BANKNOTES OF THE BARBADOS
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|1995||42r||5 Dollars||Replacement Note - Z1|
The history of the currency of the Barbados
In 1848 the British pound sterling became the official currency for use on Barbados. Although the pound was the official currency, both U.S. dollars and pound sterling circulated on Barbados up until 1935. In 1935 the British West Indies Dollar was introduced at par with the U.S. Dollar and valued at four shillings and two pence in pounds sterling. The Government of Barbados issued banknotes denominated in dollars bearing a portrait of King George VI from 1938 until 1951.
In 1951, the Board of Commissioners of Currency for the British Eastern Caribbean Territories became the sole note issuer of the West Indies Dollar and their notes subsequently replaced the Barbadian government notes. The East Caribbean dollar replaced the West Indies dollar in 1965. Barbados opted by act of parliament to introduce its own currency in 1972. In December 1973 the Barbados dollar replaced the Eastern Caribbean dollar at par. The Central Bank of Barbados is the sole note issuer of banknotes in the Barbados. The Barbados Dollar is divided into 100 cents and its ISO 4217 code is BBD.
The value of the Barbados dollar has been pegged to the U.S. dollar since July 1975 at a rate of BBD$1.98 is equal to one U.S. dollar.
Prices in Barbados dollars are expressed with a $ sign like other dollar currencies, alternatively it can be written as Bds$ to distinguish it from other dollar currencies. The Central Bank of Barbados currently issues banknotes in denominations of $1, $2, $5, $10, $20, $50 and $100. Coins are issued in denominations of 1, 5, 10, 25 cents and 1 dollar.
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Page created: 20 June 2006
Last Update: 6 April 2007
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