百慕大元

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百慕大元（Bermuda Dollar　標準符號：BMD）

百慕大元簡介

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：http://www.bma.bm

The dollar (currency code BMD), has been the currency of Bermuda since 1970. It is normally abbreviated with the dollar sign $, or alternatively BD$ to distinguish it from other dollar-denominated currencies. It is divided into 100 cents.

The Bermuda dollar is pegged to the U.S. dollar at a 1:1 rate, but is not traded outside of Bermuda. Bermuda has issued its own currency since the seventeenth century. The Bermuda pound, which was replaced by the Bermuda dollar in 1970 at the rate of 1 dollar = 8 shillings 4 pence (that is, 100 pence), was of equivalent value to the British pound. British coinage was used, but Bermuda printed its own banknotes.

Coins

Coins in circulation

1 cent
5 cents
10 cents
25 cents
1 dollar

Banknotes

Banknotes in circulation

2 dollars
5 dollars
10 dollars
20 dollars
50 dollars
100 dollars

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The history of the currency of Bermuda

Bermuda has issued its own currency for over 300 years. The Bermuda dollar was established in 1970 replacing the Bermuda Pound at a rate of one Bermuda dollar is equal to eight shilling and four pence in old money. Previously the Bermuda pound was traded at par with the British pound sterling, when the dollar replaced the pound, the rate of £-/8/4d was chosen as this was the value of the American dollar in pounds at the time of changeover in 1970. Currently the value of the Bermuda dollar is pegged to the American dollar at a rate of one to one.

Prior to converting to the dollar, British coinage was used although Bermuda printed its own banknotes. Currently the Bermuda Monetary Authority issues all coins and banknotes in Bermuda. Banknotes in circulation come in denominations of $2, $5, $10, $20, $50 and $100, the one dollar note has been replaced by a coin, although it remains legal tender. Coins are issued in 1, 5, 10, 25 cents and $1 denominations. The Bermuda dollar's ISO 4217 code is BMD and like other dollar based currencies, prices are expressed using the $ sign. As the Bermuda dollar is valued at the same as American dollars, all businesses in Bermuda will accept either currency. All older banknotes issued by the Currency Board, the Government of Bermuda and the Bermuda Monetary Authority remain redeemable indefinatly.

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