Belize Currency

In Belize what  is the unit of currency ?
The Belize Dollar!
One U.S. dollar equals two Belize dollars. For several decades now the Belize Dollar has been tied to the U.S. dollar at an official rate of two Belize Dollars to one US dollar. However, increased borrowing by government has led to growing pressure on this official exchange peg. A lively parallel market usually gives BZ$2.05 for U.S.1.00 Dollar. US dollars are gladly accepted throughout Belize. Thus visitors with US dollars do not need to worry about changing their money into Belize dollars - it doesn't make much sense.

Belize Dollars are generally worthless outside Belize and the few places that might change them, for example a foreign exchange abroad will offer little for it. Belize dollars are readily accepted in the towns immediately across the borders of Belize, at Melchor de Mencos in Guatemala and at border of Chetumal in Mexico. Strangely, the Belize Dollar is not accepted at the Corozal Free Zone inside Belize at the Northern Border. Only Mexican Pesos and the U.S. dollar are negotiable there.

Belize Currency!

Belize currency is printed at the British firm of Thomas De La Rue Ltd. All Belize bank notes feature a prominent image of Queen Elizabeth II on the front. Belize is a member of the British Commonwealth and has the Queen of England as Head of State.

Nationals of Belize are prohibited by law from holding U.S. dollar accounts - this is one way the government tries to shore up its Belize dollar. Belizeans - from the ordinary citizen to businessmen, must fill out special forms and apply to purchase foreign exchange for whatever reason - be it for emergency medical treatment abroad, or to pay for imports. The, government also taxes these purchases and the banks of course charge a commission. At times of high demand, the banks simply have no foreign exchange for regular customers. U.S. dollars are usually sold by the banks at a rate of 2.0175 Belize dollars for one U.S. dollar.

 

If you hold a Belize Passport but are a not domiciled in Belize (non dom), and thus classified as a non-resident, the law against owning or holding foreign exchange does not apply to you when entering Belize, but as noted above, you MUST declare money in any form or denomination equivalent to U.S. $5,000. or more that you are bringing into the country.

Visitors arriving by land from Mexico or Guatemala will encounter free-lance money changers, sometimes called "peseros" who will usually give you a better exchange compared to the banks. You will not have to fill out long forms with personal information or stand in line at a bank to get foreign exchange. These money changers are frowned upon, but tolerated by the authorities.