You’re sitting at a beachfront bar in Bequia, the sun is dipping low, and you’ve just ordered a Hairoun beer. The bill comes. You reach for your wallet, squinting at the numbers. Is that US dollars or EC? Honestly, this is where most visitors to St. Vincent and the Grenadines (SVG) get a little tripped up.
Understanding the currency for St. Vincent and the Grenadines isn’t just about knowing the exchange rate. It’s about not overpaying for a taxi in Kingstown or realizing why that "bargain" souvenir at the market wasn't actually a bargain.
The Eastern Caribbean Dollar: One Currency to Rule Them All
Basically, St. Vincent and the Grenadines uses the Eastern Caribbean Dollar (XCD). People locally just call it "EC" (pronounced ee-see).
You’ve probably seen this currency before if you’ve island-hopped. It’s shared by eight different places, including St. Lucia and Grenada. It’s pretty stable. In fact, it’s been pegged to the US Dollar at a fixed rate of $2.70 XCD to $1 USD since 1976.
That’s a long time.
Because of this peg, the math is fairly straightforward. If something costs $27 EC, it’s about $10 US. Most locals will do the 2.7 math in their head instantly, but if you’re at a street stall, they might just round it to 2.5 to keep things moving.
Why you should care about the "U"
If you look closely at older paper banknotes, you might see a tiny letter "V" or "U" on them. Historically, the Eastern Caribbean Central Bank (ECCB) used these to track which island the money was issued on. "V" was for St. Vincent. "U" was actually the code for Anguilla, but for a while, St. Vincent used a circled "U" overprint. Nowadays, with the newer polymer notes, those country codes have mostly faded into history, but it’s a cool bit of trivia for the "numismatists"—or coin nerds—among us.
Can You Just Use US Dollars?
Yes. Sorta.
Actually, US dollars are widely accepted across the Grenadines, especially in tourist-heavy spots like Mustique or Union Island. However, there's a catch.
If you pay in USD, you will almost always get your change back in EC dollars. And you probably won't get that "official" 2.7 rate. Most shops and restaurants use a "street rate" of 2.60 or 2.65. It doesn’t seem like much, but over a week-long vacation, those lost cents add up to a few extra rum punches.
Also, don’t even think about bringing US coins. Nobody wants them. They can't be exchanged at the local banks easily, so they're basically dead weight.
Cash is King (But Plastic is Learning to Fly)
If you’re staying at a high-end resort like Sandals Saint Vincent or a boutique hotel on Young Island, credit cards are totally fine. Visa and Mastercard are the big players here. American Express? It’s hit or miss.
But once you leave the resort bubble? You need cash.
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- Taxis: Most are unmetered. You need to agree on a price before the door shuts. And you’ll need EC or USD cash to pay the driver.
- The Kingstown Market: Try buying a bunch of local bananas or some "Vincy" spices with a credit card. It’s not happening.
- Tipping: While many resorts include a service charge, tipping 10-15% is standard for good service elsewhere.
Speaking of ATMs, you’ll find them in Kingstown (look for Republic Bank or RBTT on Halifax Street) and on the bigger islands like Bequia and Union. If you’re heading to the smaller cays, like Mayreau, get your cash beforehand. There are no ATMs on Mayreau. If you run out of money there, you're basically bartering or hoping a yacht captain takes pity on you.
The Modern "Plastic" Money
In 2019, the ECCB started rolling out polymer banknotes. They feel like thin, flexible plastic. Honestly, they’re great for the Caribbean. Why? Because they don’t get soggy. If you forget a $20 note in your pocket and jump into the turquoise waters of the Tobago Cays, it’ll be perfectly fine. Just dry it off.
These notes are also way harder to counterfeit. They have clear windows and holographic strips that are a nightmare for scammers to replicate.
Denominations to watch for:
- $5 (Green): Features Sir Arthur Lewis. Good for small snacks.
- $10 (Blue): Now features the portrait of the late Sir K. Dwight Venner on some versions.
- $20 (Purple): The workhorse of the islands.
- $50 (Orange): Features Sir K. Dwight Venner.
- $100 (Brown/Grey): High value. Don't expect a small "ti-shop" (convenience store) to have change for this.
Tipping Culture: Don't be "That" Tourist
Tipping in St. Vincent is appreciated but not quite the high-pressure sport it is in the US.
Most restaurants add a 10% service charge to the bill automatically. Check your receipt. If it’s there, you don't have to leave more, though most people leave another 5% in cash for the server if the service was actually good.
For taxi drivers, a 10-12% tip is the norm. At the airport, porters usually expect about $1 USD (or $2-3 EC) per bag.
One thing to watch out for at all-inclusive resorts: some have "no tipping" policies. At the Sandals in SVG, for example, staff can actually get in trouble for taking cash tips (except for butlers or spa staff). It's better to leave a glowing review with their name on it—that helps their career more than a hidden $5 bill.
A Quick History of "Bits" and "Dogs"
Long before the EC dollar, money in St. Vincent was a mess. In the 1700s and 1800s, they used everything from Spanish "Pieces of Eight" to British Sterling.
There was even a time when they used "Black Dogs." These weren't actual pets, but small French colonial coins that were counterstamped with "SV" for St. Vincent. They also used "Bits"—literally cutting Spanish silver dollars into pieces to make smaller change.
We’ve come a long way from cutting coins with a chisel. Today’s currency for St. Vincent and the Grenadines is a symbol of regional unity, managed by a central bank that has kept things remarkably stable through decades of hurricanes and global economic shifts.
Smart Money Moves for Your Trip
Don't wait until you're at the airport to think about cash.
First, tell your bank you're going to the Caribbean. There is nothing worse than having your card declined at a boat dock because your bank thinks someone stole your identity in the Grenadines.
Second, carry a mix. Keep some USD for major transitions and some EC for the daily "on the ground" stuff.
When you get to the airport or a local bank, exchange some USD for EC. You’ll get the better 2.67 or 2.68 rate rather than the 2.5 rate a souvenir shop might offer.
Lastly, keep your bills clean. Many Caribbean banks are incredibly picky about "mutilated" currency. If your US $20 bill has a tiny tear or a lot of ink marks, a local merchant might actually refuse it. They can't easily deposit damaged foreign bills at their bank, so they won't take the risk.
Pro Tip: If you have EC dollars left over at the end of your trip, spend them! Outside of the Eastern Caribbean islands, it is very difficult to exchange XCD back into other currencies without losing a huge chunk to fees. Buy that last bottle of Sunset Very Strong Rum at the duty-free—you won't regret it (well, maybe your head will the next morning).
Your SVG Financial Checklist
- Exchange Rate: $1 USD = $2.70 XCD (Official). $1 USD = $2.50-$2.60 XCD (Street).
- ATMs: Plentiful in Kingstown and Bequia; non-existent on Mayreau or the smaller cays.
- Cards: Visa/Mastercard accepted at hotels; cash is mandatory for taxis and markets.
- Tipping: 10-15% is the standard if not already included in the service charge.
- Currency Condition: Only bring crisp, clean USD bills with no tears or marks.
Navigate your spending by carrying about $200 USD in small denominations ($1s, $5s, and $10s) to use for the first day, then head to a local ATM to withdraw EC dollars for the rest of your stay to get the most value for your money.