Local businesses are required by law to accept USD at this 1:1 rate.

All coins feature the effigy of the British monarch on the obverse. Historical Evolution

: The formal 1:1 peg to the US dollar was established to simplify trade and attract American tourists.

: The island used the Bermudian pound (equal to the British pound sterling) for roughly 130 years.

Are you planning a trip to Bermuda and need to know about or international transaction costs ?

: Bermuda introduced the dollar to decimalize its economy, replacing the pound.

: The BMD is pegged to the US dollar (USD) at a strict 1:1 ratio .

: Currently issued in denominations of $2, $5, $10, $20, $50, and $100 .