Barbados Dollar (BBD)

The Barbados Dollar (BBD) is the official currency of Barbados, a Caribbean island nation. It is issued by the Central Bank of Barbados and is represented by the symbol BBD. The Barbados Dollar is subdivided into 100 cents.

Here are some key details about the Barbados Dollar:

1. History: The Barbados Dollar has been the official currency of Barbados since 1935. Prior to that, the British Pound Sterling was used as the currency.

2. Exchange Rate: The Barbados Dollar is pegged to the United States Dollar (USD) at a fixed exchange rate of 1 USD = 2 BBD. This means that the value of the Barbados Dollar remains relatively stable against the US Dollar.

3. Coins and Banknotes: The Barbados Dollar is available in both coins and banknotes. Coins are available in denominations of 1 cent, 5 cents, 10 cents, 25 cents, and 1 dollar. Banknotes are available in denominations of 2 dollars, 5 dollars, 10 dollars, 20 dollars, 50 dollars, and 100 dollars.

4. Legal Tender: The Barbados Dollar is the only legal tender accepted in Barbados. It is used for everyday transactions, including shopping, dining, and other commercial activities.

5. Economy: The Barbados Dollar plays a crucial role in Barbados’ economy, which is heavily reliant on tourism and financial services. The stability of the currency is important for attracting tourists and foreign investment.

6. Foreign Exchange: The Barbados Dollar is not widely traded on international foreign exchange markets. However, it can be exchanged for other major currencies at banks and authorized foreign exchange dealers in Barbados.

7. Currency Code: The currency code for the Barbados Dollar is BBD, which is used in international financial transactions and currency exchange.

It’s important to note that the value of the Barbados Dollar can be affected by various factors such as economic performance, inflation, interest rates, and global market conditions. The Central Bank of Barbados plays a crucial role in maintaining the stability of the currency by implementing appropriate monetary policies.