Barbados was discovered by the Portuguese in the sixteenth century. Barbados became a British colony in 1627. The Windward Islands were established in 1833 and included Barbados, Grenada, St. Vincent and Tobago. St. Lucia joined the Winward Islands in 1838. In 1871, a federal constitution was established for the Leeward Islands, which included Antigua, St. Kitts, Montserrat, Dominica and the British Virgin Islands. In 1885, the Statute of the Windward Islands was rearranged and excluded Grenada, St. Lucia and St. Vincent. Dominica left the Leeward Islands group to rejoin the Windward Islands in 1940. The Federation of the Leeward Islands and the Federation of the Windward Islands were dissolved on December 31, 1956 and each island formed a separate administration. The Federation of the West Indies was established on January 3, 1958 and included Trinidad & Tobago, Jamaica, Barbados, Antigua, Dominica, Grenada, St. Lucia, St. Vincent, St. Kitts, Nevis, Anguilla, Montserrat as wella s the Cayman Islands and Turks & Caicos which had been administered after Jamaica until 1959. The independence of Trinidad & Tobago and of Jamaica led to the break up the Federation on May 31, 1962. Barbados gained its independence on November 29, 1966.
Spanish silver dollars cut into bits and French colonial base-metal coins circulated on Barbados in the eighteenth century. Some private copper tokens were issued in 1788 and 1792. The cut coins were withdrawn from circulation in 1838 and the Pound Sterling became the official currency in 1848.
United States Dollars (USD) and British Pound Sterling (GBP) circulated in Barbados until the creation of the British West Indies Dollar (XBWD) in 1935, equal to 1 US Dollar or 4.80 British Pounds Sterling. The Government of Barbados issued banknotes from 1938 until 1951. On August 1, 1951, the Board of Commissioners of Currency, British Caribbean Territories (Eastern Group) became the sole note-issuing authority for the British West Indies Dollar. The East Caribbean Dollar (XCD) replaced the British West Indies Dollar at par on October 6, 1965. Barbados introduced the Barbados Dollar (BBD) and replaced the East Caribbean Dollar on December 3, 1973 at par. The Central Bank of Barbados issues banknotes for Barbados. The Dollar is divisible into 100 Cents. |
