The florin was introduced in 1986, replacing the Netherlands Antillean guilder at par. The currency has maintained the peg inherited from the gulden of 1.79 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 and resort areas of the island.
In 1986, coins were introduced in denominations of 5, 10, 25 and 50 cents, 1 and 2½ florin. Later, 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 an alloy of copper and other metals. The 50 cent is the only square-shaped coin remaining, also known as "yotin".
The Centrale Bank van Aruba (Central Bank of Aruba) introduced banknotes in denominations of 5, 10, 25, 50 and 100 florin and dated January 1, 1986. In 1990, the bank issued the same denominations in a colorful new family of notes designed by Aruban artist Evelino Fingal. As director of the Archaeological Museum, Fingal found inspiration in old Indian paintings and pot shards. Fingal combined decorative motives found on pre-Columbian pottery with pictures of animals unique to the island. The 500-florin notes were introduced in 1993, with the 5-florin note replaced by a coin in 1995.
^"The International Organization for Standardization (ISO) uses the abbreviation 'AWG' as the currency code for Aruba. However, Aruban law uses the abbreviation 'Afl.' for the Aruban florin." Centrale Bank van Aruba, Glossary
^Linzmayer, Owen (26 April 2011). "Aruba". The Banknote Book (1st ed.). San Francisco. p. 7.