To aid in decimalisation, three-dollar bills and fifteen-cent coins were created, as three dollars was roughly equivalent to one pound, and fifteen cents to a shilling, at the time of transition.

[6] All coins now bear the Bahamian Coat of Arms on one side with the words "Commonwealth of The Bahamas" and the date.

The Bahamas Monetary Authority took over the issuance of paper money in 1968, issuing the same denominations.

The Central Bank of the Bahamas was established on 1 June 1974 and took over note issuance from that point forward.

The dollar has undergone several revisions in the last twenty years, one of the more notable being an extremely colourful redesign in celebration of the quincentennial of the landing of Christopher Columbus on a Bahamian island he named San Salvador.

The latest counterfeit-proof formula is the "Counterfeit Resistant Integrated Security Product", or CRISP.

The $1⁄2 shows an older Queen Elizabeth II and the back shows a picture of Sister Sarah in the Nassau Straw Market; the $1 shows Sir Lynden Pindling and on the back the Royal Bahamas Police Force Band; the $3 has a young Queen Elizabeth II and on the back shows a Family Island Regatta with native sloops; the $5 – Sir Cecil Wallace-Whitfield and the back shows a Junkanoo group 'rushing' in the Junkanoo parade; the $10 – an older Queen Elizabeth II (replacing Sir Stafford Sands) and the back shows the Hope Town Lighthouse and settlement in Abaco, the $20 – Sir Milo Butler; the $50 – Sir Roland Symonette; the $100 – an older Queen Elizabeth II and the back shows a jumping blue marlin, the national fish of The Bahamas.

Since 2016, a new series called CRISP Evolution has been progressively introduced, maintaining the subjects and motifs of the previous banknotes while updating the security features and color schemes.