St Lucia Currency
Saint Lucia Currency
The beautiful island of Saint Lucia, set in the heart of the Caribbean, is a highly popular holiday destination. Although many holiday packages to Saint Lucia are offered as an all-inclusive deal, many visitors will enjoy partaking in day trips, shopping expeditions or meals at local restaurants during their stay. In order to make the most of these opportunities, it is advisable to obtain some Saint Lucia currency before or during your visit. Currency in Saint Lucia The currency in Saint Lucia, as shared by the other 7 states in the East Caribbean Currency Union, is the Eastern Caribbean Dollar – EC$. If you wish to plan ahead and exchange money before your trip, the EC$ is available in the majority of exchange bureaus in the UK or through online services. Alternatively, most major currencies can be can be exchanged on the island once you have arrived. All banks and most hotels are able to offer this service. The exchange rate from EC$ to GBP is approximately 4.2EC$ to 1 British pound. The EC$ currency in Saint Lucia is available in 5, 10, 20, 50 & 100 dollar bills and 1, 2, 5, 10 and 25 cent coins. More recently the addition of a 1 dollar coin has also entered circulation.
History
The history of the Saint Lucia currency is remarkably similar to the other British Eastern Caribbean colonies that now form the East Caribbean Currency Union. In 1851, the island adopted British sterling as the main currency in Saint Lucia, and began slowly pushing out the circulation of its predecessor – the Spanish and Mexican dollar (pieces of eight). In 1949, the introduction of the British West Indies dollar, as a standardised currency throughout the region, replaced the sterling as Saint Lucia currency. The West Indies dollar, however, was short lived and, in 1965, the East Caribbean States Dollar was established and circulated as the official currency in Saint Lucia, Antigua, Barbuda, Dominica, Grenada, St Kitts, Saint Vincent, Anguilla and Montserrat, who together form the East Caribbean Currency Union.
Alternative methods of payment
Alongside the local Saint Lucia currency, US dollars can also be used on the island and are usually accepted by hotels or taxi drivers as an alternative payment method. Please note however, if you are to use this alternative currency in Saint Lucia, it is essential you ensure you clarify with the other party that you are discussing the same currency when agreeing a price. I.e. - the seller agreeing a price in US$ whilst you understood the price to be in EC$. With the exchange rate being so different, a mistake with this could be costly or cause unnecessary dissatisfaction. The use and exchange of Travelers cheques are also commonplace in Saint Lucia. As traveler’s cheques are insured and not easily transferable, using them can provide a more secure way of obtaining Saint Lucia currency than carrying and exchanging cash. Larger hotels and all banks offer the service of exchanging traveler’s cheques and will often provide slightly better rates than exchanging pound or dollar notes. Additionally, the major credit card companies such as, Visa, MasterCard and American Express, are accepted across the island at hotels, higher end restaurants and boat and car hire companies. Often, exchange rates are most competitive when paying by card, although there is often an admin fee for using your card abroad. Cash machines are also widely available throughout Saint Lucia and will provide cash in local Saint Lucia currency.
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