Currency in Solomon Islands: SBD Send & Spend FX Guide
Resources for Expats, Travelers and Entrepreneurs Navigating Life and Trade in the Solomon Islands with the Solomon Islands dollar.
What's in this Solomon Islands currency guide?
What currency is used in the Solomon Islands?
The official currency of the Solomon Islands (country code: SB) is the Solomon Islands dollar, with symbol S$ and currency code SBD.
What is a good Solomon Islands 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’:
Loading rates...
|
|
|
Frequently Asked Questions
What currency should I use in the Solomon Islands?
The domestic currency in the Solomon Islands is the Solomon Islands dollar.
What is the Solomon Islands dollar currency code and symbol?
The three letter currency code for the Solomon Islands dollar is SBD — symbol is S$.
Which countries use the Solomon Islands dollar?
It is the domestic currency in Solomon Islands.
Is the Solomon Islands dollar a closed currency?
No, the Solomon Islands dollar is freely available and convertible. See guide: What is a closed currency?
What are equivalent amounts of USD and SBD?
Here are some popular conversion amounts for USD to SBD (US dollar to Solomon Islands dollar)*.
*Converted at the current USDSBD interbank exchange rate. Calculate actual payout amounts for Send Money and Travel Money exchange rates.
Travel money for the Solomon Islands
Using Wise for Solomon Islands 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 Solomon Islands dollar otherwise you will typically get much worst dynamic currency conversion (DCC) exchange rates.
If you really want Solomon Islands dollar cash before departure, you can save money by ordering online. You generally get better rates and can pick up the SBD cash locally or even on travel day at the airport.
USD/SBD Market Data
The below interactive chart displays the USD/SBD change and UP📈 DOWN📉 trends over the past 1 Year.
Send Money to the Solomon Islands - Best Rates
To get a good (and fair) exchange rate when sending money to the Solomon Islands 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 the Solomon Islands
When sending money to the Solomon Islands 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 Solomon Islands 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 SBD amount will be transfered to the recipient account you specify in the Solomon Islands.
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 Solomon Islands dollar deposited into the recipient bank account and less margins and fees kept by the banks!
