Currency in Barbados: BBD Send & Spend FX Guide
Resources for Expats, Travelers, and Entrepreneurs Navigating Life and Trade in Barbados with the Barbadian dollar.
What's in this Barbados currency guide?
What currency is used in Barbados?
The official currency of Barbados (country code: BB) is the Barbadian dollar, with symbol B$ and currency code BBD.
What is a good Barbadian dollar exchange rate?
The BestExchangeRates.com currency comparison table below helps you see the total cost of your currency transaction by showing the exchange rates offered by different providers. It also makes it easy to spot potential savings from market-leading FX services compared to bank rates.
To see a full list of rates, enter your transaction type, currencies and amount then click ‘GET RATES’:
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Good things to know about the Barbadian dollar
The currency code "BBD" refers to the Barbadian dollar, which is the official currency of Barbados. It is represented by the symbol "$" and is abbreviated as BBD. The physical currency consists of coins and banknotes. The coins come in denominations of 1 cent, 5 cents, 10 cents, and 25 cents. The banknotes come in denominations of $1, $2, $5, $10, $20, $50, and $100. The banknotes feature images of famous Barbadian historical figures, such as Sir Grantley Adams and Errol Walton Barrow. The design of the currency is constantly being updated, so the physical appearance of the coins and banknotes may vary slightly over time.
For more BBD information check out our selection of Barbadian dollar news and guides.
Frequently Asked Questions
What currency should I use in Barbados?
The domestic currency in Barbados is the Barbadian dollar.
What is the Barbadian dollar currency code and symbol?
The three letter currency code for the Barbadian dollar is BBD — symbol is B$.
What does the Barbadian dollar look like?
Here is an example Barbadian dollar banknote:
Which countries use the Barbadian dollar?
It is the domestic currency in Barbados.
Is the Barbadian dollar a closed currency?
No, the Barbadian dollar is freely available and convertible. See guide: What is a closed currency?
What are equivalent amounts of USD and BBD?
Here are some popular conversion amounts for USD to BBD (US dollar to Barbadian dollar)*.
*Converted at the current USDBBD interbank exchange rate. Calculate actual payout amounts for Send Money and Travel Money exchange rates.
Travel money for Barbados
Using Wise for Barbadian dollar travel money is a smart choice for savvy travelers. With its competitive exchange rates and low fees, Wise allows you to convert and manage multiple currencies effortlessly.
Be careful when using your own bank's Debit/Credit Card, as your bank may also charge an extra 3% as an “Overseas Transaction Charge” plus “Overseas ATM” fees for withdrawing cash on top of the standard Visa/Mastercard 2.5% from market mid-rate.
For card purchases, if you are offered a choice of currencies always select to Pay in Barbadian dollar otherwise you will typically get much worst dynamic currency conversion (DCC) exchange rates.
If you really want Barbadian dollar cash before departure, you can save money by ordering online. You generally get better rates and can pick up the BBD cash locally or even on travel day at the airport.
Barbados: Travel Guide
Traveling to Barbados requires careful financial planning to ensure a smooth and cost-effective experience. Here's a comprehensive guide to help you navigate currency considerations and manage your money effectively during your visit.
Barbados is an island country located in the Caribbean Sea, east of the Windward Islands and the Caribbean Leeward Islands. It is the easternmost island in the West Indies and is located at the far eastern edge of the Caribbean Sea. The country has a population of about 287,000 people and is an independent nation within the Commonwealth of Nations.
Barbados is known for its beautiful beaches, warm climate, and vibrant culture. The island is home to a number of historic landmarks, including the George Washington House, the Barbados Museum, and the Barbados Wildlife Reserve. The capital city of Barbados is Bridgetown, which is located on the southwestern coast of the island.
The economy of Barbados is largely based on tourism, and the island is a popular destination for travelers from around the world. The country is also a major producer of sugarcane, and its economy includes a thriving service sector and a growing manufacturing industry. The official language of Barbados is English, and the country has a diverse population with a mix of African, European, and Asian influences.
Travel tips for Barbados
Pack light: Barbados has a warm and humid climate, so it is best to pack lightweight clothing and comfortable shoes. Be sure to bring sunscreen, insect repellent, and a hat to protect yourself from the sun.
Know the local laws: Barbados has strict laws, particularly regarding drug offenses. It is important to familiarize yourself with the local laws and respect them while you are visiting.
Use caution when driving: Driving in Barbados can be challenging, as the roads can be narrow and winding. It is a good idea to exercise caution when driving and to be aware of your surroundings.
Respect local customs: Barbados is a culturally diverse country, and it is important to respect local customs and traditions. This includes dressing modestly and being mindful of your behavior in public.
Stay safe: As with any destination, it is important to be aware of your surroundings and to take steps to protect your personal safety. Avoid walking alone at night and keep your valuables secure.
By following these tips, you can have a safe and enjoyable trip to Barbados.
Everyday Costs in in Barbados
How much does it really cost to live, work, or travel in Barbados? Here's what to expect for daily expenses and expat living.
