The Bermudian dollar (BMD) is the official currency of Bermuda, a British overseas territory located in the North Atlantic Ocean.
The Bermudian dollar has been the country’s official currency since 1970, when it replaced the Bermudian pound.
The Bermudian dollar is subdivided into 100 cents and is symbolized by the “$” sign, or sometimes by the acronym “BMD”.
It is pegged to the US dollar at a fixed exchange rate of 1 BMD = 1 USD.
This means that the value of the Bermudian dollar is directly tied to the value of the US dollar, and fluctuations in the value of the US dollar can affect the purchasing power of the Bermudian dollar.
The Bermuda Monetary Authority is responsible for managing the monetary policy and issuing currency in Bermuda.
The Bermudian economy is largely driven by the insurance and financial services industries, and fluctuations in these industries can affect the value of the Bermudian dollar.
The Bermudian dollar is widely accepted throughout Bermuda, and US dollars are also commonly used.
Visitors to Bermuda can usually exchange their foreign currency for Bermudian dollars at banks, exchange bureaus, and some hotels and resorts.