From Wikipedia, the free encyclopedia
| Bermudian dollar |
| ISO 4217 Code |
BMD |
| User(s) |
Bermuda |
| Inflation |
2.8% |
| Source |
The World Factbook, November 2005 |
| Pegged with |
U.S. dollar at par |
| Subunit |
|
| 1/100 |
cent |
| Symbol |
BD$ |
| Coins |
|
| Freq. used |
1, 5, 10, 25 cents, $1 |
| Rarely used |
50 cents |
| Banknotes |
$2, $5, $10, $20, $50, $100 |
| Central bank |
Bermuda Monetary Authority |
| Website |
www.bma.bm |
The dollar (ISO 4217 code: BMD) is the currency of Bermuda. It is normally abbreviated with the dollar sign $ or, alternatively, BD$ to distinguish it from other dollar-denominated currencies. It is subdivided into 100 cents. The Bermudian dollar is not traded outside of Bermuda.
[edit] History
The dollar was introduced in 1970, replacing the Bermudian pound at the rate of 1 dollar = 8 shillings 4 pence (that is, 100 pence). This rate was chosen so as to facilitate the pegging of the Bermuda dollar to the U.S. dollar at par, since the exchange rate between the pound (equal to sterling) and U.S. dollar was 2.4 dollars = 1 pound.
In 1970, coins were introduced in denominations of 1, 5, 10, 25 and 50 cents. The 1 cent was bronze, with the other coins struck in cupro-nickel. In 1983, nickel-brass 1 and 5 dollars coins were issued, although the 5 dollars coin was not issued again. In 1988, copper-plated steel replaced bronze, a larger 1 dollar coin was introduced and production of the 50 cents coins ceased. In 1991, copper-plated zinc replaced copper-plated steel in the 1 cent. Coins in circulation are:
- 1 cent
- 5 cents
- 10 cents
- 25 cents
- 1 dollar
[edit] Banknotes
In 1970, the government introduced notes in denominations of 1, 5, 10, 20 and 50 dollars. From 1974, the Bermuda Monetary Authority took over paper money production, introducing 100 dollars notes in 1982 and 20 dollars in 1988, when the 1 dollar was replaced by a coin. Banknotes in circulation are:
- 2 dollars
- 5 dollars
- 10 dollars
- 20 dollars
- 50 dollars
- 100 dollars
Current BMD exchange rates
[edit] See also
[edit] References
[edit] External links
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Currencies named dollar or similar |
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| Circulating, formerly a.k.a. dollar |
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| Obsolete |
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| Obsolete, a.k.a. dollar |
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| Conceptual |
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| Fictional |
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| Private |
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| See also |
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Currencies of the Americas |
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| North America |
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| Central America |
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| Caribbean |
Aruban florin · Bahamian dollar · Barbadian dollar · Bermudian dollar · Cayman Islands dollar · Cuban peso · Cuban convertible peso · Dominican peso · East Caribbean dollar ( Anguilla, Antigua and Barbuda, British Virgin Islands, Dominica, Grenada, Montserrat, Saint Kitts and Nevis, Saint Lucia, Saint Vincent and the Grenadines) · Euro (Saint Martin, Saint Barthélemy, Guadeloupe, Martinique) · Haitian gourde · Jamaican dollar · Netherlands Antillean gulden · Trinidad and Tobago dollar · U.S. dollar ( British Virgin Islands, Puerto Rico, Turks and Caicos Islands, U.S. Virgin Islands)
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| South America |
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Microsoft Excel format)
