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#351750 - 09/17/09 06:24 PM Canadian Dollar
champion Offline
On one of my trips to Belize, I took Canadian money too thinking that the exchange would be no big deal. Wrong. My thoughts of Belize, Cananda both commonwealth nations, the exchange would be a no brainer, wrong. Why ???
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#351751 - 09/17/09 06:44 PM Re: Canadian Dollar [Re: champion]
SimonB Offline
There is very little input of Canadian Dollars into the Belize money market and very little reason for the government to hold Canadian Dollars as almost all debts are paid in US dollars.

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#351753 - 09/17/09 06:51 PM Re: Canadian Dollar [Re: champion]
ragman Offline
I'll take a guess at this I'm no expert in this area.

1. Many more visitors/part time residents from US than Canada.

2. US Currency is an internationally accepted currency and there just isn't much Canadian currency in Belize.

3. The Belize dollar is pegged to the US dollar. They always know the valve and exchange rate.

4. Probably a lot of Belizian wealth is in US Banks.


What did I miss? and how close I'm I??

I was on the phone and Simond posted so he agrees with at least one.



Edited by ragman (09/17/09 06:55 PM)
Edit Reason: Simond post
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Jim
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#351757 - 09/17/09 07:16 PM Re: Canadian Dollar [Re: ragman]
Moose In Belize Offline
The other point that you missed is that the majority of Canadians travel to foreign countries with US currency. We know that it is accepted. Canadian dollars generally aren't even accepted in the US.

Off topic. A big difference between Belize and some other Caribbean countries is that Belizean merchants give change in Belizean dollars when paid with US$, whereas many merchants in Jamaica, Dominican, etc. will give change in US$ when paid in US$. Much easier for the traveller to get US$ back.
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#351758 - 09/17/09 07:23 PM Re: Canadian Dollar [Re: Moose In Belize]
ragman Offline
Moose, I read a few months ago, I think that the US is Belize's largest trading partner. If that is so then it would stand to reason the US currency would be easier.
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Jim
Somewhere on a beach in Belize

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