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Central Bank of Aruba: 1.79 AWG = 1.00 USD Bahamas: Bahamian dollar: BSD: Central Bank of The Bahamas: 1.00 BSD = 1.00 USD Barbados: Barbadian dollar: BBD: Central Bank of Barbados: 2.00 BBD = 1.00 USD Caribbean Netherlands: United States dollar: USD: De Nederlandsche Bank (monetary authority) Federal Reserve Bank (U.S. dollar) float Cayman Islands
The head of the Central Bank is the Governor, who is appointed by the Minister of Finance. [9] The current Governor of the Central Bank of Barbados is Dr. Kevin Greenidge as of March 1, 2023. [10] The Bank also has three Deputy Governors in the persons of Mr. Alwyn Jordan, Ms. Michelle Doyle and Mr. Elson Gaskin.
The Barbados dollar replaced the East Caribbean dollar at par in 1973. Since 5 July 1975, the Barbados dollar has been pegged to the US dollar. It is presently fixed at an exchange rate of US$1 = BBD$1.98. [7] However, in practice in businesses, the effective exchange rate with US dollar is fixed at 2 to 1 in favor of the US dollar, i.e. US$1=BBD$2
Foreign-exchange reserves is generally used to intervene in the foreign exchange market to stabilize or influence the value of a country's currency. Central banks can buy or sell foreign currency to influence exchange rates directly. For example, if a currency is depreciating, a central bank can sell its reserves in foreign currency to buy its ...
In May 1972 Barbados formed its own Central Bank, breaking off from the East Caribbean Currency Authority (ECCA). By 1975 the Barbadian dollar was changed to a new fixed / constant rate of exchange rate with the US$ with the rate being changed to present day US$1 = BBD$1.98 (BBD$1.00 = ~US$0.50).
The bank was established by an agreement (the Eastern Caribbean Central Bank Agreement) signed at Port of Spain on 5 July 1983. The exchange rate of $4.80 = £1 sterling (equivalent to the old $1 = 4s 2d) continued until 1976 for the new Eastern Caribbean dollar. [1]
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Central bank Peg Anguilla: Eastern Caribbean dollar: Eastern Caribbean Central Bank Antigua and Barbuda Dominica Grenada Montserrat Saint Kitts and Nevis Saint Lucia Saint Vincent and the Grenadines Argentina: Argentine peso: Banco Central de la República Argentina Belize: Belize dollar: Central Bank of Belize: 2 BZD = 1 USD Bermuda: Bermudan ...