Due to the choice for a different currency, everyday payments in the BES islands are denominated in US dollars, and so are bank account balances. This means that if you withdraw money from an ATM or at the counter, you will receive the requested amount in dollars.
NAF Bank account balances (deposits as well as debts) have been automatically converted into USD at the agreed exchange rate of NAF 1.790 = USD 1.00. Effective from 2011, NAF is regarded as a foreign currency which can be exchanged at banks at commercial exchange rates.
By law, NAF amounts in contracts and other legal documents are to be read as amounts in USD after 1 January 2011. The amounts in NAF are not amended but are taken to represent amounts in USD as of that date, at an agreed exchange rate of NAF 1.790 = USD 1.00. The parties to such contracts are free to continue to use the NAF denomination after the introduction date, provided they have laid down their mutual agreement to do so in writing. Cheques are denominated in USD.