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The Belize dollar is the official currency of Belize, but US dollars are widely accepted across the country. The Belize dollar is pegged to the US dollar at a fixed exchange rate of 2:1, so both currencies are used interchangeably. This means that two Belizean dollars will always be equal to one American dollar, so there is no need to worry about calculating exchange rates. Visitors to Belize can use US dollars to pay for goods and services in most businesses and establishments, although smaller businesses may only accept Belizean dollars. It is worth noting that US coins are not accepted in Belize, and it is advisable to carry smaller denomination bills for paying taxis, meals and tips.
| Characteristics | Values |
|---|---|
| Official currency of Belize | Belize Dollar (BZD or BZ$) |
| Exchange rate | 2 BZD to 1 USD |
| Use of US dollars in Belize | Widely accepted |
| Availability of ATMs | In all bigger towns and tourist areas |
| Credit card acceptance | Gaining popularity but not widely accepted |
| Tipping | Cash preferred |
What You'll Learn
US dollars are widely accepted in Belize
Most businesses in Belize accept both currencies, although smaller establishments may only take Belize dollars. You can pay for things in US dollars, but you will receive your change in Belize dollars. US coins are not accepted in Belize, so it is best to leave these at home.
It is important to note that some prices may be listed in US dollars, especially for more expensive items such as hotels or tours, while prices in shops and restaurants are usually in Belize dollars. It is always worth checking which currency is being quoted to avoid any confusion, as the difference is substantial.
Credit cards are gaining popularity in Belize, but they may not be widely accepted outside of restaurants, bars, tour offices, and hotels. Of the major credit cards, Mastercard and Visa are much more widely accepted than American Express or Discover, due to their hefty merchant fees.
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US coins are not accepted in Belize
While US dollars are widely accepted in Belize, US coins are not. The Belize dollar is the official currency in Belize, with the official value pegged at $2 BZ to $1 US. US cash is accepted in most places, especially in tourist destinations, but change will usually be given in Belize dollars.
The Belize dollar is divided into 100 cents, with coins in denominations of one cent, five cents, 10 cents, 25 cents, 50 cents, and a $1 coin. The $1 coin is the most prominent in circulation. As the US dollar is divided into 100 cents, with the lowest-value coin being 1 cent, it is impractical to exchange US coins for Belizean currency.
Belize is a former British colony, and as a member of the Commonwealth, all local banknotes and coins feature a prominent image of Queen Elizabeth II. The front of Belize notes features local wildlife or prominent buildings in the country.
Belize law allows individuals to bring a maximum of $5,000 US dollars into the country. Visitors must declare their total currency holdings upon entering the country if they exceed this amount. Violators may be arrested and/or fined triple the amount of any undeclared funds.
It is best to avoid freelance money changers (known locally as "peseros"), who do not require any paperwork. Unlicensed money changers are frequently found around the border areas with Mexico or Guatemala.
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It's not necessary to change US dollars into Belize dollars
The Belize dollar (BZ$) is the official currency of Belize, but it is pegged to the US dollar at a fixed rate of $2 BZ to $1 US. This means that the US dollar is widely accepted in Belize, and travellers can use it to purchase items almost everywhere.
As a result, it is unnecessary to change US dollars into Belize dollars before a trip. This is especially true if you are travelling from the US, as you can simply bring your US dollars with you. You can pay for things in US dollars, but expect to receive your change in Belize dollars.
However, it is worth noting that smaller establishments may only take Belize dollars. Additionally, you cannot pay using US coins, so it is best to leave those at home. It is also important to be aware of the prices you are being quoted, as they may be in US dollars or Belize dollars, and the difference is substantial due to the 2:1 ratio.
ATMs can be found in all the bigger towns and tourist areas of Belize, but they dispense only Belize dollars and often have daily limits and fees for withdrawals. Credit cards are gaining popularity but are not widely accepted outside of restaurants, bars, tour offices, and hotels.
