Belize Currency And Exchange Rate
The official currency of Belize is the Belize Dollar (BZD; symbol BZ$). The exchange rate is hard pegged to the US dollar at a fixed rate of BZ$2 to US$1. You can exchange currency at most banks and hotels. ATMs in Belize usually accept foreign cards. Additionally, many businesses accept US dollars. MasterCard, Visa and AMEX are widely accepted. The tourism sector is the leading industry in Belize, followed by the BPO industry (call centres) and the export of cane sugar, marine products, citrus and, bananas. See here for the new family of Belize Currency 2025.
A lively parallel informal market usually gives BZ$2.05 for U.S.1.00 Dollar. Visitors with US dollars do not need to worry about changing their money into local BZ dollars – it doesn’t make much sense. BZ Dollars are generally worthless outside Belize and the few places that might change them, for example at foreign exchange abroad will offer little for it.
Belize Currency Converter
There is no need for a BZ Currency Converter as the BZ Dollar by law is tied to the U.S. dollar at a fixed rate of Two BZ Dollars for One U.S. Dollar, i.e. One U.S. Dollar equals Two Belize Dollars. In practice the BZ Dollar is officially accepted at a slight fluctuation – usually $2.0175 BZ for one U.S. Dollar – but this really applies only when purchasing a bank draft for example. We advise expats and Belizeans not to purchase bank drafts. It is is better to keep your foreign exchange outside Belize in a bank in the U.S.A., Canada or Europe. That way you can purchase items abroad and have them shipped to Belize at a reduced cost.
On 2 May 2023 the Belize Central Bank instructed banks and financial institutions to accept US cash currency at the official rate of 2 Belize dollars for 1 US dollar. For some time now, these institutions had been giving slightly less, BZ$1.982 in exchange for 1 US dollar cash claiming the difference as processing expenses and part of their non-interest income service. This had led to businesses in Belize being reluctant to accept US currency as they would lose money in the conversion rate to Belize dollars when depositing US cash. Please note that the buying rate for all other US dollar denominated monetary instruments is unchanged at BZ$1.982 including remittances and incoming wire transfers.
Alert For Travelers to Belize
Belize Law allows travelers entering the country to bring with them a MAXIMUM of U.S. $5,000. be it in cash, checks or negotiable instruments. This limit is per adult individual. You MUST declare the total sum of money on your Disembarkation Card before presenting to the Belize Customs Authority at all air, sea or land entries.
Be Very Careful: Visitors entering Belize must make a customs declaration of any currency or financial instruments exceeding a total value of $5,000 U.S. dollars. Some travel writers classify Belize’s coercive currency controls as the equivalent of small town speed traps in the U.S.A.
Violation of the the above mentioned restrictions can lead to arrest and fines of TRIPLE the amount of undeclared funds. This information you will not easily find on Government or Belize Tourism Board websites but we include it here for your consideration.
Print The Money
Belize currency is printed at the British firm of Thomas De La Rue Ltd. All local bank notes feature a prominent image of Queen Elizabeth II on the front. Belize is a member of the British Commonwealth and has King Charles III 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 local currency.
Nationals and residents – from the regular 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 BZ 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 the country. However, 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.
If you are planning to live in Belize you may want to consider opening up a local offshore account before applying for residency or citizenship. An offshore account has many advantages one of which is the ability to deposit and withdraw your foreign exchange in cash or cheque without applying for permission from the government. Nationals and expats of course are free to open up offshore accounts outside of Belize. A popular place to open offshore accounts other than in Belize, is the Cayman Islands popular with the Belizean elite for second homes and to do business.
Belize Currency and Security Features
The principal security features of Belize bank notes are: 1. Watermark 2. Windowed security thread 3. See-through feature 4. Novel numbering 5. Intaglio 6. Intaglio over-foil feature 7. Multi-redundant Hologram 8. Actual Size: * $100 and $50 is 150mm x 75mm * $20 and $10 is 140mm x 70mm – source Belize.com Research and Central Bank of Belize.
