Belize is in Central America and has a history of being colonized, which has impacted its currency over the years. Since the country has had a few different currencies over the last few decades, you may wonder what the current one is.
The first known official currency of Belize was the Spanish dollar. Around the time that Britain colonized the country, the British Honduras dollar became the official currency. Today, Belize’s official currency is the Belize dollar (abbreviated as BZD), and it is pegged to the US dollar.
This article will briefly discuss the history of Belize’s currencies. It will also discuss the exchange rate, the currencies that are currently accepted in Belize, and credit card usage in the country.
History of Belize Currency
Before getting into Belize’s current currency, it’s good to know about its previous currencies. Throughout history, Belize has been subject to ruling by Spain and colonization by Britain, and this has impacted the currencies used.
Before Belize’s current currency (the Belize dollar), there were two significant currencies:
- Spanish dollar (also known as Real de Plata in Spanish)
- British Honduras dollar
I’ll explain more about these previous currencies in more detail below:
The Spanish Dollar
The Spanish dollar was Belize’s official currency between 1765 and 1825. It was a currency used in Spain and many of its colonies during this time, so Belize wasn’t the only place using it.
For example, Mexico (a colony of Spain at the time) used the Spanish dollar (Real) and then adopted the Mexican Real.
Once the use of the Spanish dollar in Belize ended, the British Honduras dollar was introduced by the United Kingdom. When it was under their rule, the British called Belize British Honduras.
British Honduras Dollar
The British Honduras dollar was introduced in Belize after 1825. However, when this currency was used, Belize wasn’t yet named Belize.
Although Belize was only recognized as an independent state in 1981, it began using the current currency (Belize dollars) long before this and has used Belize dollars ever since.
Belize Currency Converted to Other Currencies
The Belize currency is pegged to the US dollar. So at all times, BZ$2 = US$1. However, it’s good to see how the Belize dollar converts to other currencies, such as the British pound or Euro.
Below is an exchange rate table for Belize dollars (as of 14 July 2022).
| 1 BZD | 0.50 USD |
| 1 BZD | 0.49 EUR |
| 1 BZD | 0.42 GBP |
| 1 BZD | 0.65 CAD |
| 1 BZD | 0.73 AUD |
| 1 BZD | 68.74 JPY |
Banking and Spending in Belize
When visiting Belize, you can use BZD banknotes and coins. They come in the following denominations:
- $2
- $5
- $10
- $20
- $50
- $100
Unlike the US dollar, Belize doesn’t have a $1 note. However, it Belize does have a $1 coin. See example of the Belize coins below:
If you are traveling to Belize at some point, you should always have cash. Most people in Belize don’t have credit cards, and many places will only accept cash. However, this shouldn’t be an issue because there are ATMs throughout the country, and many hotels and tourist spots will accept Visa and MasterCard.
If you have a MasterCard or Visa card, you shouldn’t have to worry about it not being accepted. American Express is accepted in bigger businesses, but don’t be surprised if smaller places can’t take it. So if you don’t have a major credit card, like MasterCard or Visa, it’s even more critical to ensure you have cash as a backup.
ATMs in Belize, especially the major banks, will accept most credit cards.
If you’re wondering how expensive it is in Belize, it will depend on where you’re coming from. For example, if you’re traveling from the US, Belize shouldn’t be too expensive because the general cost of living in the US is higher than in Belize. But if you’re visiting from Brazil or Mexico, it will likely be more expensive for you.
If you remain in the tourist areas, you’ll notice that the restaurants are more expensive. Some hotels can also be pricey, making Belize expensive for some US visitors. However, you will find some good deals if you try to visit local establishments and stay away from the major tourist hot spots.
If you want to experience the true Belize and pay local prices, you might want to ask the person at your hotel’s front desk what their favorite restaurants and leisure spots are.
It’s also a good idea to let your bank or credit card company know that you’ll be traveling. Otherwise, they might think there is fraud occurring due to international spending. As a result, they may freeze your card, which can be a nuisance to deal with, especially when you’re on vacation.
What Currencies Are Accepted in Belize?
Belize dollars and US dollars are accepted in Belize. Even though US dollars are not an official currency, you can use them throughout Belize. Therefore, you don’t need to exchange your US dollars for Belize dollars before visiting the country. However, you’ll receive change in Belize dollars.
You might be surprised if you pay for something in US dollars and receive change in Belize dollars, but this is standard procedure. If you prefer to use Belize dollars, you can exchange your US dollars before you leave or visit an ATM once you arrive.
When using an ATM in Belize, it’s best to go to an official bank. All banks in Belize are affiliated with banks in Europe and North America. Examples of official banks in Belize include Atlantic Bank and Belize Bank Limited. Here, you can safely withdraw cash.
Avoid anyone who tries to talk to you while using an ATM, as they might try to take your card or cash if you get distracted.
Final Thoughts
Belize has had different currencies over the last few centuries, but the current one is the Belize dollar. However, you don’t need to exchange US dollars for Belize dollars because US dollars are accepted throughout the country.
Most big businesses accept credit cards, but you should always carry cash because smaller businesses won’t accept cards. If you pay for something in US dollars, you can expect to receive the change in Belize dollars.
