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The Bahamian dollar has been the currency of The Bahamas since 1966, and is pegged to the U.S. dollar on a one-to-one basis. The Central Bank's objective is to keep stable conditions, in order to maintain the parity between the U.S. dollar and the Bahamian dollar while allowing economic development to continue.
Although the U.S. dollar (as any other foreign currency) is subject to exchange control laws in The Bahamas, the parity between Bahamian dollars and U.S. dollars means that most businesses will accept either U.S. or Bahamian currency, and many of the businesses that serve tourists have extra U.S. dollars on hand for the convenience of tourists.
The Bahamas became an independent Commonwealth realm in 1973, retaining the British monarch as head of state. In terms of GDP per capita, The Bahamas is one of the richest countries in the Americas, just behind the US and Canada, with an economy based on tourism and finance.
The name Bahamas comes from the Spanish baja mar, which means shallow sea. There are around 700 islands in the Bahamas, of which only around 30 are inhabited.
The Bahamas is the site of Columbus' first landfall in the New World in1492, the first country to be found by European voyagers.
Tourism not only accounts for over 60% of the Bahamian GDP, but provides jobs for more than half the country's workforce. The Bahamian dollar is the offical currency of the Bahamas. The ISO 4217 currency code for the Bahamian Dollar is BSD.