Yes! American currency is accepted in The Bahamas. You will want cash for the taxis, car rentals, bars, ect. Most places do take credit cards but cash is usually desired.
Your passport, drivers license for renting a car, bug spray (the bugs can show up on the beach every now and then), bug bite relief cream like cortisone 10, sunscreen, lightweight long sleeve shirts and long pants, any snorkel gear you may have, insulated water bottles, beach bags, phone chargers
This article has everything you need to know about grocery shopping on Eleuthera!
The speed limit is 45 on the highway and 15 in the settlements. The Bahamas follow British driving rules so remember to DRIVE ON THE LEFT!! The roads generally do not have a shoulder and do not have lines painted on them. Due to the climate in the Bahamas the roads break down rather quickly so they may seem a lot rougher than what you are used to. Most people are not comfortable going 45mph on these skinny island roads. Be aware of the locals who tend to drive faster than the speed limit and are occasionally known to pass on blind corners. If you find someone behind you who wants to drive faster than you, please pull over to let them pass as soon as you safely can.
This website has a ton of great information on Eleuthera!