Belize Dollar: A Comprehensive Guide to the Currency of Belize

Introduction

The Belize dollar (BZD), also known as the Belizean dollar, is the official currency of Belize. It is pegged to the US dollar at a fixed rate of 2 BZD to 1 USD. The Belize dollar is divided into 100 cents.

History of the Belize Dollar

Prior to 1973, Belize used the British Honduran dollar, which was pegged to the British pound at a rate of 1 BZD to 1 GBP. In 1973, Belize adopted the Belize dollar, which was pegged to the US dollar at a rate of 2 BZD to 1 USD. This peg has remained in place ever since.

Coins and Banknotes

The Central Bank of Belize issues coins in denominations of 1, 5, 10, 25, 50 cents, and 1 dollar. Banknotes are issued in denominations of 2, 5, 10, 20, 50, and 100 dollars.

Exchange Rate

The Belize dollar is pegged to the US dollar at a fixed rate of 2 BZD to 1 USD. This peg has been in place since 1973 and has remained stable over time.

Value of the Belize Dollar

The value of the Belize dollar is determined by its peg to the US dollar. As the US dollar is one of the world's most traded currencies, the Belize dollar is also relatively stable.

Uses of the Belize Dollar

The Belize dollar is the only currency that is legal tender in Belize. It is used for all transactions within the country, including purchases of goods and services, payment of taxes, and wages.

Future of the Belize Dollar

The Belize dollar is expected to remain pegged to the US dollar for the foreseeable future. This is because the US dollar is a stable currency and Belize benefits from the stability that the peg provides.

Tips for Using the Belize Dollar

When using the Belize dollar, it is important to be aware of the following tips:

• The Belize dollar is pegged to the US dollar at a rate of 2 BZD to 1 USD.
• The Belize dollar is the only currency that is legal tender in Belize.
• It is important to exchange your currency into Belize dollars before arriving in Belize.
• You can exchange your currency at banks, hotels, and currency exchange kiosks.
• It is important to keep your Belize dollars safe, as they are not accepted outside of Belize.

Conclusion

The Belize dollar is a stable and reliable currency that is widely used in Belize. It is pegged to the US dollar at a rate of 2 BZD to 1 USD, which provides stability and makes it easy to exchange currencies.