Belize Currency History
Section 62 of the Central Bank of Belize Act empowers the Bank to issue those notes and coins issued under the Monetary Authority of Belize. “The Monetary Authority of Belize” notes, therefore are the liability of the Central Bank of Belize and are legal tender. On 1st January 1981, the Monetary Authority of Belize demonetized all those notes issued under the Currency Ordinance 1965 by the Board of Commissioners of Currency. “The Government of British Honduras” notes and “The Government of Belize” notes, therefore are not legal tender and are redeemable only at the Central Bank of Belize. While the first Belize currency notes under the Central Bank of Belize were issued in 1983, they maintained the design of those notes issued under the Monetary Authority.
In May 1990, however, the Central Bank put into circulation a new family of Belize currency notes. This family, captured the rich variety of Belizean wildlife, national culture and historic sites and highlighted some of the rare and endangered species of the birds and animals of Belize. Since then, this family has twice been upgraded to enhance its security; in 1998 and in this year, 2003. The main enhancements on the 1998 upgrade included two different sizes (one size for the $100 and $50 and another for the lower denominations), two different watermarks; the Jaguar and the Sleeping Giant, a hologram on the $100 denomination, a foil feature on the $50 denominations and a stardust windowed security thread on all denominations. The 2003 upgrade consisted of an intaglio overprint (the periwinkle flower) on the hologram on the $100 denomination only, a wider security thread and the denominational value (under the watermark) incorporated in the notepaper of all denominations.
New Family of Currency Notes
The Prime Minister announced in September 2024 and the Central Bank made it official: Belize has new currency notes in 2025 featuring the image of National Heroes George Price and Phillip Goldson in place of the sovereign King Charles III.
“This new family of notes will tell unique stories of our country’s rich heritage and will incorporate enhanced security features to combat counterfeiting. To preview, the new designs will honour recipients of the “Order of National Hero”, Rt. Honourable George Cadle Price and Honourable Philip Goldson. It is common practice for nations to honour notable country heroes and heroines by placing their images on banknotes. In fact, throughout the region and the world, several former colonies have incorporated such images on their banknotes. These images have not impacted the value of the currency.
“Prior to the circulation of the new banknotes, there will be a period of transition, providing ample time for the public to view and learn about the notes. The new designs will be unveiled in early 2025, while the new banknotes will be circulated later in the year.
“The Central Bank assures the public that the value of the Belizean dollar remains strong. Since 1976, the Belize dollar has been pegged to the US dollar at a rate of BZ$2.00 to US$1.00. The Central Bank has maintained this peg through keen management of the country’s foreign exchange reserves.”
The new currency notes were unveiled to the public on 23 January 2025. The new currency notes enter circulation in June. The 100-, 20-, and five-dollar bills feature George Cadle Price, the first premier and first prime minister of the Central American country and the key figure in its independence from British rule. George Price is regarded as the Father Of The Nation. Meanwhile, the 50-, 10-, and two-dollar bills depict Philip Goldson, a founding member of the United Democratic Party, widely honored as a symbol of national pride.
Below is the front of the new Belize $100. note. The new $100 banknote features marine attractions and aquatic life of Belize imagery, along with portrait of the Rt. Hon. George Cadle Price, national hero of Belize.
Marine attractions and aquatic life imagery featured on the $100 note:
Queen Triggerfish (Balistes Vetula), featured as the front center image. Hawksbill Sea Turtle, featured on the holographic foil stripe and as the back left image. Great Blue Hole, featured as the back background image. Nurse Shark (Ginglymostoma Cirratum) featured as the back right image. Pair of French Angelfish, featured as the back lower right image. Grooved Brain Coral (Diploria Labyrinthiformis), featured as the back lower left image. Longsnout/Slender Seahorse, featured on the back security thread.
Below is the new $50. Belize currency note. The new $50 banknote features archaeological attractions of Belize imagery, along with portrait of the Hon. Philip Goldson, national hero of Belize.
Archaeological attractions featured on the $50 note:
Mask Temple, Lamanai, featured on the holographic foil stripe and the front center image. Top of Caana, Caracol, featured as the back left image. Xunantunich Maya Ruin, featured as the back center image. Segment of the Xunantunich East Freize, featured as the back right image