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Bahamian Dollar (BSD) Profile

Currency name: 
Currency code: 
Currency symbol: 

$, or B$

Subunit: 
1/100,  cent; symbol: ¢ or c
Coins freq used: 
1¢, 5¢, 10¢, 25¢
Coins rarely used: 
B$1, B$2, B$5, 15¢, 50¢
Banknotes freq used: 
B$1, B$5, B$10, B$20, B$50, B$100
Banknotes rarely used: 
B$1/2, B$3
Central bank: 
The Central Bank of The Bahamas  (www.centralbankbahamas.com)
Currency users: 

The Bahamas, Turks and Caicos Islands(alongside the U.S.dollar from May 25, 2013)

Currency notes: 

Bahamian dollar is pegged with the U.S. dollar at par.

Currency user map: 

Bahamian dollar Users

The Bahamian dollar is the currency of the Bahamas (officially Commonwealth of the Bahamas), which is an island country in the Atlantic Ocean, located southeast of the United States of Florida. The Bahamas became a British Crown colony in 1718 and obtained internal self-governing in 1964. It was fully independent from the United Kingdom in 1973 and is a member of the Commonwealth realm.

A Commonwealth realm is a sovereign country within the Commonwealth of Nations, which now consists of 16 Commonwealth realms including Antigua and Barbuda, Australia, Bahamas, Barbados, Belize, Canada, Grenada, Jamaica, New Zealand, Papua New Guinea, Saint Kitts and Nevis, Saint Lucia, Saint Vincent and the Grenadines, Solomon Islands, Tuvalu, and the United Kingdom. Except for Papua New Guinea and the United Kingdom itself, the other fourteen realms are former British colonies. The United Kingdom is the original realm from which other realms became independent, and Papua New Guinea obtained independence from Australia on 16 September 1975. The first Commonwealth realm is Canada, which adopted the Act of Statute of Westminster 1931 and granted full autonomy, followed by Australia and New Zealand. Each later twelfth realm (except the United Kingdom itself) was created by an instant grant of independence.

The Commonwealth of Nations, also known as the Commonwealth or British Commonwealth, is an intergovernmental organization consisting of 54 independent member states, most of which were part of the British Empire.

Sixteen Commonwealth realms (Established Since 1931 - present)
Realms Since Location-Continent Currency name Code Currency notes
Antigua and Barbuda 1981 North America East Caribbean dollar XCD Pegged with the U.S. dollar
at 1 USD = 2.70 XCD
Australia 1942 <2> Oceania Australian dollar AUD Pegged by Tuvaluan dollar and Kiribati dollar at par
Bahamas 1973 North America Bahamian dollar BSD Pegged with the U.S. dollar at par
Barbados 1966 North America Barbadian dollar BBD Pegged with the U.S. dollar
at 1 USD = 2 BZD
Belize 1981 North America Belize dollar BZD Pegged with the U.S. dollar
at 1 USD = 2 BZD
Canada 1931 <2> North America Canadian dollar CAD  
Grenada 1974 North America East Caribbean dollar XCD Pegged with the U.S. dollar
at 1 USD = 2.70 XCD
Jamaica 1962 North America Jamaican dollar JMD  
New Zealand 1947 <2> Oceania New Zealand dollar NZD Pegged at par by Cook Islands dollar, Niue dollar, and Pitcairn Islands dollar.
Papua New Guinea 1975 <3> Oceania Papua New Guinean kina PGK  
Saint Kitts and Nevis 1983 North America East Caribbean dollar XCD Pegged with the U.S. dollar
at 1 USD = 2.70 XCD
Saint Lucia 1979 North America East Caribbean dollar XCD Pegged with the U.S. dollar
at 1 USD = 2.70 XCD
Saint Vincent and the Grenadines 1979 North America East Caribbean dollar XCD Pegged with the U.S. dollar
at 1 USD = 2.70 XCD
Solomon Islands 1978 Oceania Solomon Islands dollar SBD  
Tuvalu 1978 Oceania Australian dollar AUD alongside New Zealand dollar from 25 May 2013 which is pegged with AUD at par.
United Kingdom <1> Europe Pound sterling GBP  

Notes:
<1>. The U.K is the original realm from which other realms became independent.
<2>. Austria, Canada, New Zealand adopted the Act of Statute of Westminster 1931 and granted full autonomy.
<3>. Papua New Guinea obtained independence from Australia on 16 September 1975.

