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The Commonwealth of Dominica which is fondly referred to as the Nature Island of the Caribbean is truly a unique destination.
Dominica is the largest of the Windward Islands and is located between the French Caribbean Islands of Martinique and Guadeloupe.
If you love the outdoors and considering a vacation in Dominica, you may be wondering what currency is ideal for your trip.
In this article, we explore what is the best currency you should carry for your visit to Dominica.
The best currency to use in Dominica is the Eastern Caribbean Dollar. The US Dollar is readily accepted by most businesses on the island. If you are planning on using US Dollar, it is advised to carry smaller denominations. Coins are rejected. Change is usually given in the local EC Dollar.
What Is The Official Currency of Dominica
The official currency of Dominica is the Eastern Caribbean Dollar. The symbol of the currency is represented as XCD.
Dominica, along with its Eastern Caribbean counterparts shares the same currency. The additionally seven islands whose currency is also the Eastern Caribbean Dollar is Grenada, St Vincent & The Grenadines, St Lucia, Antigua & Barbuda, St Kitts & Nevis, Montserrat and Anguilla.
There is a central bank that regulates all matters surrounding the currency in the island of St Kitts & Nevis.
The Eastern Caribbean currency has bank notes as well as coins. Bank notes are available in $5, $10, $20, $50 and $100 denominations.
Coins are available in 5 cents, 10 cents, 25 cents, $1 and $2 denominations. Coins in 1 cents and 2 cents pieces were recently discontinued.
The Eastern Caribbean Dollar has been pegged to the US (United States) dollar since July 7th, 1976 at a rate of USD $1 to XCD $2.70
Do you need cash in Dominica?
Cash is required for ease of doing business in Dominica. Generally, small businesses, vendors and taxi drivers do not have facilities to accept credit and debit card payments.
Therefore, for a seamless experience it is best to carry cash.
Can you use US dollars in Dominica?
US Dollars are generally accepted across the islands by both large and small businesses. Nevertheless, note that change is given in XCD dollars.
Smaller denominations of the USD$ is usually easier to spend rather than USD$100 notes.
Can you use Canadian dollars in Dominica?
Alternatively, Canadian dollars are not accepted on the island as the rate changes daily.
Commercial banks are usually issued daily exchange rates from the Eastern Caribbean Central Bank.
If you attempt to use Canadian dollars at local businesses, you will be referred to a commercial bank to have the notes converted.
Kindly note that you may be required to sign a source of funds declaration at the bank.
Can you use Euro dollars in Dominica?
Due to Dominica’s unique location between the French Overseas Territories of France, Euros are accepted in Dominica.
There is a lot of movement of people and also trade that takes place between Dominica, Martinique and Guadeloupe.
Ferry service is offered during the year at different times via L’ Express Des Isles between the French Caribbean and Dominica.
Additionally there is another ferry service called Val’s Ferry that offers service from Guadeloupe via Marie Galante to the northern end of the island called Portsmouth.
As a result, Euro is accepted throughout Dominica.
Can you use British Pound Sterling dollars in Dominica?
British Pound Sterling is not accepted by businesses on the island. This is due to the volatility of the Pound Sterling.
Businesses will generally refer you to a commercial bank to have your notes converted.
Banks only exchange bank notes and coins are rejected.
General Tips To Remember In Dominica
Credit and Debit Cards are generally accepted by large businesses such as supermarkets and hotels on the island.
You may be required to sign a source of funds declaration when converting from foreign currency to Eastern Caribbean Dollars at commercial banks.
There is a National Bank of Dominica ATM machine located at the Douglas-Charles airport. Kindly note that there may be limit on how much you can withdraw.
If you are relocating to the island, consider getting a bank letter which details your history with your home bank. This will be helpful if you want to open a bank account on island.
It is best to have two pieces of identification if you plan on doing business with a commercial bank. One may be sufficient. However, in certain instances two may be required.
Some hotels may offer foreign currency conversion services to their guests at front desk.
Final Thoughts
As a general rule, the best currency to use in Dominica is the Eastern Caribbean Dollar. US Dollar bills are readily accepted by businesses. Coins are rejected. For ease of use, travel with US Dollars of smaller denominations. Credit Cards and Debit Cards are easy to use at large businesses.
If you are contemplating traveling to Dominica or the rest of the Caribbean, cruising is an affordable option to consider. I have recently completed an informative course by cruise specialist, Emma Cruises which you should check out titled How To Cruise For Less.
This course provides detail tips and techniques on how to save money while cruising onboard, onshore as well as the importance of insurance. So if you if you are considering a cruise for your next Caribbean vacation, check out How To Cruise For Less.
Need More Information?
Feel free to browse our website for more content on the Dominica and the Caribbean by using the search bar located at the top of this page. The following are some of our articles which we believe may be suitable for you.
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Living In Dominica (Pros & Cons Fully Explained)
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