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Belize dollar
From Wikipedia, the free encyclopedia
| Belize dollar | |||
|
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| ISO 4217 Code | BZD | ||
|---|---|---|---|
| User(s) | Belize | ||
| Inflation | 3% | ||
| Source | The World Factbook, 2006 est. | ||
| Pegged with | U.S. dollar = BZ$ 2 | ||
| Subunit | |||
| 1/100 | cent | ||
| Symbol | BZ$ | ||
| Coins | 1, 5, 10, 25, 50 cents, $1 | ||
| Banknotes | $2, $5, $10, $20, $50, $100 | ||
| Central bank | Central Bank of Belize | ||
| Website | www.centralbank.org.bz | ||
The dollar (currency code BZD) has been the currency of Belize since 1885. It is normally abbreviated with the dollar sign $, or alternatively BZ$ to distinguish it from other dollar-denominated currencies. It is divided into 100 cents. The Belize dollar is pegged to the US dollar at BZ$2 = US$1.
Contents |
The first dollars to circulate in Belize (then called British Honduras) were Spanish dollars, some of which were counterstamped with a crowned GR monogram. They circulated between 1765 and 1825 at a value of 6 shillings 8 pence. In 1825, British coins were introduced for circulation in the colony.
The Guatemalan peso circulated alongside sterling at a value of 4 shillings 2 pence. This became the basis of the dollar. In 1885, bronze 1 cent coins were issued, followed by silver 5, 10, 25 and 50 cent coins in 1894. This year also saw the first issue of banknotes by the Government and a switch from the silver Guatemalan peso to the gold US dollar as the base for the currency, with $4.866 = 1 pound. The initial proximity of the 25 cent denomination to the value of the shilling lead to this becoming a nickname for these coins.
In 1949, the British pound was devalued from US$4.03 to US$2.80, causing a sudden increase in the value of the British Honduran dollar relative to the pound. This caused protests which lead to a devaluation of the British Honduran dollar to a value of 70 US cents (equal to 5 shillings sterling). In 1967, the British Honduran dollar devalued with the British pound to 60 US cents. In 1978, the link to the British pound of BZ$4 = £1 was replaced by a peg to the US dollar of BZ$2 = US$1.
Coins in circulation
- 1 cent
- 5 cents
- 10 cents
- 25 cents (known as a "shilling")
- 50 cents
- 1 dollar
Banknotes in circulation
- 2 dollars
- 5 dollars
- 10 dollars
- 20 dollars
- 50 dollars
- 100 dollars
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- Banknotes and Coins, Central Bank of Belize