The island group known as the Bahamas consists of some 3,000 different islands, rocks and cays. This archipelago sits in the Atlantic Ocean just east of the state of Florida, United States of America, and north of Cuba. Its principle industry is tourism.The currency of the country is the Bahaman dollar. It is listed as BSD by the ISO. The division is simple. One hundred cents equals 1 Bahamian dollar. Coins are both in dollars and cents while the banknotes are only dollar values. The American and Bahamian dollar is on parity.
History
Christopher Columbus came upon the Bahamas in 1492. No settlement took place until 1629 when a group of British settlers came from the United States. They founded New Providence. It stayed British except for a brief period in 1641 when it was under Spanish control.
In 1783, England solidified their control over the group of islands obtaining it from France. It remained under their control until 1964 as a British Crown colony. During this period, money consisted of British coins. Until 1806, the coins came from other islands. They were mutilated, becoming Portuguese Joes. The first coins minted for the colony arrived that same year. These copper pennies from Birmingham became the small change for the islands.
Over the decades, British coinage continued to arrive. Only in 1966, did the country begin to have its own coinage. These included a cent, a nickel, and 10, 15, 25 and 50-cent coins. There were also 1, 2 and 5-dollar pieces. Today, the same money exists, with local designs such as the blue marlin, and local politicians and significant figures on the notes. The current Queen of England still graces the obverse of this currency. The coins feature other significant flora, fauna and other cultural items on one side. The obverse has the country and the date.
Obtaining Bahamian Dollars
It is not necessary to use the local currency. American dollars are acceptable throughout much of the island group. If you do choose to do so, you can go to a bank. You can also obtain money from the ATMs on most of the large islands. These include Nassau/Paradise Island and Grand Bahama, as well as on Abaco, Eleuthra, Exumas and Harbor Island. There are few, if any ATMs on the Out Islands.
Protecting Your Currency
The advice here is simple. Watch your money. Take precautions in the heavy urban areas of Nassau and Freeport. Petty but not violent crime is a problem. Read the warnings and listen to what other visitors have to say on the subject. Never leave your wallet, backpack or purse lying around unprotected.
Using Your Bahamian Dollar
This dollar is on par with the American dollar, for now. You can exchange it or not. It may be best to do so if you are visiting the more remote regions or in rural areas. Some islands are less populated than others are. You may do well to purchase local goods there in Bahamian dollars. In Nassau and other tourist areas, use your judgment.
Travel Tips and Warnings
- Always check out the weather conditions and possible damage from hurricanes. Ike and its like knock out power lines and disrupt regular services.
- Crime is minimal in the outlying islands but petty theft is more common in Nassau and Freeport.
- If you rent water sports’ equipment, make sure the dealer is a reliable one. See they provide at least basic training.
- Go sea kayaking or diving in the Exuma Islands.
- Enjoy the Cat Island Music Festival in June.
- Wander among the whitewashed churches you can find on Long Island.
- Be sure to visit the Pirates of Nassau Museum and Historic Nassau on New Providence Island.
- Shop and play in the resort area of the Grand Bahama.
- Be a loyalist for the day and go to Elbow Cay settled by the United Empire Loyalists.
- Bird watch on Andros Island.
Overview
The
Bahamas are an archipelago, a series of islands just of the coast of
the United States of America. The capital is Nassau on New Providence
Island. The entire island group is a series of exotic resorts and
playgrounds mixed with isolated and even uninhabited coasts. The main
economy revolves around tourism, including ecotourism.
For travel information see www.bahamas.com.
Currency Summary
Bahamian dollar
100 cents is equal to 1 Bahamian dollar
Coins: 1, 5, 10, 25 and 50 cents
Banknotes: 1, (3), 5, 10, 20, 50 and 100-dollars
1 Bahamian dollar is on par with 1 American dollar