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Belize dollars are hard to exchange outside of Belize
Belize is a former British colony, and as a result, its currency features a prominent image of Queen Elizabeth II. The Belize dollar is divided into 100 cents, with banknotes in denominations of $2, $5, $10, $20, $50, and $100, and coins in denominations of $1 and $2, as well as smaller coins of 50, 25, 10, 5, and 1 cent.
While the US dollar is widely accepted in Belize, especially in tourist destinations, it is unlikely that you will receive US currency in return if you pay with US dollars. Instead, you will be given Belize dollars at the $1 US to $2 BZ exchange rate. This makes it important to be aware of whether a quoted price is in US or Belize dollars, as the difference can be substantial.
When travelling to Belize, it is advisable to bring money in various forms, such as cash, credit cards, and debit cards. While credit cards are gaining popularity, they may not be widely accepted outside of restaurants, bars, tour offices, and hotels. Smaller bills are more widely accepted than large ones, especially in villages, boutiques, and smaller restaurants.
It is worth noting that Belize has a departure tax of $39.25 for non-locals, which must be paid in US currency. Additionally, Belize law allows individuals to bring a maximum of $5000 in US dollars into the country, and any amount exceeding this must be declared to customs.
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Belize dollars are pegged to US dollars at a 2:1 ratio
The Belize dollar is pegged to the US dollar at a rate of 2:1, meaning two Belizean dollars are equal to one US dollar. This has several advantages for travellers to Belize.
Firstly, it means that US dollars are widely accepted in Belize, and many businesses accept them. This means that travellers with US dollars do not need to worry about exchanging their money into local Belizean currency, as the exchange rate is fixed. This also applies to US dollar-based traveller's cheques.
Secondly, the pegged exchange rate means that there is no need to calculate exchange rates when converting between the two currencies. This can be helpful for travellers who want to know exactly how much they are spending.
It is worth noting that while the official exchange rate is 2:1, in practice, the Belize dollar is sometimes accepted at a slight fluctuation, usually $2.0175 Belizean dollars for one US dollar. This is the rate that banks will sell US dollars for, and it is also the rate that is used when purchasing a bank draft.
Additionally, it is important to be careful when quoted prices in Belize, as many hotels, restaurants, and tour operators quote prices in US dollars. At a two-to-one ratio, the difference can be substantial, so it is important to ask if the price is in Belizean or US dollars to avoid confusion.
Overall, the fact that the Belize dollar is pegged to the US dollar at a 2:1 ratio can be advantageous for travellers to Belize, as it simplifies the currency exchange process and allows for easy price comparisons.
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Frequently asked questions
Yes, US dollars are widely accepted in Belize, especially in tourist destinations. However, it's important to note that US coins are not accepted, and you will likely receive your change in Belize dollars.
There are a few advantages to using US dollars in Belize. Firstly, you won't need to worry about unfavourable exchange rates, as the Belize dollar is pegged to the US dollar at a fixed rate of 2 BZ$ to 1 US$. Additionally, US dollars are widely accepted in Belize, so you won't need to worry about finding a place to exchange your currency. Finally, using US dollars can be more convenient if you're travelling from the US, as you won't need to convert your currency before your trip.
One potential disadvantage of using US dollars in Belize is that you may end up paying more if you don't pay attention to the exchange rate. While the official exchange rate is 2 BZ$ to 1 US$, some businesses may offer a slightly lower rate, such as 2.01 BZ$ to 1 US$. Additionally, it's important to be aware that prices in Belize are typically listed in Belize dollars, not US dollars. Therefore, if you're paying in US dollars, you'll need to calculate the correct amount to pay.
Belize is primarily a cash society, and US dollars are widely accepted. However, it's important to carry smaller denominations, as some businesses may not have enough change for larger bills. Credit cards are also accepted in most tourist destinations, such as restaurants, hotels, and tour offices, but they may not be widely accepted in smaller villages or boutique shops.
