Bermudian Dollar
(BMD) Insights
Currency of British Overseas Territory and world's #2 reinsurance centre after London; international business = ~85% of GDP; Bermuda holds ~$750 billion in reinsurance liabilities; captive insurance, hedge funds (Class 4 insurers), and insurance-linked securities (cat bonds) dominate; one of world's highest per-capita incomes (~$118,000); no income or capital gains tax; hurricanes create the very insurance demand that built the economy; 2022 – ~60% of S&P 500 cat bond market domiciled in Bermuda
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Currency Snapshot
Technical specifications, central bank governance, and market standing for Bermudian Dollar.
BMD
Standardized ISO 4217 Currency Code
BD$
Unicode Glyphs & Display Symbol
1/100 = Cent Decimals
Subdivision unit definition
Bermuda
Bermuda Monetary Authority (BMA)
Bermuda Monetary Authority (BMA)
US Dollar (USD)
Market-determined exchange rate mechanism
Currency Standard: Fiat (USD-pegged at 1:1)
Classified as Fiat (USD-pegged at 1:1) in global trade networks
Banknotes
BD$ 2
Coins
1c
Global Network Integration
The FX Intelligence terminal maps the institutional footprint of the Bermudian Dollar, highlighting cross-border utilization and primary trading corridors.
Verified Authority
Regulated data streams mapped to Bermuda Monetary Authority (BMA).
BMD Market Insights
Deep-dive analysis of the Bermudian Dollar's global impact, remittance role, and institutional influence.
Strong Currency Impact
N/A (USD-pegged); cheaper imports; lower reinsurance pricing competitiveness when USD strengthens against GBP/EUR
Weak Currency Impact
N/A (USD-pegged); higher reinsurance revenues after major catastrophe years (Andrew 1992, Katrina 2005, Harvey/Irma/Maria 2017); cat bond issuance surge drives financial activity
Remittance Role
Bermuda receives modest remittances from Bermudian diaspora in UK; significant international professionals in insurance and finance sector send remittances home; no meaningful inward remittance dependency
Central Bank Tools
USD peg mechanism (100% reserve backing), Insurance regulation (Class 4, Cat bonds), Fund licensing, AML supervision (BMA)
Common Questions About Bermudian Dollar
Everything you need to know about BMD exchange rates, banknotes, and historical significance.