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Bermudian dollar
ISO 4217
CodeBMD (numeric: 060)
Subunit0.01
Unit
Symbol$‎
Denominations
Subunit
 1⁄100cent
Banknotes$2, $5, $10, $20, $50, $100
Coins
 Freq. used1, 5, 10, 25 cents, $1
Demographics
Date of introduction6 February 1970 (1970-02-06)
User(s) Bermuda (alongside the US dollar)
Issuance
Monetary authorityBermuda Monetary Authority
 Websitebma.bm
PrinterDe La Rue
MintRoyal Mint
Valuation
Inflation1.9%
 SourceThe World Factbook, 2017
Pegged withUnited States dollar (at par)

The Bermudian dollar (symbol: $; code: BMD; also abbreviated BD$; informally called the Bermuda dollar) is the official currency of the British Overseas Territory of Bermuda. It is subdivided into 100 cents. The Bermudian dollar is not normally traded outside Bermuda, and is pegged to the United States dollar at a one-to-one ratio. Both currencies circulate in Bermuda on an equal basis.

History

[edit]
See also: Bermudian pound

For nearly four hundred years Spanish dollars, known as "pieces of eight" were in widespread use on the world's trading routes, including the Caribbean region.[1] However, following the revolutionary wars in Latin America, the source of these silver trade coins dried up.[2] The United Kingdom had adopted a very successful gold standard in 1821, and so the year 1825 was an opportune time to introduce the British sterling coinage into all the British colonies.[2] An imperial Order in Council was passed in that year for the purposes of facilitating this aim by making sterling coinage legal tender in the colonies at the specified rate of 1 Spanish dollar to 4 shillings, 4 pence sterling.[3] As the sterling silver coins were attached to a gold standard, this exchange rate did not realistically represent the value of the silver in the Spanish dollars as compared to the value of the gold in the British gold sovereign.[4] Because of this, the order had the effect in many colonies of driving sterling coinage out of circulation, rather than encouraging its use.[5]

Remedial legislation had to be introduced in 1838 so as to change over to the more realistic rating of $1 = 4s 2d. However, in Jamaica, British Honduras, Bermuda, and later in the Bahamas also, the official rating was set aside in favour of what was known as the 'Maccaroni' tradition in which a British shilling, referred to as a 'Maccaroni', was treated as one quarter of a dollar. The common link between these four territories was the Bank of Nova Scotia which brought in the 'Maccaroni' tradition, resulting in the successful introduction of both sterling coinage and sterling accounts.[6] It wasn't however until 1 January 1842 that the authorities in Bermuda formally decided to make sterling the official currency of the colony to circulate concurrently with Doubloons (64 shillings) at the rate of $1 = 4s 2d.[6] Contrary to expectations, and unlike in the Bahamas where US dollars circulated concurrently with sterling, the Bermudans did not allow themselves to be drawn into the U. S. currency area. The Spanish dollars fell away in the 1850s but returned again in the 1870s following the international silver crisis of 1873. In 1874, the Bermuda merchants agreed unanimously to decline to accept the heavy imports of US currency except at a heavy discount, and it was then exported again.[6] And in 1876, legislation was passed to demonetise the silver dollars for fear of them returning. In 1882, the local 'legal tender act' demonetised the gold doubloon, which had in effect been the real standard in Bermuda, and this left pounds, shillings, and pence as the sole legal tender.[6]

The pound sterling remained the official currency of Bermuda until 1970, though the Government of Bermuda did issue its own pound banknotes.[7] With US and Canadian coins regularly appearing in circulation in Bermuda and the possibility of the devaluation of the pound sterling, Bermuda was compelled to adopt its own decimal currency.[8] On 6 February 1970, Bermuda introduced a new decimal currency in the form of a dollar. The nascent Bermudian dollars circulated in conjunction with the new British decimal coinage a year before it was introduced in the United Kingdom.[9] By adopting decimalisation early, Bermuda was also able to place orders for the coinage from the Royal Mint before other Commonwealth countries seeking to decimalise could.[8] The link between the Bermudian dollar and the pound sterling was not broken until 31 July 1972, which allowed Bermuda to align to a one-to-one exchange rate with the US dollar.[10] The decision for Bermuda to peg its dollar to the US dollar added convenience for the multitude of American tourists and businesses upon whom Bermuda largely relied.[11]

