Relationship With The U.S. Dollar
The Bahamian dollar is pegged to the U.S. dollar on a one-to-one basis. The Central Bank of The Bahamas states that it uses reserve requirements, changes in the Bank discount rate and selective credit controls, supplemented by moral suasion as main instruments of monetary policy, the objective of which 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.
Although the U.S. dollar (as any other foreign currency) is subject to exchange control laws in The Bahamas, the parity between Bahamian dollars and U.S. dollars means that any business will accept either U.S. or Bahamian currency and many of the businesses that serve tourists have extra U.S. dollars on hand for the convenience of American tourists.
Read more about this topic: Bahamian Dollar
Famous quotes containing the words relationship with, relationship and/or dollar:
“Some [adolescent] girls are depressed because they have lost their warm, open relationship with their parents. They have loved and been loved by people whom they now must betray to fit into peer culture. Furthermore, they are discouraged by peers from expressing sadness at the loss of family relationships—even to say they are sad is to admit weakness and dependency.”
—Mary Pipher (20th century)
“Harvey: Oh, you kids these days, I’m telling you. You think the only relationship a man and a woman can have is a romantic one.
Gil: That sure is what we think. You got something better?
Harvey: Oh, romance is very nice. A good thing for youngsters like you, but Helene and I have found something we think is more appropriate to our stage of life—companionship.
Gil: Companionship? I’ve got a flea-bitten old hound at home who’ll give me that.”
—Tom Waldman (d. 1985)
“Johnny Clay: You like money. You got a great big dollar sign there where most women have a heart. So play it smart. Stay in character and you’ll have money. Plenty of it. George’ll have it and he’ll blow it on you. Probably buy himself a five-cent cigar.
Sherry Peatty: You don’t know me very well, Johnny. I wouldn’t think of letting George throw his money away on cigars.”
—Stanley Kubrick (b. 1928)