Web Trader MT5
The currency of Bermuda, pegged 1:1 to the US dollar since 1972. Like the Bahamian, Belize, and Cayman dollar regimes, the BMD operates inside an economy that is heavily dollarised already, particularly in the offshore reinsurance industry that anchors Bermuda’s GDP.
The Bermuda Monetary Authority issues the notes and coins, and the peg has held without serious challenge for over five decades. Both currencies circulate side by side. Locals tend to use BMD for everyday spending; tourists and offshore companies often use USD without conversion.
Example: A reinsurance executive in Hamilton paying for lunch with a USD twenty-dollar note receives change in a mix of BMD coins and notes. The transaction completes in seconds, with no calculator and no question about whether the exchange is fair, because the 1:1 peg is so deeply embedded in commercial life that nobody thinks about it.
