The currency used in Grenada is the Eastern Caribbean Dollar (ECD), which is maintained by the Eastern Caribbean Central Bank. The ECD has a fixed value against the US dollar, a rate that has been fixed at US$1=ECD $2.70. That means one ECD is worth about 37 cents US. This rate has been fixed for 25 years. What that means for the loonie is that as our dollar value increases against the US Greenback, so does our buying power while in Grenada. For the latest update on how the loonie is doing against the ECD click here. Please note that the symbol for the Eastern Caribbean Dollar on this site is "XCD". The usual "CAD" is used to indicate the Canadian dollar. BANKS The banks operating on the island include a mix of international and indigenous financial institutions. One of Grenada's largest banks is the Scotiabank. It has two branches in the capital city of St. George's as well as one in Grenville. Besides providing Cashstop automatic banking transactions, Scotiabank also offers foreign exchange and credit card cash advances. For more information on the Scotiabank in Grenada, click here or visit www.scotiabank.com and select Grenada from the drop down menu under "Scotiabank International" on the Services Outside Canada link on the left hand side of the page. Banking hours in Grenada are generally Monday to Thursday 8 am to 3 pm and Fridays from 8 am to 5 pm. For a complete list of banks on the island, click here. CREDIT CARDS & TRAVELERS' CHEQUES Major credit cards (Visa, Amex, and MasterCard) are accepted by the majority of hotels, car rental agencies and shops on the island. Likewise, travelers' cheques are accepted by a number of hotels and businesses in Grenada. For your convenience, banks and many hotels will assist you with cashing your cheques and converting Canadian and American dollars to the Eastern Caribbean Dollar.