Currency in Guyana: Paying, ATM; Exchanging money, etc…

Guyana's currency: ATMs, exchange rates, and paying your way.

Planning a trip to Guyana and wondering how to handle your money? Navigating a new country's currency can feel daunting, but it doesn't have to be. This article is your essential guide to understanding and using the Guyanese Dollar (GYD).

We'll cover everything you need to know, from where and how to exchange your money to the ins and outs of using ATMs and making payments across Guyana. Get ready to explore the Land of Six Peoples with confidence, knowing your finances are sorted.

Essentials

Guyanese Dollar (GYD): The official currency is the Guyanese Dollar, essential for all transactions.
ATM Availability: ATMs are increasingly common in major cities like Georgetown, but access may be limited elsewhere.
Money Exchange: Exchanging foreign currency is best done at authorized banks or cambios for competitive rates.
Payment Methods: While cash is king, credit and debit cards are accepted in larger establishments and tourist areas.

Understanding Guyanese Currency

The Guyanese Dollar (GYD)

The official currency is the Guyanese Dollar, abbreviated as GYD or G$.
Common banknotes you will handle are the G$100, G$500, G$1000, and G$5000.
Coins in circulation include G$1, G$5, and G$10, though as a traveler, you will encounter them less frequently.
The G$20 and G$50 notes are also in circulation but are not as common.

US Dollars (USD) in Guyana

The US Dollar is widely accepted, particularly for tourism-related expenses such as hotels, pre-booked tours, and internal flights. Many of our partner lodges and tour operators quote their prices directly in USD for convenience.

We advise bringing a supply of clean, untorn US Dollar notes in various denominations. Bills that are damaged, heavily marked, or torn may be rejected by vendors.

It is important to note that even when you pay for an item in USD, you will almost always receive your change in Guyanese Dollars (GYD).

Methods of Payment

Cash: Your Primary Tool

Cash remains the dominant and most reliable form of payment throughout Guyana. It is essential for transactions in local markets, small restaurants known as “cook-shops,” taxis, minibuses, and nearly all purchases made outside of Georgetown.

We strongly recommend carrying a sufficient amount of GYD, especially in smaller denominations, to cover your daily expenses with ease.

Credit & Debit Cards

Where they work: You can typically use cards at major hotels, car rental agencies, large supermarkets, and more upscale restaurants within Georgetown.
Where they don’t: Do not rely on card payments once you leave the major urban centers. They are not accepted in most local businesses and are entirely unusable in the interior regions.
Accepted Cards: Visa and MasterCard are the most widely recognized. Acceptance of American Express is rare.
Important: To ensure uninterrupted service, please notify your bank of your travel dates before you depart. This prevents your card from being flagged for suspicious activity. It is also wise to inquire about any foreign transaction fees your bank may charge.

Accessing Your Money: ATMs

Availability and Locations

In Georgetown, ATMs are readily available at major banks like Scotiabank, Republic Bank, and GBTI (Guyana Bank for Trade and Industry). However, once you travel to towns outside the capital, ATM availability becomes extremely limited. In the interior and remote Amerindian villages, they are non-existent.

A critical note for your planning: You must withdraw all the cash you anticipate needing for your entire time in the interior *before* you leave Georgetown. Access to cash beyond the capital is not possible.

Using ATMs: Fees and Limits

Most bank ATMs accept international cards connected to the Cirrus or Plus networks.
Be aware that daily withdrawal limits are often lower than what you may be used to, typically around G$60,000 to G$80,000 per transaction.
You can expect to be charged a local ATM fee for each transaction, which is in addition to any fees charged by your own financial institution.

ATM Safety

For your security, please use ATMs located inside a bank during opening hours or in a well-lit, public area.
Always be aware of your surroundings when conducting a transaction and carefully conceal your PIN.
If a machine appears to have been tampered with or looks unusual, do not use it and find an alternative.

Exchanging Currency

Where to Exchange Money Safely

Licensed Cambios: These currency exchange offices are your best option. They are common in Georgetown and consistently offer the most favorable exchange rates. We recommend asking your guide or hotel concierge for a recommendation of a reputable cambio.
Commercial Banks: While perfectly safe, exchanging money at a major bank can be a slower process, and the rates are often slightly less favorable than at a cambio.
Hotels: Exchanging currency at your hotel is convenient but offers the least favorable rates. This option should only be used as a last resort for small amounts.

What to Avoid

Street Exchangers: Never exchange money with individuals on the street. This practice is illegal, and it carries a high risk of receiving counterfeit currency or being short-changed.
Airport Exchange: The exchange rates offered at Cheddi Jagan International Airport (GEO) are not competitive. If you must, exchange only a very small amount upon arrival, enough for immediate transport to your hotel.

Exchange Tips

You will be required to present your passport to exchange currency at any official establishment.
The US Dollar is the most easily exchanged foreign currency. Other major currencies

Takeaways

Currency: The primary currency in Guyana is the Guyanese Dollar (GYD).
Exchanging Money: You can exchange foreign currency at banks and authorized cambios (exchange bureaus) in Guyana.
ATMs: ATMs are available in major cities and towns, but it's advisable to carry some cash, especially when traveling to more rural areas.
Payment Methods: While cash is widely accepted, credit and debit cards are becoming more common in tourist areas and larger establishments.

Navigating Guyana's currency, from ATMs to exchange, is a straightforward process that enhances your travel experience. With a little preparation, you'll find paying for goods and services, and managing your money, becomes a seamless part of your Guyanese adventure.