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The Barbadian Dollar has been the national currency of Barbados since 1935. In general, the history of currency in the British colony of Barbados closely follows that of British Eastern Caribbean territories.
Britain adopted the gold standard in 1821 and Barbados formally adopted the British sterling coinage in 1848. However, despite the circulation of British coins in Barbados the silver dollar continued to circulate alongside them, and the private sector still used dollar accounts. The global silver crisis of 1873 prompted the end of the silver dollar era in the West Indies, so silver dollars were demonetized. From 1882, 1 pound notes and dollar notes were circulating alongside each other, which caused some economic unrest! In 1965 the British West Indies dollar replaced the East Caribbean Dollar, and in 1972 The Central Bank of Barbados was formed, giving rise to the Barbadian Dollar.
When the British first settled in Barbados, the island was a jungle. The name “Barbados” comes from the bearded fig tree which used to be found there.
Since July 1975, the Barbadian dollar has been pegged to the US dollar, at a rate of US$1=Bds$2 . This rate is commonly accepted across the island, however exchanging your money at the airport will yield a lower rate!
The Barbadian Dollar is the official currency of Barbados. The ISO 4217 currency code for the Barbadian Dollar is BBD.