US dollar to Barbados dollar converter 2026

The Barbados dollar has been pegged to the US dollar at Bds$2 to 1 since 5 July 1975. The Central Bank of Barbados describes the rate as fixed, so US$1 is always Bds$2 at the official parity.

What changes the final amount is the Foreign Exchange Fee. The Central Bank sets it at 2%, charged on the Barbados dollar value of purchases of foreign currency and payments related to foreign currency.

How it's calculated

Value at the peg: the US dollar amount multiplied by Bds$2.
Foreign exchange fee: 2% of that Barbados dollar value when you buy foreign cash, send a wire, buy a bank draft or pay for a foreign transaction by card.
No fee when you convert foreign cash into Barbados dollars, deposit a foreign bank draft or receive a wire transfer.
Banks and dealers set their own buying and selling rates close to the peg, so the counter rate can differ a little from the parity.

An example

To buy US$500 in cash, the value at the peg is Bds$1,000.00. The 2% fee adds Bds$20.00, so you pay Bds$1,020.00. If you receive US$500 from abroad and convert it, there is no fee and you get Bds$1,000.00 at parity.

Frequently asked questions

What is the exchange rate between the US dollar and the Barbados dollar?

The Central Bank of Barbados keeps the Barbados dollar pegged at Bds$2 to 1 US dollar, a rate it has held since 1975.

What is the Foreign Exchange Fee?

The Central Bank FAQ describes it as a 2% fee on purchases of foreign currency and payments related to foreign currency, calculated on the Barbados dollar value.

When is the fee not charged?

The Central Bank says it applies to purchases and payments only. Converting foreign cash to local money, depositing a foreign bank draft or receiving a wire transfer do not carry it.

Key terms

Peg: A fixed exchange rate that the central bank commits to defend.
Foreign Exchange Fee: A 2% charge on purchases of and payments in foreign currency.
Parity: The official rate of Bds$2 Barbados dollars for one US dollar.