Despite being a British Overseas Territory, the official currency of the British Virgin Islands (BVI) is the United States Dollar (USD). The BVI adopted the U.S. Dollar in 1959, primarily due to its close proximity and strong economic ties to the neighboring United States Virgin Islands (USVI) and the broader Caribbean basin. This means that travelers from the U.S. do not need to worry about exchange rates or currency conversions when visiting Tortola, Virgin Gorda, or Jost Van Dyke. While the islands do issue their own BVI coins occasionally as collectors' items or for commemorative purposes, the actual money used in daily commerce for groceries, restaurants, and tours is standard U.S. banknotes and coins. It is worth noting that while credit cards are widely accepted in larger resorts and high-end restaurants, many of the smaller "beach bars" and local vendors on the smaller islands are "cash only," so it is always a good idea to carry smaller denominations of USD. Additionally, travelers from the UK or Europe should be aware that the British Pound Sterling is not accepted as legal tender in the territory and would need to be exchanged at a bank.