GYD

GYD, the Guyanese dollar, is the official currency of Guyana. The ISO 4217 code for the currency is GYD, and the currency is commonly represented by the symbol G$, though it is also just written as GY$. It is subdivided into 100 cents. The Bank of Guyana, the country’s central bank, is responsible for issuing and regulating the currency, with banknotes and coins issued in a range of denominations for everyday use.

GYD is used across Guyana as the primary medium of exchange for most transactions, from retail purchases to services. Its value is determined by foreign exchange markets and is influenced by monetary policy conducted by the Bank of Guyana. The central bank may intervene in currency markets to manage liquidity and control inflation, within the framework of its monetary policy objectives. Like many small economies, Guyana’s currency can exhibit volatility in response to global commodity prices, capital flows, and regional economic conditions.

Historically, the Guyanese dollar was introduced in the 1960s after independence, replacing the British Guiana dollar at parity. Since then, it has remained the sole legal tender for domestic transactions in Guyana, with periodic updates to banknotes and coins to reflect economic and security considerations.

In international finance and data reporting, GYD is the currency code used to represent Guyanese dollars. Outside of official usage, US dollars are commonly encountered in some border areas and in tourism-related transactions, though the official currency remains the Guyanese dollar.