Comprehensive Financial History Report of Belize

Basic Information

• Country ISO Code: BZ

• Official Language: English

• Language ISO Code: en

• Current Official Currency: Belize Dollar

• Currency ISO Code: BZD

Monetary History of Belize

The Belize dollar (BZD) has been the official currency of Belize since 1973, replacing the Belizean pound at par. The currency is pegged to the US dollar at a fixed rate of 2 BZD = 1 USD.

Early Currency

• Before 1973, Belize used the British Honduras pound, which was linked to the British pound sterling.

• The British Honduras pound was subdivided into 20 shillings, each with 12 pence.

• Coins and banknotes denominated in pounds circulated alongside other regional currencies.

Introduction of the Belize Dollar

• In 1973, Belize introduced the Belize dollar, decimalized into 100 cents.

• The Belize dollar replaced the British Honduras pound at par (1 BZD = 1 BHP).

• The currency has been pegged to the US dollar since its introduction at a fixed rate of 2 BZD = 1 USD.

Coins

• Coins are issued in denominations of 1, 5, 10, 25, and 50 cents, and 1 dollar.

• Early coins were made of bronze and cupro-nickel; newer issues include nickel-plated steel.

• Coin designs feature national symbols such as the Belize coat of arms, local wildlife, and cultural motifs.

Banknotes

• Banknotes are issued in denominations of 2, 5, 10, 20, 50, and 100 dollars.

• The $2 note is less common but remains legal tender.

• Banknotes feature images of national heroes, historical landmarks, and cultural symbols.

• The Central Bank of Belize is responsible for issuing currency and maintaining monetary stability.

Economic and Monetary Context

• Belize’s economy is based on agriculture, tourism, and services.

• The fixed exchange rate regime helps maintain monetary stability and encourages foreign investment.

• The Central Bank of Belize manages monetary policy, foreign reserves, and banking regulation.

Summary Table

This report provides a detailed overview of Belize’s monetary history, highlighting the Belize dollar as the official currency pegged to the US dollar, and its role in the country’s economic stability and cultural identity.