Barbados Dollar (BBD)
Tue, Apr 15What is Barbadian dollar?
The Barbadian dollar (BBD) serves as the official currency of Barbados, an island nation situated in the eastern Caribbean Sea. It has been the country's official currency since 1935, when it took the place of the British West Indies dollar.
Denominations and symbols of the Barbadian dollar
The Barbadian dollar is divided into 100 cents and is represented by the "$" symbol.
Exchange Rate and Peg to the US Dollar
It is pegged to the US dollar at a fixed exchange rate of 1 USD = 2 BBD. This peg means that the value of the Barbadian dollar is directly linked to the US dollar, and any fluctuations in the US dollar's value can influence the purchasing power of the Barbadian dollar.
Acceptance of the Barbadian dollar
The Barbadian dollar is widely accepted across Barbados, and US dollars are also frequently used. Tourists visiting Barbados can typically exchange their foreign currency for Barbadian dollars at banks, exchange bureaus, and various hotels and resorts.
The Barbadian economy relies heavily on tourism, and changes in the tourism sector can affect the value of the Barbadian dollar. Additionally, variations in the prices of oil and other commodities can also impact the country's economy and the value of its currency.
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