The Bermudian Dollar is the currency of Bermuda. Each Dollar is made up of 100 Cents and is pegged to the US Dollar. The US Dollar is often used in Bermuda as well, but the Bermudian Dollar is only used within Bermuda. Coins come in 1, 5, 10, 25 and 50 Cents as well as one Dollar. Banknotes are issued in 2, 5, 10, 20, 50 and 100 Bermudian Dollars.
The first commemorative 50 Bermudian Dollar banknote was published in 1992 to mark the 500th Anniversary of Christopher Columbus’ Discovery of the New World. They also issued a special $50 note in 2003 to celebrate the Queen’s Silver Jubilee. The Bermuda Monetary Authority produced a triangular coin with curved sides in 1996 and it was the first of its kind in the world. It won best coin of the year in 1998.
The first currency of Bermuda was the Spanish Dollar or 'pieces of eight.' Following a silver shortage, Britain introduced Sterling to its colonies in 1825, including Bermuda. Sterling wasn’t made the official currency until 1842 when Spanish Dollars were phased out. However, Dollars continued to circulate in Bermuda and in 1970 the Bermudian Dollar was introduced alongside the Sterling currency. It wasn’t until 31 July 1972 that the Bermudian Dollar moved away from the British currency and was pegged against the US Dollar, facilitating greater trade and tourism with the US. The Sterling was abandoned in 1979.
- Cent (100)
- 6 February 1970
- Bermuda Monetary Authority
- De La Rue
- Royal Mint