Barbados is a beautiful island in the Eastern Caribbean.
It is well known around the world as the birth place of international superstar and entrepreneur, Rihanna as well as its national dish cou cou and flying fish. Locals refer to themselves as Bajans.
The island is a Republic meaning that it has its own President as its head of state.
If you are looking forward to visiting the beaches and shopping in this beautiful Caribbean island, you may be wondering what currency is best for Barbados.
The best currency to use in Barbados is the Barbadian Dollar. The US Dollar is readily accepted by most businesses on the island. US coins are rejected. If you are planning on using US Dollar, it is best to carry smaller denominations. Change is usually given in the local Barbadian Dollar.
What Is The Official Currency of St Barbados
The official currency of Barbados is the Barbadian dollar. One dollar is divided into 100 cents. Bank notes are available in 2, 5, 10, 20, 50 and 100 bills.
Coins are available in 1, 5, 10, 25 cents pieces as well as $1. The symbol Bds$ which is commonly used but the ISO code is BBD.
The USD $1 is equivalent to BBD$2 and is also pegged to the US Dollar. The Barbadian currency is managed and issued by its own local central bank.
Do I need cash in Barbados?
Cash is essential for doing business in Barbados especially when dealing with street vendors and small businesses.
Most of the larger businesses on the island and those that cater to visitors accept credit and debit cards. This includes restaurants, casinos, beach bars, retail stores and supermarkets.
Can you use US dollars in Barbados?
US dollars are widely accepted throughout the island of Barbados. However, US coins are usually rejected.
Change is usually given in Barbadian dollars. Bank notes that are worn, torn, damaged or impaired are usually rejected.
As with every other Caribbean country, at times a business may be skeptical to accept larger currencies such as USD$100 bills but the smaller denominations are easy to spend around the island.
Can you use Canadian dollars in Barbados?
On a whole, businesses on the island will not accept Canadian dollars.
The best way to spend Canadian dollars on the island is to visit the bank and convert it to the local currency.
The exchange rate of the Canadian dollar to the Barbadian dollar fluctuates daily and this is one reason why businesses avoid these transactions.
Some of the main commercial banks on the island are Barbados National Bank (BNB) and First Caribbean International Bank (FCIB).
Can you use British Pound Sterling dollars in Barbados?
Occasionally, retail businesses on the island will accept Pound Sterling despite the fact that it fluctuates daily against the Barbadian dollar.
Generally, the UK is the largest source market for international visitors to the island. Nevertheless, the Pound Sterling is not as widely accepted as the US dollars on the island.
Can you use Euro dollars in Barbados?
Euros are not accepted by retail businesses on the island. Along the same line as the British Pound Sterling and the Canadian dollar, the exchange rate fluctuates daily against the Barbadian dollar.
Persons are usually referred to a commercial bank to have their notes converted.
Can you use a debit card in Barbados?
Debit cards can be used easily around the island. ATMs dispense local Barbadian dollars.
Kindly note that there is usually a fee that is charged by your bank for each transaction. There are ATM machines all over the island with 24 hour access.
General Tips To Remember In Barbados
- Luxury shopping with international brands is available at Limegrove Lifestyle Centre such as Gucci, Cartier and TAG Heuer.
- The island became a Republic on November 30th, 2021.
- Bridgetown and its Garrison have been designated as a UNESCO Heritage site due to its excellent architecture.
- Harrison cave is a unique spot on the island where you can enjoy a tour inside where you can see stalactite and stalagmite formation
- Oistins Beach and Miami Beach are well loved by visitors to the island
- Some hotels usually provide some currency conversion at their front desk area. Kindly note that the rate may not be as favorable as a commercial bank.
- Ensure and notify your banks prior to traveling to prevent credit cards from being blocked as you begin using it on the island.
- ATM machines are located in the departure hall and after customs and security checkpoint. Only Barbadian dollars are dispensed. Mastercard, Visa, Discover and American Express cards are accepted.
On a whole, the best currency to use in Barbados is the official currency the Barbadian Dollar. The US Dollar is readily accepted by businesses on the island. Credit and debit cards are widely accepted by restaurants, beach bars, hotels and large supermarkets. ATMs are available at the airport.
Need More Information?
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