Currency Information on Belize Dollars
Currency Information on Belize Dollars - BZD — Belize Dollar – BZ$
Belize dollar coins are available in denominations of 1, 5, 10, 25 and 50 dollars, whilst banknotes are circulated in denominations of 2, 5, 10, 20, 50 and 100 dollars. Like most currencies, 1 dollar is subdivided into 100 cents and the official value of the Belize dollar has been pegged at 0.50 USD since 1978.
In the nineteenth century, Belize, then known as British Honduras used the British monetary system, but Guatemala’s silver peso replaced the British currency after the 1873 silver crisis, which had negative repercussions for British Honduras’ currency value, so they decided to introduce the new dollar currency to increase their value and reach higher standards.
This brought the currency into line with Canada, who were at the gold standard (1 Canadian Dollar was equal to 1 US Dollar). The gold standard was abandoned by the United Kingdom in 1931, when British Honduras decided that their currency would remain attached to the dollar, rather than becoming part of the sterling bloc.