Since 1972, Bermudian law has required that local businesses charge prices in Bermudian dollars which, if paid in US dollars, must be accepted at a rate of 1:1.[6] Only banks are legally allowed to exchange Bermudian dollars into US dollars or other currencies, subject to a 1.25% Foreign Currency Purchase Tax (some banks also charge an exchange fee).[12]

Coins

[edit]
See also: Commemorative coins of Bermuda

Prior to decimalisation and conversion to the dollar, the Government of Bermuda did not issue its own coins, other than the commemorative Bermudian crowns, since the 19th Century at the latest. In 1970, the Bermuda Monetary Authority introduced coinage with denominations of 1, 5, 10, 25, and 50 cents. From its inception, the 1-cent coin was struck out of bronze until 1988, when it was replaced with copper-plated steel. The composition of the 1-cent coin was changed to copper-plated zinc in 1991.[10] All other denominations, at the time, were minted from cupronickel. Nickel-brass 1-dollar and 5-dollar coins were issued in 1983; neither were very popular, with the 5-dollar coin eventually being withdrawn from circulation on 1 January 1990.[13] New 1-dollar coins that were thinner and one-third lighter than the 1983 issue were produced in 1988.[14] The 50-cent denomination was also phased out, with the coins being called in on 1 May 1990.[15] All denominations of Bermuda coinage depict the monarch of the United Kingdom on the obverse. From 1970 through 1985, the royal effigy by Arnold Machin was used, followed by an effigy by Raphael Maklouf from 1986 through 1998.[10] The current obverse, introduced in 1999, is the royal effigy sculpted by Ian Rank-Broadley.

Bermuda has occasionally released commemorative coins to celebrate certain events, historical milestones, flora, and fauna. These coins bear a face value, but are generally seen more as collector's items or stores of value. Notable among these are the so-called "Bermuda triangles", which are pressed on special lobed triangular planchets, are minted in gold and silver, and come in denominations divisible by three.

Coins in circulation

[edit]
Value Composition Mass Diameter Edge Obverse[16] Reverse[16] Date of
first
minting 		Date of
Withdrawal 		Date of
Lapse
1 cent Bronze 3.11 g 19.0 mm Plain Elizabeth II Wild hog 1970 1987 —
Copper-plated steel 2.80 g 1988 1990
Copper-plated zinc 2.50 g 1991 —
5 cents Cupronickel 5.00 g 21.2 mm Plain Elizabeth II Angelfish 1970 — —
10 cents 2.45 g 17.9 mm Milled Bermuda Easter lilies — —
25 cents 5.92 g 25.0 mm Longtail in flight — —
50 cents 12.60 g 30.5 mm Coat of arms of Bermuda 1 May 1990[15] 30 April 2000[15]
1 dollar Nickel–brass 9.50 g 22.5 mm Milled and inscribed with
"Bermuda Monetary Authority" 		Elizabeth II Bermuda map and cahow 1983 — —
7.56 g 26.0 mm Alternating plain and milled Bermuda-fitted dinghy 1988 — —
5 dollars 12.5 g 25.5 mm Milled and inscribed with
"Bermuda Monetary Authority" 		Bermuda map and onion 1983 1 January 1990[13] 31 December 1999[13]

Banknotes

[edit]

See also

[edit]

References

[edit]

