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Issuer of Banknotes and Coins

Are torn banknotes legal tender and, in addition to multilated banknotes, are they redeemable? If so, what should I do?

Yes, as long as the salient features of the banknote are still present and the banknote can be mended without obscuring any of those important features. Small tears are natural and expected while a banknote is in circulation. Large tears, or missing portions may, however, render a banknote unfit, at which time it should be redeemed at the Central Bank. Multilated and torn banknotes may be redeemed in person between the hours of 9:30 a.m. to 3:00 p.m. Monday through Friday at the Bank's Cash Services Centre, provided they possess one complete serial number and at least 50% of the Governor's signature.

The Central Bank of The Bahamas has the sole right and authority to issue banknotes and coins, and as such is obligated to the holders of Bahamian banknotes and coins to honour payment in the respective amounts. Central Bank issued banknotes are the sole legal tender of The Bahamas in accordance with the Cental Bank of The Bahamas Act, 2000. Accordingly, the Central Bank of The Bahamas has no legal obligation to honour counterfeit money. Moreover, since the Bank really has no way of determining whether someone has received a counterfeit banknote by accident, or instead has purposefully attempted to defraud the banking system, holders of counterfeit currency are not reimbursed.

If you have determined that you have a counterfeit banknote, you should contact the Commercial Crime Section of the Criminal Investigation Department, Royal Bahamas Police Force at 322-4191. If you suspect a banknote to be counterfeit, you should contact the Cash Services Centre at the Central Bank of The Bahamas at telephone numbers: 302-2731 or 302-2732. A representative in that centre will route you to a banknote expert, who will help you determine if the banknote is counterfeit.

Yes. The $1/2 and $3 banknotes, and the 15-cent coin are still issued by the Bank. While many view these as collector's items, these denominations remain legal tender and readily availabe for issue.

Bahamas banknotes may not be reproduced by anyone for any reason without the expressed written permission of the Central Bank of The Bahamas. However, the Bank may, at its discretion, permit the display of banknote and coin images in printed format at no greater than 75% of their actual sizes.

Generally, the volume of banknotes and coins issued into circulation is a reflection of banks' demand for currency. This demand is influenced by such factors as: increased prices, seasonal increases in consumer spending during holiday and summer months, 'back-to-school', and pay periods.

According to the Central Bank of The Bahamas Act 2000, it is the sole right of the Central Bank to issue banknotes. Through the Central Bank of The Bahamas' Banking Department, banks request banknotes and coins according to their day-to-day needs, which are generally furnished upon request. Such transactions between the Central Bank and commercial banks are often carried out on a daily basis.

Bahamian dollar banknotes are printed by De la Rue, Basingstoke, Hampshire, England and Francois-Charles Oberthur, Paris, France while coins are minted by the Royal Canadian Mint, Ottawa, Ontario, Canada and Royal Mint, United Kingdom.