Barbadian Dollar - BBD

Overview

The Barbadian Dollar is the currency of Barbados, pegged to the US dollar since 1975. It is managed by the Central Bank of Barbados and plays a crucial role in the island's tourism-based economy.

Economy

• Barbados is a member of CARICOM, OAS, Commonwealth, ACS, OECS (associate).
• Main industries include: Tourism, Sugar, Light manufacturing, Component assembly for export.
• Barbados is part of the World Trade Organization.
• Imports are consumer goods, machinery, foodstuffs, construction materials, chemicals, fuel, electrical components.
• Major exports include manufactures, sugar, molasses, rum, other foods, chemicals, electrical components.
• GDP: $5.7 billion (2023 est.).
• GDP per capita: $19,825 (2023 est.).
• Unemployment rate: 8.1% (2023 est.).
• Inflation rate: 4.1% (2023 est.).
• Main trading partners: United States, Trinidad and Tobago, United Kingdom, Jamaica, China, Guyana.
• Trade agreements: CARICOM Single Market, EPA with EU, Various bilateral agreements.

History

• Previous currencies used: East Caribbean dollar, British West Indies dollar, Barbadian pound.
• The Barbadian dollar was introduced in 1972, replacing the East Caribbean dollar. It was initially floated but has been pegged to the US dollar since 1975.
• 1972: BBD introduced, replacing East Caribbean dollar
• 1975: Pegged to USD at 2:1 ratio
• 1986: Central Bank of Barbados established
• 2018: IMF Extended Fund Facility program
• 2022: Economic recovery from COVID-19 pandemic
• Exchange rate peg: USD (1975-present) at 2 BBD = 1 USD.
• Currently pegged to USD at 2 BBD = 1 USD.

General Information

• ISO 4217 Code: BBD
• Symbols: BBD/$
• Currency Subunits: 100 cents
• Central Bank: Central Bank of Barbados
• Monetary Policy: Currency board system maintaining USD peg. Focus on price stability and supporting tourism-dependent economy.
• Bills: 2 BBD, 5 BBD, 10 BBD, 20 BBD, 50 BBD, 100 BBD
• Coins: 1 cent, 5 cents, 10 cents, 25 cents, 1 dollar
• USD Exchange Rate: 2.00
• Pegged To: USD at 2 BBD = 1 USD
• Capital: Bridgetown
• Population: 288,023 (2023 est.)
• Area: 430 km²
• Languages: English (official), Bajan (Barbadian Creole)
• Time Zones: UTC-4 (Atlantic Standard Time)
• Government Type: Parliamentary republic
• Head of Government: Prime Minister (head of government), President (head of state)
• Independence: November 30, 1966 (from United Kingdom)
• Ethnic Groups: African descent 92.4%, Mixed 3.1%, White 2.7%, East Indian 1.3%, Other 0.2%, Unspecified 0.3%
• Religions: Protestant 66.4%, Roman Catholic 3.8%, Other Christian 5.4%, Rastafarian 1%, Other 1.5%, None 20.6%, Unspecified 1.2%
• Literacy Rate: 99.6% (2014 est.)
• Transport: Grantley Adams International Airport, modern road network, Bridgetown port
• Communications: Advanced telecommunications, 81% internet penetration, widespread mobile coverage
• Energy: Fossil fuels primary, growing renewable energy sector with solar initiatives
• Countries Using This Currency: Barbados
• Data Sources: Central Bank: Central Bank of Barbados (centralbank.org.bb), Economic Data: Barbados Statistical Service, World Bank, IMF, Trade Data: Barbados Customs and Excise Department, Demographic Data: Barbados Statistical Service, Geographic Data: Barbados Meteorological Services, Historical Data: Central Bank of Barbados archives
• Last Updated: 2025