Bahamian dollar history

The Bahamian dollar was introduced in 1966, replacing the pound at a rate of 1 dollar = 7 shillings. The Bahamas used the pound as the official currency from 1840 to 1966, while the U.S. dollar was circulated widely and freely alongside the sterling.

Both Bahamian dollars and the U.S. dollars are accepted in the Bahamas, and many businesses here accept either U.S. dollars or Bahamian dollars. The Bahamian dollar is pegged to the U.S. dollar at par.

Bahamian dollar coins and banknotes

The Bahamian dollar is subdivided into 100 cents.

Currently in circulation, coins are in the denominations of 1, 5, 10, 25 cents, and banknotes are in the denominations of 1, 5, 10, 20, 50, 100 dollars. Rarely used coins are in denominations of 15 cents, 50 cents, 1, 2, 5 dollars.

Bahamian dollar and currencies of British West Indies

The British West Indies were part of the British Empire and were the Islands in and around the Caribbean (the region consisting of the Caribbean Sea, its islands, and the surrounding coasts). After Jamaica and Trinidad and Tobago, most colonies of British Indies gained independence from the United Kingdom or became the British territories. For better economic development, good governance, and dependencies in the East Caribbean, the Organisation of Eastern Caribbean States (OECS) was created on 18 June 1981, which consists of 9 members and uses the common currency of the East Caribbean dollar (XCD).

