Currency in Barbados
A practical currency and money guide to travel, living and doing business in Barbados and the Barbadian dollar (BBD).
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.
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.
Travel Ideas and Money Tips for Barbados
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.
Expat Money & Business Guide to 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.
By following these tips and 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.
Managing your finances in Barbados
Here we list some key points for expats and businesses to consider when managing financial dealings in Barbados:
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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 currency exchange service or a credit card that does not charge foreign transaction fees to get the best exchange rate.
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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.
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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.
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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.
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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.
BBD/USD – Market Data
The exchange rate of Barbadian dollar (BBD), or the amount of BBD that can be exchanged for a foreign currency, can fluctuate rapidly based on a number of factors, including economic conditions, interest rates, and political events. Below you can check the latest BBD/USD rate plus recent trend, chart, and historic rates.
| Date | BBD/USD | Period |
|---|---|---|
06 Mar 2023 | 0.5000 | 2 Week |
20 Dec 2022 | 0.5000 | 3 Month |
20 Mar 2022 | 0.5000 | 1 Year |
21 Mar 2018 | 0.5000 | 5 Year |
22 Mar 2013 | 0.5000 | 10 Year |
25 Mar 2003 | 0.5000 | 20 Year |
Compare Barbadian dollar Exchange Rates & Fees
The below comparison table makes it easy to find the best exchange rates and lowest fees when you want to make an International Money Transfer to Barbados or planning a trip or maybe living there, so will need to exchange and spend Barbadian dollar.
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It is important to note that the exchange rate of the Barbadian dollar can change rapidly and that past performance is not necessarily indicative of future performance. It is advisable to carefully consider the risks and factors that may affect BBD exchange rates before making any financial decisions.
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