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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

History

Coins

Banknotes

See also

External links

History

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

Main articles: Coins of the Belize dollar

Coins in circulation

★ 1 cent

★ 5 cents

★ 10 cents

★ 25 cents (known as a "shilling")

★ 50 cents

★ 1 dollar

Banknotes

Banknotes in circulation

★ 2 dollars

★ 5 dollars

★ 10 dollars

★ 20 dollars

★ 50 dollars

★ 100 dollars

See also

★ Economy of Belize

External links

★ Banknotes and Coins, Central Bank of Belize