The dollar (sign: $; code: BSD) has been the currency of The Bahamas since 1966. It is normally abbreviated with the dollar sign $, or alternatively B$ to distinguish it from other dollar-denominated currencies. It is divided into 100 cents.
The Bahamian dollar is pegged to the U.S. dollar on a one-to-one basis. The Central Bank of The Bahamas' objective is to keep stable conditions, including credit, in order to maintain the parity between the U.S. dollar and the Bahamian dollar while allowing economic development to proceed.
The dollar replaced the pound at a rate of 1 dollar = 7 shillings in 1966. This rate allowed the establishment of parity with the U.S. dollar, due to the sterling/dollar rate then being fixed at £1 = $2.80. To aid in decimalisation, three-dollar bills and fifteen-cent coins were created, as three dollars was roughly equivalent to one pound, and fifteen cents to a shilling, at the time of transition.