The local currency is the Bahamian dollar (B$) , divided into 100 cents. Coins come in denominations of 5, 10, 15, 20 and 50 cents, as well as $1 and $2. Notes are issued in denominations of $1, $3, $5, $10, $20, $50 and $100. The Bahamian dollar is on a par with the US dollar, and both currencies are accepted throughout the country. Because all hotels and tourist facilities freely exchange both US and Bahamian currency, there is little need to formally change US dollars before travelling here. Big islands like New Providence, Grand Bahama and Abaco have major banks and financial institutions near the tourist centres, and offer numerous ATMs as well.

Many Out Islands have few, if any, banks and most have no ATMs, so it's best to visit these more remote islands with credit cards and travellers' cheques. Credit cards are widely accepted throughout the islands, except at some of the more isolated lodges, and are almost always required to reserve and rent automobiles.

Costs on the major islands are comparable to US prices. Hotels , save for motel-style lodges in downtown areas of major cities, average at least US$95-125 per night for a double room, while luxury resorts charge up to 25 percent more. Some Out Island lodges are less expensive, though the costs of food and transportation in the Out Islands are greater because goods and services are imported. Many resorts and hotels offer all-inclusive packages or three-day/seven-day rates, which can reduce costs considerably, and at least a few hotels at every destination offer self-catering options, which may also lower costs, especially for longer-term stays.  

 Also See: