Bahamas - Bahamian Dollar - Currency Guide

BSD News, Forecasts and Trends

The below interactive chart shows the USD to BSD exchange rate, trend and recent alerts for the last 90 days.

U$1,000 USD
=
B$1,000 BSD

Converted at USD/BSD wholesale exchange rate, compare foreign transfer and spend/travel exchange rates.

Travel, Currency and Money saving tips for Bahamas

Like most islands in the Caribbean, the Bahamas are an expensive destination. The Bahamian dollar and the US dollar are both accepted throughout the islands. Banking hours are Monday through Thursday, 9:30 a.m. to 3:00 p.m., and Friday from 9:30 a.m. to 4:30 p.m. In Nassau/Paradise Island there are ATMs at both Paradise Island and Cable Beach casinos, and commercial banks. In Grand Bahama, they can be found at major banks, the casino and Port Lucaya and on The Out Islands, ATMs are at banks on all of the major islands.

Nassau and Freeport Have dozens of jitneys (private minibuses) licensed to operate on pre established routes. Out Islands There’s not much public transportation as Taxi is the main means of getting around cities in the Bahamas. Renting a bike can be a good alternative. Tickets to the more expensive nightclubs can often be bought at a huge discount from hotels and taxi drivers.

For more travel tips and ideas on ways to save money when traveling in the Bahamas read our Bahamas Travel guide

Travel money for Bahamas

As mentioned above, the Bahamian Dollar is a closed currency. Which means that you may find it difficult (or be permitted) to purchase the currency (BSD) before departure and will need to buy it upon arrival in Bahamas.

For these types of destinations, using a pre-paid travel card is a good solution. As no travel cards support loading closed currencies like the BSD you will incur currency conversion or foreign transaction fees if you use a travel money card in Bahamas.

However, using a pre-paid travel card is still a good idea as you can avoid ATM fees and also you can avoid using (and losing!) your main bank or debit/credit card.

Sending money to Bahamas

When searching around for information on how to get a good exchange rate when sending money to Bahamas you need to start with finding out the latest Bahamian Dollar exchange rate for foreign-transfers, which can be very different to the wholesale rate.

Then compare your bank's exchange rates to several licensed FX providers exchange rate and fees to see how much you can save - we make that calculation easy in the below table.

Get a better deal for foreign transfers to Bahamas

When sending money to Bahamas it’s important to compare your bank’s rates & fees with those we have negotiated with our partner money transfer providers. To get a better deal you should follow these 4 simple steps :

1. Open an account with a BER reviewed FX provider (id docs may be required)
2. You specify the local or Bahamian Dollar amount you want to transfer
3. Make a local currency domestic transfer for the requested amount to the provider's bank account in your country
4. Once your funds are received by the provider the converted BSD amount will be transfered to the recipient account you specify in Bahamas.

Use the above Send to Bahamian Dollars calculator to compare the exchange rates of FX specialist providers rates versus your bank's standard rates you can hopefully save around 5% and maybe more - end result is more Bahamian Dollars deposited into the recipient bank account and less margins and fees kept by the banks!