Foreign exchange guide to Guyana and the Guyanaese dollar
What's in this Guyana currency guide?
The official currency of Guyana (country code: GY) is the Guyanaese dollar, with symbol G$ and currency code GYD.
Save money and time by Ordering your Guyanaese dollar online from Travelex, you get better rates and can pick up the GYD cash locally or even on travel day at the airport.
Another popular option is to use a Pre-paid Travel Card. Your Debit/Credit Card provider will charge you 2% from market mid-rate, but your bank may also charge an extra 3% as an “Overseas Transaction Charge” plus “Overseas ATM” fees for withdrawing cash.
For card purchases if offered a choice of currencies always select to Pay in Guyanaese dollar otherwise you may get much worst exchange rates.
Guyana is a country located on the northern coast of South America, bordered by Venezuela, Brazil, and Suriname. It is known for its natural beauty, diverse culture, and colonial history.
The country is home to a diverse array of wildlife, including primates, birds, and reptiles. Visitors can explore the country's natural beauty by visiting its many protected areas, including the Kanuku Mountains, the Iwokrama Forest Reserve, and the Shell Beach.
Guyana is also known for its rich culture, with a mix of indigenous, African, Indian, Chinese and European influences. Visitors can experience the local culture by visiting traditional villages, attending festivals, and experiencing the local music, dance, and cuisine.
The country has a colonial history, with the Dutch and later the British colonizing the region. Visitors can see the remains of the colonial era in the capital city of Georgetown, including the St George's Cathedral, and the Stabroek Market.
The economy of Guyana is based on agriculture, mining and forestry, but it is also developing as an oil-producing country. The official language is English, but many people also speak Creole, Hindi, and other languages.
Overall, Guyana is a country with a rich cultural heritage, diverse wildlife, and a colonial history. It is also developing as an oil-producing country, but it is still considered as a developing country with a fragile economy. It's a destination for travelers looking for an off-the-beaten-path destination with natural beauty, culture, and history.
While a lot of locals use bikes to get around Georgetown and a few other places in the country, it's not easy to recommend owing to safety issues caused by poor roads and dangerous driving. There is also nowhere to rent a bike.
Get Vaccinated: Before traveling to Guyana, check with your doctor to ensure that you are up-to-date on all recommended vaccinations. Some vaccinations that may be recommended include yellow fever, hepatitis A and B, and typhoid.
Research the Weather: Guyana has a tropical climate, with high temperatures and humidity throughout the year. Be prepared for the heat by bringing light, breathable clothing, and plenty of sunscreen.
Bring Cash: While credit cards are accepted in some places, cash is still the most widely accepted form of payment in Guyana. It's always a good idea to bring a mix of U.S dollars and Guyanese dollars with you when traveling.
Respect the Culture: Guyana is a culturally diverse country and it is important to be respectful of the customs and traditions of the people. This includes removing shoes before entering a temple or mosque and dressing modestly when visiting religious sites.
Be Prepared for Remote Locations: Guyana is a relatively underdeveloped country, and many areas are remote and lack basic amenities. Be prepared for this by bringing your own water and snacks, and by familiarizing yourself with the location of hospitals and other emergency services.
Learn Some Basic Phrases: While English is the official language, many people speak Creole and other languages. Learning a few basic phrases in the local languages can help you communicate more effectively with locals.
Stay Safe: As with any travel, it's important to be aware of your surroundings and take precautions to stay safe. This includes avoiding carrying large amounts of cash or expensive jewelry and staying away from political demonstrations or other potentially violent situations.
Get a Travel Insurance: It's always a good idea to get a travel insurance when traveling, especially to a developing country like Guyana. Make sure to check what is covered and what's not, and in case of emergency, contact the insurance company right away.
The domestic currency in Guyana is the Guyanaese dollar.
The three letter currency code for the Guyanaese dollar is GYD — symbol is G$.
It is the domestic currency in   Guyana.
No, the Guyanaese dollar is freely available and convertible. See guide: What is a closed currency?
|$ 1||G$ 209.28|
|$ 5||G$ 1,046|
|$ 10||G$ 2,093|
|$ 20||G$ 4,186|
|$ 50||G$ 10,464|
|$ 100||G$ 20,928|
|$ 250||G$ 52,320|
|$ 500||G$ 104,640|
|$ 1,000||G$ 209,280|
|$ 2,000||G$ 418,560|
|$ 5,000||G$ 1,046,400|
|$ 10,000||G$ 2,092,800|
|$ 20,000||G$ 4,185,600|
|$ 50,000||G$ 10,464,000|
|$ 100,000||G$ 20,928,000|
|$ 0.0048||G$ 1|
|$ 0.0239||G$ 5|
|$ 0.0478||G$ 10|
|$ 0.0956||G$ 20|
|$ 0.2389||G$ 50|
|$ 0.4778||G$ 100|
|$ 1.1945||G$ 250|
|$ 2.3890||G$ 500|
|$ 4.7780||G$ 1,000|
|$ 9.5560||G$ 2,000|
|$ 23.89||G$ 5,000|
|$ 47.78||G$ 10,000|
|$ 95.56||G$ 20,000|
|$ 238.90||G$ 50,000|
|$ 477.80||G$ 100,000|
To get a good (and fair) exchange rate when sending money to Guyana 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.
When sending money to Guyana 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 :
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 Guyanaese dollar deposited into the recipient bank account and less margins and fees kept by the banks!
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 Guyana.
Doing business in Guyana can be challenging, due to the country's underdeveloped infrastructure, relatively small market size, and lack of business-friendly regulations. However, there are also many opportunities for businesses that are willing to take on these challenges. Here are a few tips for doing business in Guyana:
Understand the Market: Before starting a business in Guyana, it's important to research the market to understand the needs and opportunities that exist. This includes researching the local economy, the competition, and the potential customers.
Build Relationships: Building strong relationships with local partners and government officials is essential for doing business in Guyana. This includes building relationships with local suppliers, distributors, and customers, as well as with government officials and regulators.
Be Prepared for Bureaucracy: The process of starting and operating a business in Guyana can be time-consuming and bureaucratic. Be prepared for this by having all the necessary documents and permits in order, and by being patient when dealing with government officials.
Invest in Infrastructure: Guyana's infrastructure is underdeveloped, and businesses may need to invest in their own infrastructure to be successful. This includes investing in transportation, communication, and energy infrastructure, as well as in the necessary equipment and technology.
Be Flexible: Doing business in Guyana can be unpredictable, and businesses need to be flexible in order to adapt to changing conditions. This includes being prepared to change strategies and plans as needed, and being open to new opportunities that may arise.
Look for Opportunities in Natural Resources: Guyana's main resources are in the mining and forestry sectors, but there are also opportunities in other sectors such as agriculture, fishing and aquaculture, manufacturing and in the service sector.
Be aware of the Political situation: Guyana has a history of political instability, which can impact the business environment. Keep yourself informed of the political situation and be prepared to adapt your business plans accordingly.
Get Professional Help: Starting and operating a business in Guyana can be challenging, and it can be helpful to seek the advice of a lawyer, accountant, or business consultant to help navigate the process.
Here we list some key points for expats and businesses to consider when managing financial dealings in Guyana:
Understand Guyanaese dollar currency exchange rates: Exchange rates can have a big impact on your finances, so it is important to keep an eye on the GYD 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.
Use a local Guyanaese dollar bank account: A local GYD bank account can make it easier for you to manage your finances and pay bills while you are in Guyana. It may also be more convenient to use a local GYD 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 Guyana. 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 Guyana. 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 Guyana, 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.