Currency Guide to Barbados (ISO Code: BB)
For travelers planning a week-long mid-range visit to Barbados, budgeting appropriately can greatly enhance your experience. Expect to spend around BBD 4,500 to BBD 5,000 (approximately USD 2,200 to USD 2,500) to comfortably cover your needs without overspending. Here’s a quick look at typical daily expenses in Barbados:
- 🍽️ Meal at a local restaurant: BBD 30
- ☕ Coffee: BBD 10
- 🚍 Public transport fare: BBD 2
- 📱 Prepaid SIM card: BBD 50
- 🏨 Budget hotel or Airbnb: BBD 150
In comparison to the United States, where similar meals could cost around USD 15-20, Barbados tends to be slightly more expensive, particularly with dining out. In comparison to the UK, which has similar pricing for a meal and transport costs, Barbados might feel a touch pricier but offers an enchanting environment and culture that many find worth the splurge.
Expat Living in Barbados
For expats considering a long stay in Barbados, understanding the local economy is essential. Typical monthly living costs range from BBD 3,500 to BBD 4,500, depending on lifestyle choices. This includes rent for a modest apartment, grocery expenses, utilities, and leisure activities. When it comes to banking and card usage, it’s advisable to maintain a local bank account for daily transactions, as many establishments accept credit cards without issues. However, do be aware of foreign transaction fees if you’re using cards issued from abroad. Furthermore, online transfer services like Wise or OFX often offer better exchange rates and lower fees compared to exchanging money locally. Consider using these services for larger transactions or remittances, ensuring you make the most of your funds while enjoying your time in this beautiful Caribbean destination.
USD/BBD Market Data
The below interactive chart displays the USD/BBD change and UP📈 DOWN📉 trends over the past 1 Year.
Send Money to Barbados - Best Rates
To get a good (and fair) exchange rate when sending money to Barbados you need to find and compare exchange rates for International Money Transfers (IMTs).
The available FX rates for sending money abroad can be very different to the mid-market (wholesale) rate which you see reported online and in the News.
You should especially compare your own bank's exchange rates to those available from Money Transfer specialists to see how much you can save - we make that calculation easy in the below table.
Get a better deal for foreign transfers to Barbados
When sending money to Barbados 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 :
- Open an account with a BER reviewed FX provider (id docs may be required)
- You specify the local or Barbadian dollar amount you want to transfer
- Make a local currency domestic transfer for the requested amount to the provider's bank account in your country
- Once your funds are received by the provider the converted BBD amount will be transfered to the recipient account you specify in Barbados.
Use the above 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 Barbadian dollar deposited into the recipient bank account and less margins and fees kept by the banks!
Managing money while living and working in Barbados
Managing your money effectively while living and working abroad can be challenging, but there are several steps you can take to ensure that your finances are in order.
Understand Barbadian dollar currency exchange rates: Exchange rates can have a big impact on your finances, so it is important to keep an eye on the BBD exchange rate and consider using a money transfer specialist or a credit card that does not charge foreign transaction fees to get the best exchange rate.
Use a local Barbadian dollar bank account: A local BBD bank account can make it easier for you to manage your finances and pay bills while you are in Barbados. It may also be more convenient to use a local BBD bank account to make purchases and withdraw cash.
Research local laws and regulations: It is important to understand the local laws and regulations that apply to financial transactions in Barbados. This can help you avoid legal issues and ensure that you are complying with local requirements.
Consider the tax implications: It is important to understand the tax implications of living or doing business in Barbados. This can help you plan your finances and ensure that you are paying the correct amount of tax.
Seek financial advice: If you are unsure of how to manage your finances in Barbados, it is a good idea to seek the advice of a financial professional who is familiar with the local financial system. This can help you make informed decisions and avoid financial pitfalls.
We have put together some key points to help managing your money effectively, you can reduce financial stress and enjoy your experience living or doing business in Barbados.
How is the expat life in Barbados?
Expat life in Barbados can be enjoyable and rewarding for those who are able to adapt to life on the island. Barbados is a small, tropical island nation located in the Caribbean Sea, known for its beautiful beaches, friendly people, and warm climate.
One of the main draws of Barbados for expats is the high standard of living and good quality of life. The country has a developed infrastructure, with modern amenities and good healthcare and education systems. The cost of living in Barbados is relatively high compared to other countries in the region, but expats may find that the benefits of living on the island outweigh the higher costs.
Expats in Barbados may find it easy to integrate into local communities, as the country is known for its friendly and welcoming people. English is the official language of Barbados, so language is generally not a barrier for expats. However, expats may find it helpful to learn some basic phrases in Bajan, the local creole language, to show respect for the culture of the island.
Expats living in Barbados may find that the country's small size and limited job opportunities can be a challenge. Additionally, the country can be expensive, especially for those on a fixed income. However, for those who are able to adapt to life on the island, Barbados can be a wonderful place to live and work.