Finally, there is the question of dollarization, and whether this option would allow The Bahamas to speed up the process of liberalisation. Purpose and Scope of Exchange Controls The system of exchange controls, and the monetary policy tools available to the Central Bank are to ensure that The Bahamas is able to maintain the fixed exchange rate, with $ = US1.00.
The parity with the US currency provides a necessary convenience for tourism, which is mostly transacted in US dollars and mostly with US clientele. The fixed exchange rate has also provided a stable anchor for domestic inflation, which has closely mirrored the inflation rate in the United States.