There are a number of currencies serving multiple territories; the most widespread are the East Caribbean dollar (8 countries and territories), the United States dollar (5) and the euro (4).
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But most widely accepted throughout the Caribbean is the U.S. dollar. It is the legal currency of the U.S. Virgin Islands, the British Virgin Islands, and Puerto Rico, and will be recognized just about anywhere you go. As such, throughout this guide, prices are listed in U.S. dollars.
There are 13 currencies in use across the Caribbean, such as the Mexican Peso, the Barbadian Dollar and even the US Dollar! Check our individual destination guides for the best currency for your Caribbean holiday.
Cayman Island DollarCayman Island Dollar is indicated by KYD symbol and is included in the highest currency in the world list. The value of one KYD is equal to 98.40 INR. A lot of people may not be aware but the Cayman Island Dollar is one of the strongest Caribbean currency.
Visiting the Caribbean islands, a valid passport is required. You may also require a visa, depending upon the country of issue of your passport. You must check to be sure “do I need a visa” to enter my destination country.
Most shops and restaurants in Barbados are happy to accept US dollars as well as BBD, but you'll always get more for your money when paying in Barbadian dollars. You'll also receive any change in BBD, not USD.
A relatively low cost of living is one benefit that attracts expats to the Caribbean islands. The most expensive place to live in the Caribbean is the Bahamas, with estimated monthly costs for one person above $900. In most countries, average estimated costs are lower than $650.