The unit of currency used in Saint Lucia is the Eastern Caribbean Dollar (EC$) but a wide range of currencies such as United States Dollar, Canadian Dollar, Euro and British Pound are readily exchanged in local banks. The value of the EC dollar is approximately US$1.00 = EC$2.70.
The Eastern Caribbean Central Bank (ECCB) is the Monetary Authority for a group of eight island nations – Anguilla, Antigua and Barbuda, Dominica, Grenada, Montserrat, St. Kitts and Nevis, Saint Lucia, and St. Vincent and the Grenadines. The mission of ECCB is to maintain the stability of the Eastern Caribbean Dollar and the integrity of the banking system.
Saint Lucian banks offer a full range of services including currency exchange and cashing of travellers cheques. Cash in local currency (EC$) can be obtained by credit cards or bank cards through ATM machines located at most branch offices. Normal banking hours are from 8: 00 am to 2: 00 pm Monday through Thursday and 8:00 am to 5:00 pm on Friday.
The following banks are located in Saint Lucia:
- Bank of Nova Scotia (www.stlucia.scotiabank.com)
- Bank of St. Lucia (www.bankofstlucia.com)
- CIBC First Caribbean International Bank (www.cibcficb.com)
- 1st National Bank of St. Lucia (www.1stnationalbankonline.com)
- RBTT Bank Caribbean (www.rbttbank.com)
- Royal Bank of Canada (www.rbcroyalbank.com/caribbean)
- St. Lucia Development Bank (www.sldb.lc)
St. Lucia started its international financial services centre in 1999, with a comprehensive set of laws including anti-money laundering provisions, proper regulatory standards and the licensing and supervision of persons providing services in the industry. Currently, Saint Lucia’s Off-Shore Financial Services sector has 15 registered agents.