If you are an American getting ready to leave for a vacation in the Bahamas, you might be wondering about currency. Can you use US dollars in the Bahamas?
Yes, you can use US dollars while vacationing in the Bahamas. US dollars have the same value as Bahamian dollars, and can be used interchangeably. One thing you will want to be mindful of is crime.
The US State Department does rate the criminal threat level for New Providence Island (includes Nassau and Paradise Island) as critical (source). In regards to money, be sure your money is as secure as possible when traversing the island.
Official Currency of the Bahamas
The official currency of the Bahamas is the Bahamian dollar. These are coded BSD and have been the official currency in the Bahamas since 1966 when the country switched from using the British pound.
Dollars
The Bahamian dollar is distributed in denominations of:
- $100
- $50
- $20
- $5
- $3
- $10
- Half dollars
The $100, $3, and half dollar notes are seldom used today. The Bahamian dollars are the same size as U.S. dollars with a brown, dark green, or mint green coloring. Images that can be seen on the currency include portraits of Queen Elizabeth II as well as various Bahamian politicians.
Coins
Bahamian coins are minted in denominations of:
- 2 dollar
- 1 dollar
- 50 cent
- 25 cent
- 15 cent
- 10 cent
- 5 cent
- 1 cent
Bahamian coins feature the Bahamian coat of arms on one side and culturally significant items, such as a hibiscus, on the reverse.
Are US Dollars accepted in the Bahamas?
As we discussed above, yes, the US dollar is widely accepted in the Bahamas. The U.S. dollar has a fixed 1:1 exchange rate with the Bahamian dollar, and can be used interchangeably.
There is no real need to exchange any money into Bahamian currency if you are coming from the United States. Both dollar types are widely and equally accepted.
If you pay in U.S. dollars you will usually get change in U.S. dollars. If you pay in Bahamian dollars, you will get change in Bahamian dollars.
Merchants typically won’t exchange currency for you. Should you exchange some of your US dollars into Bahamian dollars, be sure to use or exchange it back before you leave. It’s very difficult to exchange once you’re back in the United States.
Best Currency for the Bahamas
If you are coming from the United States, the best currency to use in the Bahamas is the U.S. dollar. It just makes it simpler not to have to exchange.
As we’ve discussed, the Bahamian dollar is equally linked to the U.S. dollar in value. It is accepted everywhere, and sometimes locals will even prefer to be paid in U.S. dollars and might offer better deals if you use U.S. dollars. Furthermore, by using U.S. dollars, you can avoid costly exchange fees.
Bahamian money is equally accepted throughout the islands; however, you do not want to leave the Bahamas with a lot of Bahamian cash. You will need to take the time to exchange it back before you leave the country.
If you are coming from Europe or Canada, and do not want to get US dollars, then using Bahamian dollars in conjunction with credit cards will be just fine. Just be aware that some smaller islands may take cash only, so if you plan to travel outside of the heavy tourist islands, don’t rely solely on credit cards.
How to Exchange Money in the Bahamas
Most airports have a currency exchange window. You can also exchange currency at local banks. Although exchange rates will vary, banks usually have better rates than airports, hotels or other retailers.
Probably the easiest way to exchange money is through the use of a local ATM. The ATMs will dispense cash in Bahamian dollars. Be sure to know your PIN and check with your bank before going to the Bahamas.
There are usually fees and limits involved in using your card outside of your home country. Credit cards are also widely used, however, as a means to prevent credit card fraud, some places will not accept credit cards that do not have chips.
Can you use Canadian dollars in the Bahamas?
There are no laws restricting foreign currency from entering the Bahamas. That said, it would be best to plan on exchanging Canadian currency for Bahamian currency. Most businesses will not accept the Canadian dollar.
Perhaps you can rely mainly on a credit card, but it is advisable to carry some cash to cover tipping and other small expenses. There are several Canadian banks (among other options) that will exchange currency in the larger cities.
Can you use Euros in the Bahamas?
Don’t plan on it. Similar to the Canadian dollar, you will need to exchange at least some Euros to Bahamian dollars to cover tips, small purchases, and other travel expenses. Your credit cards may cover the rest.
Be particularly mindful to bring some Bahamian currency with you if you are heading to the Out Islands. There are few ATMs, and most places will not accept Euros.
Bahamas Currency Travel Tips
- Make sure you have some cash on you at all times. You will need this for tipping and small purchases. Especially in tourist areas, friendly locals who provide assistance (give directions, snap a picture, etc.) will expect a tip. Keep in mind, many things in the Bahamas may be more expensive than what you may be used to at home.
- Aside from a few souvenir coins, make sure to exchange your Bahamian money out before you leave. It is very difficult, if not impossible, to exchange outside of the Bahamas. Some fun coins that you may want to keep that are considered rare and collectible include the 15 cent square coin and the $3 bill.
- Most casinos in the Bahamas prefer US dollars. Some may even refuse local currency. If you plan to go to the casinos, bring US dollars with you.