The current exchange rate for the East Caribbean Dollar (XCD) is 2.70255 XCD per American Dollar (USD) as of the time this was written. The XCD is a highly stable currency which seldom fluctuates against the USD.
The current exchange rate has been nearly constant for most of the last year. You can reasonably expect only tiny fluctuations going forward, barring any unforeseen circumstances.
The fastest way to send money to Grenada is through Western Union’s fast option. With Western Union’s fast option, you can expect your money to reach its Grenadian destination in a matter of minutes. Cash pickups are the fastest and easiest method to organize, while bank transfers take longer. The main downside to Western Union’s fast option is the fact that it is more expensive than most of the competition. You can always expect to pay more with Western Union.
The cheapest way to send money to Grenada is through MoneyGram’s slow option. MoneyGram charges normal upfront rates for their services, but they charge moderate currency conversion markups. When both of these factors are considered, MoneyGram’s slower option is cheaper than the competition.
It should be noted that MoneyGram’s slow option is very slow. It normally takes 3-5 business days for your money to reach its destination.
The easiest way to send money to Grenada is through Payoneer. With Payoneer, you can choose between one of several money transfer methods to suit your needs. We recommend you use Payoneer to send money to the recipient’s debit card, which offers greater convenience and security when compared to other methods. With this method, the recipient can withdraw the money right away upon the transfer’s completion. You can also opt to send your Payoneer balance to a mobile money account or bank account if that suits you better.
For the sake of simplicity and ease of access, Western Union is the overall best way to send money to Grenada. Western Union is a tried and tested company that delivers money across the globe. Using Western Union to send money is easy for both yourself and the recipient. Western Union agents can be found at several locations in Grenada, and their services are available in most other countries.
Jonathan is the founder and editor of MoneyTransfers.com. Jonathan is highly experienced in the currency transfer market, having previously worked in the FX trading industry, alongside being an avid traveller. Using his knowledge he identified a need for transparency and further education to help people save money on their money transfers, leading to the creation of MoneyTransfers.com