BMDBermudian DollarBermudian Dollar (BMD)
The Bermudian dollar is Bermuda's local currency and is used for prices, payroll, government accounts and domestic cash transactions.
- ISO code
- BMD
- Symbol
- $
- Region
- Americas
- Currency type
- Fiat currency
- Exchange system
- The Bermudian dollar is maintained at one-to-one parity with the U.S. dollar.
- Last reviewed
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Quick facts
BMD at a glance
Currency profile
How BMD works
The Bermudian dollar is Bermuda's local currency and is used for prices, payroll, government accounts and domestic cash transactions.
The Bermuda Monetary Authority issues BMD notes and coins. One dollar is divided into 100 cents and the unit is maintained at parity with USD.
- BMD has its own ISO code and local cash series despite its one-for-one link to the U.S. dollar.
- U.S. currency is accepted in Bermuda, while Bermudian notes generally do not circulate outside the territory.
Context
Why this currency matters
Parity makes BMD-USD arithmetic simple, but it does not erase the distinction between the two cash issues. Travelers can commonly spend U.S. dollars in Bermuda, while receiving or carrying Bermudian change may have different acceptance elsewhere. Keeping BMD separate also preserves accurate accounting for Bermuda's government and financial sector.
Monetary framework
Exchange arrangement
The Bermudian dollar is maintained at one-to-one parity with the U.S. dollar.
CurrencyHub shows daily reference rates. Banks, card networks, ATMs and transfer providers may apply different exchange rates, fees or spreads.
History timeline
Key dates for BMD
Bermudian dollar introduced
Bermuda adopted a decimal dollar at parity with the U.S. dollar.
Bermuda Monetary AuthorityMonetary Authority established
The Bermuda Monetary Authority was created and took responsibility for the currency framework.
Bermuda Monetary AuthorityVertical banknote series issued
Bermuda introduced a redesigned vertically oriented banknote family.
Bermuda Monetary Authority
Usage and economy
How BMD is used
- Bermudian dollars denominate local retail prices, salaries and public charges.
- USD, CAD, BSD and KYD are useful comparison currencies for travel and regional finance.
Banknotes and coins
BMD currency units
Bermuda Monetary Authority is the authoritative source for the current BMD banknote framework.
Bermuda Monetary Authority is the authoritative source for the current BMD coin framework.
One Bermudian Dollar unit is recorded with 2 decimal places and uses Cent as its minor unit.
Related currencies
Currency relationships
Explore currencies connected through regional use, trade comparisons or monetary relationships.
FAQ
BMD questions
Is one Bermudian dollar equal to one U.S. dollar?
Yes. BMD is maintained at one-to-one parity with USD.
Can BMD notes normally be spent in the United States?
No. Bermudian notes are a local issue and are not generally accepted as U.S. cash.
Who issues Bermuda's currency?
The Bermuda Monetary Authority issues and administers Bermudian notes and coins.
Sources
Data and editorial review
Rate source: Frankfurter
Last reviewed:
Currency identity and cash information is checked against central-bank, government, ISO and official international sources.