The Eastern Caribbean Dollar: Grenada's National Currency

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Aug 29, 2021
2 min read

Updated: Aug 20

What Currency is Used in Grenada? (Grenada Money Explained)

If you’re planning a trip to Grenada, one of the first things you’ll want to know is: “What currency is used in Grenada?” The official currency of Grenada is the Eastern Caribbean Dollar (XCD), also commonly written as EC$.

The Eastern Caribbean Dollar is used in eight islands that make up the Organization of Eastern Caribbean States (OECS), including:

Grenada
Antigua and Barbuda
Saint Lucia
Dominica
Saint Kitts and Nevis
Saint Vincent and the Grenadines
Montserrat
Anguilla

Grenada’s Currency: The Eastern Caribbean Dollar (XCD)

Currency Name: Eastern Caribbean Dollar
Currency Code: XCD
Currency Symbol: EC$
Pegged to the U.S. Dollar: EC$2.70 = US$1.00 (fixed since 1976)

The XCD replaced the British West Indian Dollar in 1965. Today, it is used across Grenada for all financial transactions, from shopping and dining to hotel payments and transportation.

Eastern Caribbean Dollar Banknotes and Coins

The Eastern Caribbean Central Bank (ECCB) is responsible for printing and distributing banknotes and coins.

Banknotes

EC$10
EC$20
EC$50
EC$100

Coins

EC$1
10 cents
5 cents

💡 Note: The 1 cent and 2 cent coins were eliminated in 2015 and officially removed from circulation in 2020.

Design of Grenada’s Currency

Banknotes & Coins: Feature Queen Elizabeth II on the front face.
The $50 note is special as it is a commemorative note in celebration of Grenada's 50th independence. The note has several historical figures including Kirani James (Grenada's first gold medalist at the Olympics in 2012). The note is legal tender throughout the island and the OECS.
Security features are embedded to prevent counterfeiting.
Bright colors and clear denominations make them easy to recognize.

Currency Exchange in Grenada

Visitors to Grenada can easily exchange international currencies at banks (Republic Bank, ACB or Grenada Co-operative Bank) and most credit unions. Commonly exchanged currencies include:

U.S. Dollar (USD)
Canadian Dollar (CAD) - the exchange rate can range between $EC1.90 to $EC 2.00 = $1.00 CAN. The exchange rate is dependent on the money market at any given time.
British Pound (GBP) - the exchange rate can range between $E.C 3.20 to $E.C. $4.50 = $1.00 GBP

Many hotels, restaurants, and shops also accept U.S. dollars, though change is usually given in EC$.

Useful Tips for Travelers

Bring U.S. Dollars: Since the XCD is pegged to the U.S. dollar, it is widely accepted, and conversion is straightforward.
ATMs in Grenada: Most ATMs dispense EC$ directly.
Credit Cards: Accepted at major hotels, resorts, and some larger businesses, but smaller vendors often prefer cash in EC$.
Know the Conversion Rate: Fixed at EC$2.70 = US$1.00 since 1976.

Final Thoughts

Grenada’s official currency is the Eastern Caribbean Dollar (XCD), shared with other OECS member states. With its stable peg to the U.S. dollar and wide acceptance across the island, managing money in Grenada is simple for both tourists and locals.

Whether you’re exchanging foreign currency at a bank, withdrawing from an ATM, or paying in U.S. dollars, navigating the Grenada currency system is straightforward and traveler-friendly.