tangbunia Bank, the value of 1 livatu is fixed at 18,000 vatu (approximately US$187 at the time of writing). This approximately reflects the price for which tusks sell in the markets of Port Vila
.
The Tangbunia Bank does not issue or deal in coins and notes, but only in traditional items. However, account holders at the bank can make transfers and write cheques in livatu.
Despite a series of high-profile meetings, the Reserve Bank of Vanuatu
has yet to give formal recognition to the livatu as a currency.
Turaga nation
The Turaga nation is an indigenous movement based in northern Pentecost Island, Vanuatu. Its leaders include Chief Viraleo Boborenvanua and Motarilavoa Hilda Lini...
and the Tangbunia Bank
Tangbunia Bank
The Tangbunia Bank is a bank run by the Turaga indigenous movement on Pentecost Island in Vanuatu. It is notable for dealing in items of customary wealth such as hand-woven mats, shells or pig tusks rather than Western currency...
in Vanuatu
Vanuatu
Vanuatu , officially the Republic of Vanuatu , is an island nation located in the South Pacific Ocean. The archipelago, which is of volcanic origin, is some east of northern Australia, northeast of New Caledonia, west of Fiji, and southeast of the Solomon Islands, near New Guinea.Vanuatu was...
to reckon the worth of items of traditional currency such as pigs and textiles. One livatu is equivalent to one fully curved boar's tusk, a symbolic item of value in Vanuatu culture. Long dyed mats, a less valuable item of exchange, are worth up to a half a livatu.
According to Chief Viraleo, manager of the Tangbunia Bank, the value of 1 livatu is fixed at 18,000 vatu (approximately US$187 at the time of writing). This approximately reflects the price for which tusks sell in the markets of Port Vila
Port Vila
Port Vila is the capital and largest city of Vanuatu. Situated on the south coast of the island of Efate, in Shefa Province, the city population at last was 29,356, an increase of 55% on the previous census result . This suggests a 2007 population of about 40,000 or around 65% of the province's...
.
The Tangbunia Bank does not issue or deal in coins and notes, but only in traditional items. However, account holders at the bank can make transfers and write cheques in livatu.
Despite a series of high-profile meetings, the Reserve Bank of Vanuatu
Reserve Bank of Vanuatu
-External links:*...
has yet to give formal recognition to the livatu as a currency.