Guyanese Dollar (GYD) in 2025: Current Value, Insights & Future Outlook

Thomas J Catalano, a Certified Financial Planner and Registered Investment Adviser in South Carolina, founded his financial advisory firm in 2018. His expertise spans investments, retirement planning, insurance, and comprehensive financial strategies.

What Is the Guyanese Dollar (GYD)?

The Guyanese dollar (GYD) serves as the official currency of Guyana, introduced in the 19th century. Issued and regulated by the Bank of Guyana, the nation's central bank, it uses the symbols $ and G$, and is identified as GYD in global currency markets.

While the GYD floats independently, it is most frequently exchanged against the U.S. dollar.

Key Facts About the Guyanese Dollar

• Official currency of Guyana, recognized as GYD.
• Banknotes come in denominations of G$20, G$50, G$100, G$500, G$1,000, and G$5,000.
• Coins are minted in G$1, G$5, G$10, and G$100.
• The Bank of Guyana exclusively issues and manages the currency.

History and Role of the Guyanese Dollar

Originating in 1839, the Guyanese dollar replaced the Dutch guilder as Guyana transitioned under British influence, using the British pound sterling for many years. The modern form of the GYD emerged in 1966, coinciding with Guyana’s independence.

The Bank of Guyana, established in 1965, oversees monetary policy and currency issuance. It ensures the stability and availability of the currency across various denominations.

The currency exchange rate remains relatively stable; as of December 21, 2023, 1 GYD equaled approximately US$0.0048, meaning around 210 GYD equals 1 USD.

Cash remains king in Guyana, especially outside major tourist hubs like Georgetown, where credit card use is limited and foreign ATM cards are often not accepted. Currency exchange is possible at banks, hotels, and especially at cambios, which offer favorable rates. U.S. dollars are widely accepted in tourist-centric establishments.

Economic Context and Special Factors

With a population near 800,000, Guyana is a South American nation famed for its dense rainforests and commodity exports such as sugar, gold, and bauxite, essential in aluminum production.

The discovery of vast offshore oil reserves in 2015 by ExxonMobil has transformed Guyana’s economic landscape. Initial estimates of 700 million barrels have been revised to 11 billion barrels. Oil production, which began in 2019, exceeded 600,000 barrels per day by late 2023, with projections to reach 1.2 million barrels daily by 2027.

Inflation and GDP Highlights

Guyana’s inflation rate was a modest 1.8% as of October 2023. GDP per capita reached approximately US$17,000 in 2023, with an impressive annual growth rate of 64%. Oil revenues are expected to generate up to US$7.5 billion annually by 2040, presenting both opportunities and challenges for economic management.

Despite these developments, the GYD remains a minor player in the global forex markets and is not widely traded even regionally.

Current Exchange Rate: How Much Is $100 USD in GYD?

On December 22, 2023, the exchange rate was 1 USD = 208.78 GYD, meaning $100 USD equates to roughly 20,878 GYD.

Why Does the Guyanese Dollar Maintain a Low Value?

The Guyanese dollar's floating exchange rate is not pegged to any foreign currency. Despite the influx of oil wealth, the GYD has not significantly appreciated, which benefits the country by maximizing export revenues through a relatively stable currency.

Future Outlook for the Guyanese Dollar

With booming oil production fueling rapid economic growth, the International Monetary Fund (IMF) forecasts Guyana’s real GDP growth at around 20% annually through 2028. However, the IMF warns of risks if the currency appreciates excessively beyond what is supported by economic fundamentals. Prudential monetary policies by Guyana’s central bank are expected to maintain currency stability.

Conclusion

The Guyanese dollar, despite being the official currency of a small South American country, remains stable but underrecognized globally. However, Guyana’s burgeoning oil sector and rapid economic expansion suggest growing international interest in both the nation and its currency in the near future.

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