Barbados Currency and Money

The currency of Barbados is the Barbadian dollar (BBD). Robust, stable, and secure, the Barbados dollar has been pegged to the US dollar at 1.98 to 1 since 1975.

A British colony, Barbados, was strongly influenced by British coinage and monetary policy. Nevertheless, Spanish and Mexican currency was widely circulated in former times.

1949 rang in the introduction of the British West Indies dollar officially linking Barbados with the British Eastern Caribbean territories later replaced by the East Caribbean dollar (1965).

The Barbados dollar – created after the establishment of the Central Bank of Barbados (CBB) – replaced the East Caribbean dollar in 1973 and is still used today.

The currency of Barbados is the Barbadian dollar (BBD) which is divided into one hundred cents. There is also a 1 dollar coin. Coinage is available in 5, 10, and 25 cent pieces.

As of May 7, 2014, the Central Bank of Barbados has not issued any 1-cent coins into circulation. At the time of the announcement, the coin was costing five times its face value in production costs, according to the bank.

The coin, which has a face value equivalent to half of a U.S. cent, remains legal tender and may be used in commerce. By law, total cash payments at businesses across the country are being rounded to the nearest 5-cent increment. Non-cash payments are not affected.

Most Barbadian coins are struck at the Royal Canadian Mint.

The 1 cent coin is struck in copper-plated zinc and features a replica of a broken trident; 5 cent pieces, struck in brass, display an image of the South Point Lighthouse while 10, 25 cents, and 1 dollar coins are struck in cupro-nickel featuring a tern, the Morgan Lewis Windmill and a flying fish respectively.

The reverse side of each coin displays the Barbados Coat of Arms and the year the coin was minted.

Banknotes come in colorful denominations of 2, 5, 10, 20, 50, and 100 dollar notes. Easily identifiable, each note features the portrait of a prominent Barbadian figure:

— The 2 dollar bill is dedicated to John Redman Bowell
Sir Frank Worrell appears on 5 dollar notes
— The image of Charles Duncan O’Neal is portrayed on 10 dollar bills.
— On 20 dollar bills you will find the image of Samuel Jackman Prescod
 Errol Walton Barrow on 50 dollar notes
— While Sir Grantley Adams image is captured on the 100 dollar bill.

Two ($2) Barbados Dollars

Two ($2) Barbados Dollars

Five ($5) Barbados Dollars

Five ($5) Barbados Dollars

Ten ($10) Barbados Dollars

Ten ($10) Barbados Dollars

Twenty ($20) Barbados Dollars

Twenty ($20) Barbados Dollars

Fifty ($50) Barbados Dollars

Fifty ($50) Barbados Dollars

One Hundred ($100) Barbados Dollars

One Hundred ($100) Barbados Dollars

For international travelers visiting Barbados, American currency is generally accepted at a one-for-two Barbados’ dollar value island-wide.

Traveler’s checks and major credit cards, including Master Card, Visa, American Express, and Diners Club are widely accepted by larger stores, restaurants, and hotels.

International debit cards may be used at most Automatic Teller Machines (ATMs) to withdraw local currency. ATMs are found at commercial banks, shopping malls, major hotels, and tourist hubs.

There are six commercial banks in the country with branches in Bridgetown and the most significant town centers:

— Barbados National Bank (BNB)
— Butterfield Bank
— First Caribbean International Bank
— Bank of Nova Scotia
— RBTT Barbados
— RBC Royal Bank of Canada.

Banks are generally open between 8 am to 3 pm Monday to Thursday, and 8 am to 5 pm on Fridays.

Regulations are imposed when purchasing Barbados currency. Individuals are granted a yearly allowance of BDS $7,500.

Businesspersons allowed up to BDS $50,000 per year.

Requests for any further foreign exchange must be made directly to the Central Bank of Barbados (CBB) through an official application found on the CBB website or available at all banks nationwide.

Foreign Exchange

As of September 21st, 2009, the approximate exchange rates (from the Central Bank of Barbados) are as follows:

By: Brett Callaghan

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About Totally Barbados (Edit profile)

Brett Callaghan is the founder and managing director of Totally Barbados. I specialize in writing content for the tourism industry for my island home of Barbados. I help companies build strategies to grow their businesses online with SMART marketing, advertising, and social media goals.