Belize Currency
What is the unit of currency in Belize? The Belize Dollar. One U.S. dollar equals two Belize dollars. For several decades now the Belize Dollar has been tied to the U.S. dollar at an oficial rate of two Belize Dollars to one US dollar. However, increased borrowing by government has led to growing pressure on this official exchange peg. A lively parallel market usually gives BZ$1.97 for a US Dollar. US dollars are gladly accepted throughout Belize. Thus visitors with US dollars do not need to worry about changing the money into Belize dollars - it doesn't make much sense.
Belize Dollars are generally worthless outside Belize and the few places that might change them, for example a casa de cambio abroad will offer little for it. Belize dollars are readily accepted in the towns immediately across the borders of Belize, at Melchor de Mencos in Guatemala and at the large Mexican city of Chetumal in Mexico. Stangely, the Belize Dolar is not accepted at the Corozal Free inside Belize at the Northen Border. Only Mexican Pesos and the U.S. dollar are negotiable there.
What is the unit of currency in Belize? The Belize Dollar. One U.S. dollar equals two Belize dollars. For several decades now the Belize Dollar has been tied to the U.S. dollar at an oficial rate of two Belize Dollars to one US dollar. However, increased borrowing by government has led to growing pressure on this official exchange peg. A lively parallel market usually gives BZ$1.97 for a US Dollar. US dollars are gladly accepted throughout Belize. Thus visitors with US dollars do not need to worry about changing the money into Belize dollars - it doesn't make much sense.
Belize Dollars are generally worthless outside Belize and the few places that might change them, for example a casa de cambio abroad will offer little for it. Belize dollars are readily accepted in the towns immediately across the borders of Belize, at Melchor de Mencos in Guatemala and at the large Mexican city of Chetumal in Mexico. Stangely, the Belize Dolar is not accepted at the Corozal Free inside Belize at the Northen Border. Only Mexican Pesos and the U.S. dollar are negotiable there.
The Money
Belize currency is printed outside Belize, at the British firm Thomas De La Rue Ltd. All Belize bank notes feature a prominent image of Queen Elizabeth II on the front. Belize is a member of the British Commonwealth and has the Queen of England as Head of State.
Nationals of Belize are prohibited by law from holding US dollar accounts - this is one way the government tries to shore up its Belize dollar. Belizeans - from the ordinary citizen to businessmen, must fill out special forms and apply to purchase foreign exchange for whatever reason - be it for emergency medical treatment abroad, or to pay for imports. To add insult to injury, government also taxes these purchases and the banks of course charge a commission. At times of high demand, the banks simply have no foreign exchange for regular customers. Belize dollars are usually sold by the banks at a rate of 2.0175 Belize dollars for one U.S. dollar.
Visitors arriving by land will encounter free-lance money changers, sometimes called "peseros" who will ususually give you a better exchange compared to the the banks. You will not have to fill out long forms with personal information or stand in line at a bank to get foreign exchange. These money changers are frowned upon, but tolerated by the authorities.
Belize Currency Converter
Currency converters are not really needed in Belize, unless you are changing large amounts of cash. Across the border in Mexico and Guatemala, things are different as the exchange rates sometimes fluctuate wildly.
The money changers at the land borders will quote you the rate of the day if you are buying Guatemalan Qetzales or Mexican pesos, whip out a calculator and show you the exchange value you will receive for your purchase.
Belize currency is printed outside Belize, at the British firm Thomas De La Rue Ltd. All Belize bank notes feature a prominent image of Queen Elizabeth II on the front. Belize is a member of the British Commonwealth and has the Queen of England as Head of State.
Nationals of Belize are prohibited by law from holding US dollar accounts - this is one way the government tries to shore up its Belize dollar. Belizeans - from the ordinary citizen to businessmen, must fill out special forms and apply to purchase foreign exchange for whatever reason - be it for emergency medical treatment abroad, or to pay for imports. To add insult to injury, government also taxes these purchases and the banks of course charge a commission. At times of high demand, the banks simply have no foreign exchange for regular customers. Belize dollars are usually sold by the banks at a rate of 2.0175 Belize dollars for one U.S. dollar.
Visitors arriving by land will encounter free-lance money changers, sometimes called "peseros" who will ususually give you a better exchange compared to the the banks. You will not have to fill out long forms with personal information or stand in line at a bank to get foreign exchange. These money changers are frowned upon, but tolerated by the authorities.
Belize Currency Converter
Currency converters are not really needed in Belize, unless you are changing large amounts of cash. Across the border in Mexico and Guatemala, things are different as the exchange rates sometimes fluctuate wildly.
The money changers at the land borders will quote you the rate of the day if you are buying Guatemalan Qetzales or Mexican pesos, whip out a calculator and show you the exchange value you will receive for your purchase.
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