Currencies of present-day nations which formerly were British West Indies
British west Indies West Indies Federation <2> Independence
from UK
Present-day Currency Currency status between 1839-1955 <5> and before independence
Antigua and Barbuda <1> Yes since 1981 East Caribbean dollar (XCD)
Pegged with U.S dollar at 1 USD = 2.70 XCD
Antigua and Barbuda were members of the East Caribbean group and used sterling coinage with a mixture of sterling and Spanish dollar accounts, both at a fixed exchange rate of $1 = 4s 2d until 1949. The group formed a currency of the British West Indies dollar existed from 1949 to 1965 (when it was changed name to East Caribbean dollar, XCD).
Dominica <1> Yes since 1978 East Caribbean dollar (XCD)
Pegged with U.S dollar at 1 USD = 2.70 XCD
Dominica was a member of the East Caribbean group and used sterling coinage with a mixture of sterling and Spanish dollar accounts, both at a fixed exchange rate of $1 = 4s 2d until 1949. The group formed a currency of the British West Indies dollar existed from 1949 to 1965 (when it was changed name to East Caribbean dollar, XCD).
Grenada <1> Yes since 1966 East Caribbean dollar (XCD)
Pegged with U.S dollar at 1 USD = 2.70 XCD
Grenada was a member of the East Caribbean group and used sterling coinage with a mixture of sterling and Spanish dollar accounts, both at a fixed exchange rate of $1 = 4s 2d until 1949. The group formed a currency of the British West Indies dollar existed from 1949 to 1965 (when it was changed name to East Caribbean dollar, XCD).
Saint Lucia <1> Yes since 1979 East Caribbean dollar (XCD)
Pegged with U.S dollar at 1 USD = 2.70 XCD
Saint Lucia was a member of the East Caribbean group and used sterling coinage with a mixture of sterling and Spanish dollar accounts, both at a fixed exchange rate of $1 = 4s 2d until 1949. The group formed a currency of the British West Indies dollar existed from 1949 to 1965 (when it was changed name to East Caribbean dollar, XCD).
Saint Kitts and Nevis <1> Yes since 1983 East Caribbean dollar (XCD)
Pegged with U.S dollar at 1 USD = 2.70 XCD
Saint Kitts and Nevis were members of the East Caribbean group and used sterling coinage with a mixture of sterling and Spanish dollar accounts, both at a fixed exchange rate of $1 = 4s 2d until 1949. The group formed a currency of the British West Indies dollar existed from 1949 to 1965 (when it was changed name to East Caribbean dollar, XCD).
Anguilla (UK) <1> Yes <3> British territory East Caribbean dollar (XCD)
Pegged with U.S dollar at 1 USD = 2.70 XCD
Anguilla was a member of the East Caribbean group and used sterling coinage with a mixture of sterling and Spanish dollar accounts, both at a fixed exchange rate of $1 = 4s 2d until 1949. The group formed a currency of the British West Indies dollar existed from 1949 to 1965 (when it was changed name to East Caribbean dollar, XCD).
Saint Vincent and the Grenadines <1> Yes since 1979 East Caribbean dollar (XCD)
Pegged with U.S dollar at 1 USD = 2.70 XCD
Saint Vincent and the Grenadines were members of the East Caribbean group and used sterling coinage with a mixture of sterling and Spanish dollar accounts, both at a fixed exchange rate of $1 = 4s 2d until 1949. The group formed a currency existed from 1949 to 1965 (was changed name to East Caribbean dollar, XCD).
Montserrat (UK) <1> Yes British territory East Caribbean dollar (XCD)
Pegged with U.S dollar at 1 USD = 2.70 XCD
Montserrat was a member of the East Caribbean group and used sterling coinage with a mixture of sterling and Spanish dollar accounts, both at a fixed exchange rate of $1 = 4s 2d until 1949. The group formed a currency of the British West Indies dollar existed from 1949 to 1965 (when it was changed name to East Caribbean dollar, XCD).
Barbados Yes since 1966 Barbados dollar (BBD)
Pegged with U.S. dollar at 1 USD = 2 BBD
Barbados was a member of the East Caribbean group and used sterling coinage with a mixture of sterling and Spanish dollar accounts, both at a fixed exchange rate of $1 = 4s 2d until 1949. The group formed a currency of the British West Indies dollar existed from 1949 to 1965 (when it was changed name to East Caribbean dollar, XCD). Barbados introduced the Barbados dollar in 1973 and replaced XCD at par.
Trinidad and Tobago Yes since 1962 Trinidad and Tobago dollar (TTD) Trinidad and Tobago was a member of the East Caribbean group and used sterling coinage with a mixture of sterling and Spanish dollar accounts, both at a fixed exchange rate of $1 = 4s 2d. The group formed a currency of the British West Indies dollar existed from 1949 to 1965 (when it was changed name to East Caribbean dollar, XCD). Trinidad and Tobago left and introduced its own currency in 1964.
British Virgin Islands (UK) <1> / British territory United States dollar (USD) British Virgin Islands was a member of the East Caribbean group and used sterling as the official currency. However, the Danish money and later U.S. dollars were widely used alongside. The British West Indies dollar was introduced into the British Virgin Islands in 1951. Later since 1961, the U.S. dollar was adopted as the official currency.
Bahamas / since 1973 Bahamian dollar (BSD).
Pegged with USD at par.
Bahamas used pound from 1840 to 1966 and allowed the U.S. dollar to be unofficially circulated alongside sterling. The Bahamian dollar was introduced in 1966. Both BHD and USD are accepted interchangeably in the Bahamas.
British Honduras <4> / since 1981 <4> Belize dollar (BZD) British Honduras used pound sterling from 1840 to 1885 when the British Honduras dollar (based on U.S. dollar) was introduced. The currency name was changed following British Honduras being officially renamed Belize in 1973.
British Guiana) <4> / since 1966 Guyanese dollar (GYD) British Guiana was the only one using dollar accounts throughout the British West Indies and used a mixture of British West Indies dollar and sterling coinage until 1966, when it was changed name to East Caribbean dollar. It was renamed Guyana in 1966 and used the Guyanese dollar.
Anguilla (UK) <4> / British territory East Caribbean dollar (XCD)
Pegged with U.S dollar at 1 USD = 2.70 XCD
Anguilla was a member of the East Caribbean group and used sterling coinage with a mixture of sterling and Spanish dollar accounts, both at a fixed exchange rate of $1 = 4s 2d until 1949. The group formed a currency of the British West Indies dollar existed from 1949 to 1965 (when it was changed name to East Caribbean dollar, XCD).
Turks and Caicos Islands (UK) <4> / British territory United States dollar (USD) Turks and Caicos Islands were a member of the East Caribbean group and used sterling as the official currency. However, the U.S. dollar was introduced into the Turks and Caicos Islands in 1852, replacing the pound. Since then, the U.S. dollar has been used alongside sterling and later as the official currency.
Cayman Islands (UK) <4> / British territory Cayman Islands dollar (KYD) Cayman Islands were a member of the East Caribbean group and used sterling as the official currency. However, the Jamaican dollar was the main currency used for circulation until 1972, when it was replaced by the Cayman Islands dollar. Both currencies were accepted interchangeably for some years, but the Jamaican dollar ceased to be legal tender in 1974.
Montserrat (UK) <4> / British territory East Caribbean dollar (XCD)
Pegged with U.S dollar at 1 USD = 2.70 XCD
Montserrat was a member of the East Caribbean group and used sterling coinage with a mixture of sterling and Spanish dollar accounts, both at a fixed exchange rate of $1 = 4s 2d until 1949. The group formed a currency of the British West Indies dollar existed from 1949 to 1965 (when it was changed name to East Caribbean dollar, XCD).