Recession-Proof Travel: 17 Currencies That Are Pegged to the US Dollar

12/2/08  Print This Post Print This Post    12 Comments   Popular   Written by Eva Holland
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Bahrainian dinars, also known as rubias. Photo by Ahmed Rabea.

Fear not, American travelers! No matter what happens next, here are 17 currencies in 22 different countries, where your dollar’s value won’t change any time soon.
The Netherlands Antilles

In the eastern Caribbean, this island group is made up of Curacao, Bonaire, Saba, St. Eustatius and Sint Maarten. The national currency, the Netherlands Antillean guilder, is pegged to the USD at a rate of 1.79 to 1.

All the islands are tourist magnets; their infrastructure is better developed than many other island nations in the region, thanks in part to support from the Dutch government. Bonaire and Curacao have the added bonus of being below the hurricane belt.

Their close cousin, Aruba, another one-time Dutch colony, also pegs its Aruban florin to the USD at the same rate.

Tourists explore Petra, Jordan. Photo by bribriTO.

Jordan

Jordan’s been drawing tourists for years thanks to its relative stability and fabulous archaeological sites. The Jordanian dinar is pegged to the USD at a rate of 0.709 to 1.

Several other Middle Eastern countries have also hitched their currencies to the USD. Bahrain’s dinar clocks in at 0.376 to 1, Lebanon’s pound is pegged at 1507.5 to 1, and Oman’s rial is set at 0.3845 to 1.

In Qatar, the rial is pegged at 3.64 to 1, and if you can get your hands on a tourist visa for Saudi Arabia, you’ll enjoy a riyal pegged at 3.75 to 1 there. Finally, Dubai and the rest of the United Arab Emirates have pegged the Emirati dirham at 3.67 to 1.

Barbados

Ah, lovely Barbados. With progressive laws on public beach access and a government intent on defending local culture as best it can, it’s done a better job than most Caribbean islands of resisting total resortification. It’s also got a dollar that’s pegged to the USD at a rate of 2 to 1.

Elsewhere in the eastern Caribbean, the Trinidad and Tobago dollar is steady at 6.33 to 1. The eastern Caribbean dollar, the currency used by Antigua, Dominica, St. Kitts, St. Lucia, St. Vincent and the Grenadines, and Grenada, is also fixed at a rate of 2.7 to 1.

Lonely paradise on a Maldive island. Photo by Nattu.

Maldives

This Indian Ocean paradise may be one of the first nations to vanish under the rising waters of climate change – but until that happens, you can still enjoy the Maldivian rufiyaa at a fixed rate of 12.8 to 1 USD.

Belize

A rising star in Central American travel, Belize has pegged its dollar at 2 to 1. Neighboring Venezuela is a little further from the travel mainstream, thanks to the antics of its leader, Hugo Chavez. Still, if you decide to head that way, you’ll find the Venezuelan bolivar fixed at 2.15 to 1.

The Bahamas

As one of the wealthiest nations in the Caribbean, the Bahamas aren’t necessarily cheap. They are, however, stable and predictable: the Bahamian dollar is pegged to the USD at a rate of 1 to 1.

Residential high-rises in Hong Kong. Photo by Charles Lam.

Hong Kong

One of the great metropolises of the world, Hong Kong is a hectic, brightly-lit intersection of West and East. The HK dollar is pegged to the USD at a rate of 7.8 to 1.

Community Connection

For more information on travel to some of these countries, check out our Caribbean guides to Barbados, Dominica or Bequia, in St. Vincent and the Grenadines.

The Matador Network’s also got a guide to Belize’s Caye Caulker, and a few essays about travel in the Middle East: try How Teaching in Oman Taught Me the Shades of Islam, or Hidden Kingdom: Understanding Women’s Rights in Saudi Arabia.


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About the Author

Matador ID: deva

Eva Holland is co-editor of Matador Pulse and a regular contributor to the Matador Network. She's also a contributing editor at World Hum. Eva recently quit her day job and gave notice on her apartment, and is currently bouncing around Eastern Ontario, Quebec and upstate New York.

12 Comments... join the discussion!

  • Nomadic Matt replied on December 6, 2008

    You should add cambodia there. The US dollar is the official currency and ATMs give out dollars!

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  • Eva replied on December 7, 2008

    Hey Matt, the CIA World Factbook lists the Cambodian riel as the official currency? And it's not traded at a fixed rate to the dollar. So the ATMs must be spitting out dollars at varying rates over time – still convenient though!!

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  • William replied on December 11, 2008

    Or, if you can put up with the plane tickets. Go to australia where the AU$1 = US$0.64.

    (Report comment)

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  • Tina replied on December 23, 2008

    Ecuador also uses the USD as their currency. Bring a roll of dollar coins… they love using them and it's handy for everything from tips to taxis.

    (Report comment)

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  • ephil replied on February 7, 2009

    Panama has used the US dollar for longer! They sometimes call them 'Balboas' but they are US dollars. Does anybody know where to find a COMPREHENSIVE list?

    (Report comment)

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  • Tim replied on February 23, 2009

    7, not 17

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  • Eva replied on February 23, 2009

    Nope, 17. See, there are smaller words in bold, too.

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  • | body detox replied on August 1, 2009

    the Economic Recession made a lot of people jobless but at least there is some good progress on the economy this year. i just hope that the economy will continue to recover in the following months and years.

    (Report comment)

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  • Jess replied on August 16, 2009

    i am hoping that the global economy would recover from this economic recession. life has been very hard with these massive job cuts.

    (Report comment)

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  • Janet Reyen replied on December 8, 2009

    Our country was also hit hard by the Economic Recession. At least we are seeing some signs of economic recovery now. I hope that we could recover soon from this recession.
    .z……

    (Report comment)

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  • Arthur Smith replied on February 18, 2010

    during the height of the economic recession, our online and offline business in the US have suffered some major drop in sales. now our sales are getting slowly back to normal.

    (Report comment)

    ↵ Reply
  • Julia Mitchell replied on April 28, 2010

    Our home business was really affected by the Economic recession, we have to cut jobs just to cover up our losses. fortunately, we have already recovered. ‘

    (Report comment)

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