Foreign Places That Accept U.S. Currency

Ecuador's currency has a long history. First, Ecuador used the peso, then enjoyed a brief dalliance with the franco, before reverting to the peso, and finally adopted the sucre, whose value nosedived in the late 1990s during a near economic collapse.

In 2000, to stabilize the economy, the Ecuadorian government adopted the U.S. dollar as its official currency. The controversial vote led to the ousting of then-President Jamil Mahuad, but the result was inevitable: U.S. travelers to Ecuador can now use the very same dollars they would at home.

What's better than one official currency? Two, of course. In addition to its Panamanian balboa, Panama accepts the U.S. dollar "at par" (a rate of 1:1). This means that travelers don't have to worry about exchanging money in foreign airports or dealing with fluctuating exchange rates—making Panama a relatively economical destination.

Like the Panamanian balboa, the Bahamian dollar enjoys a fixed 1:1 exchange rate with the USD (and the two currencies share a name and a familiar symbol, $). Despite the equitable rate, it may not get you far in this popular (and oft-expensive) tropical destination.

Accommodations can be pricey, but they are abundant, ranging from super-luxe all-inclusive resorts to more budget-friendly boutique hotels.

Turks and Caicos is a popular destination for tourists drawn to its white sand beaches and clear waters—and American visitors will be pleased to learn that the US Dollar is the official currency here. In addition, there is no sales tax or VAT (value-added tax). It may not be the shopping mecca of St. Thomas or St. Maarten, but the island of Providenciales boasts upscale malls and local boutiques, where those U.S. dollars can be spent on handmade artwork and jewelry.

Cambodia remains one of Southeast Asia’s most budget-friendly destinations, and U.S. dollars are still the go-to currency for visitors. Prices in hotels, restaurants, and many shops are typically listed in dollars, and ATMs often dispense them directly. You can easily travel on under $100 a day, making it accessible for budget-conscious explorers.

It’s useful to keep a small stash of Cambodian riel on hand—about $10 to $15 worth—for things like tuk-tuk rides, small purchases at markets, or when you need exact change. Even if you pay in USD, you’ll likely receive change in riel, so be prepared to do some quick mental currency conversion unless you’re paying with the exact amount.

Nicaragua has been on our radar this year for its diverse natural wonders and relative affordability. The Central American nation has its own currency, the colorful cordoba, but payment in U.S. dollars is widely accepted throughout the country.

Don't be surprised if the price goes up the minute you pull out a stack of greenbacks, though: According to some experts, shopkeepers may charge you a bit more when paying in U.S. dollars. If you plan to use U.S. dollars, ensure your cash is in good condition, as wrinkled or marked bills may not be accepted.

Belize’s legal tender (the Belizean dollar) has long been pegged to the U.S. dollar at a 2:1 ratio. This makes beachy Belize one of the priciest Central American nations but, curiously, one of the cheapest destinations on the Caribbean Sea.

Be aware that although many businesses accept U.S. bills, prices in Belize may be quoted in either the official currency or in USD. It's wise to ask your tour operator or shopkeeper about their pricing method before you whip out your wallet—especially since the two currencies share the same symbol for the dollar sign.

While not technically a foreign country (it's an unincorporated organized territory), the United States Virgin Islands feel like a million miles away—and we couldn't resist including this Caribbean destination. A speedy 2.5-hour flight from Miami whisks stateside trekkers to the Virgin Islands, where U.S. passports are unnecessary. The popular tropical stop's official currency is the U.S. dollar—handy for those looking to splurge on expensive goods in St. Thomas' portside boutiques. High-end labels like Gucci and Coach crowd Charlotte Amalie, where savvy shoppers swarm the jewelry stores, seeking deals on diamonds and Hublot watches. In fact, shopping sprees are among the U.S.V.I.'s big draws: U.S. citizens can purchase up to $1,600 worth of duty-free merchandise here, whereas the rest of the Caribbean caps duty-free purchases at just $800.

Like the neighboring U.S. Virgin Islands, the British Virgin Islands use the U.S. dollar as their official currency, making travel between the two especially seamless. Credit cards are widely accepted at hotels, larger restaurants, and shops, but it’s wise to carry cash for small beach bars and local fish shacks. ATMs can be scarce on some of the smaller islands, so it’s best to stock up on dollars before you arrive.