The currency of the Bahamas. Currency code (BSD)
BSD - Bahamian Dollar
The official currency for the Bahamas is the Bahamian Dollar. The $ symbol is used for the Bahamian Dollar; the symbol B$ distinguishes it from other Dollar currencies. The Dollar is divided into 100 cents and is pegged to the US Dollar at par.
- The Bahamas economy is dependent on the tourism and offshore banking industries.
- The economy in the Bahamas is steady and stable.
- Constructions for hotels and resorts are booming due to the large influx of tourists.
- The service industry contributes 90% of the total GDP. Agriculture and other industries account for the remainder.
- Top industries in the Bahamas are oil, rum, pharmaceuticals, banking, salt, aragonite, and tourism.
- Unemployment is estimated at 8%.
- Export products are vegetables, fruit, salt, animal products, mineral products, and rum.
- Import products are food, machinery, chemicals, and live animals.
- Agriculture is a small portion of the economy, and the country is trying to obtain investors to develop agriculture in the Bahamas.
- Government spending is rated low and equals +/- 23% of the GDP.
- In 1966, the Bahamian Dollar replaced the British Pound Sterling, and coins were introduced.
- In 1968, the Bahamas monetary authority started issuing paper money.
- In 1974, the Central Bank of the Bahamas became the official supplier of Bahamian banknotes.
- In 2005, the new version of the $10 banknote was introduced.
- Shortly after the release of the $10 banknote, one of the serial numbers was counterfeited. A warning was sent to all bank authorities in the Bahamas to be aware of the counterfeit when accepting $10 bills.
- Businesses in the Bahamas accept both the Bahamian Dollar and the US Dollar.