Sources

[edit]
[edit]
Revisions and contributorsEdit on WikipediaRead on Wikipedia

Bermudian dollar

View on Grokipedia
from Grokipedia
The Bermudian dollar (currency code: BMD; also abbreviated BD$ or informally the Bermuda dollar) is the official currency of , a British Overseas in the North , and is subdivided into 100 cents. It was introduced on 6 February 1970, replacing the Bermudian pound at an of one dollar to eight shillings and four pence, as part of Bermuda's decimalization process. The currency is issued and regulated by the Bermuda Monetary Authority (BMA), which was established in 1969 to manage and oversee in the territory. The Bermudian dollar has been pegged at parity (1:1) to the since 31 July 1972, allowing the dollar to circulate alongside it as throughout , though the Bermudian dollar remains the sole domestic and cannot be exported without authorization. Banknotes are issued in denominations of $2, $5, $10, $20, $50, and $100, featuring designs that highlight Bermuda's natural landscapes, , and historical landmarks, such as the Longtail on the $50 note and the Bermuda bluebird on the $2 note. Coins circulate in values of 1 cent, 5 cents, 10 cents, 25 cents, 50 cents, and $1, typically made from copper-plated steel or , with motifs including the Bermuda and local like the Bermuda cedar. Recent innovations include the introduction of substrate banknotes for the $2 and $5 denominations in 2024, aimed at enhancing durability and security features like transparent windows and holograms. This fixed supports Bermuda's economy, which relies heavily on international , , and , by minimizing foreign exchange risk and facilitating seamless transactions with the . The BMA periodically issues commemorative notes and coins to mark significant events, such as the territory's 400th anniversary in 2009 or the authority's own 50th anniversary in 2019, which often feature unique shapes or limited-edition designs to appeal to collectors.

Overview

Currency characteristics

The Bermudian dollar (BMD) is the official currency of , a British Overseas Territory in the North Atlantic, having been introduced in 1970 to replace the previous pound-based system. It is abbreviated as BMD and represented by the symbol BDorsimplyor simply, with the latter distinguished from other dollar currencies through contextual usage, such as in Bermudian financial documents or transactions. The currency is subdivided into 100 cents, facilitating standard decimal-based denominations for coins and notes. Issued and regulated by the Bermuda Monetary Authority (BMA), established in 1969, the BMD serves as the primary under the BMA's mandate to maintain monetary stability. In everyday transactions, the BMD circulates interchangeably with the US dollar (USD) at a 1:1 parity, requiring no formal exchange for local use and allowing businesses, shops, and services to accept either currency seamlessly. As , the BMD is recognized exclusively within , where it cannot be readily exchanged or cashed by foreign banks abroad due to limited international convertibility and Bermuda's exchange control regulations. This domestic focus underscores its role as a stable medium in Bermuda's economy, which relies heavily on (accounting for a significant portion of GDP through US visitors), and , and trade; the currency's peg to the USD helps mitigate volatility in these sectors. has remained low and stable, influenced by the peg, with the annual rate at 1.7% as of June 2025.

Peg to the US dollar

The Bermudian dollar (BMD) was pegged to the (USD) at a fixed of 1:1 on 31 July , following amendments to the Bermuda Monetary Authority Act 1969 that enabled the shift from the previous link to the British pound sterling. This change was driven by the UK's abolition of the in and 's heavy reliance on trade and with the , which accounts for the majority of its economic interactions, thereby supporting the growth of and the burgeoning sector. The peg provided a stable monetary foundation, eliminating risks for US visitors and businesses, and positioned as an attractive offshore financial hub. The Bermuda Monetary Authority (BMA), established in , maintains the peg through a currency board-like system, backing all issued BMD with equivalent , primarily in USD, and aligning domestic interest rates with those set by the US Federal Reserve. Without an independent or active tools, the BMA ensures at the fixed rate by managing note issuance and redemption, while local banks adjust lending rates in tandem with US trends to prevent . Exchange controls further reinforce this mechanism: only licensed banks are authorized to convert BMD to foreign currencies, and a 1.25% Foreign Currency Purchase applies to such transactions by residents, discouraging outflows and preserving reserve adequacy. The BMD's limited means it is not traded on international forex markets, ensuring no fluctuations from speculative pressures. This fixed peg delivers that bolsters Bermuda's offshore financial sector, which dominates the and manages trillions in assets through and activities, as well as , which generates significant foreign exchange despite comprising 4.6% of direct GDP contribution as of 2023. It facilitates seamless trade, with over 80% of imports from the , by mirroring USD pricing and reducing transaction costs. However, the arrangement imports trends, keeping Bermuda's rate low but exposing the to policy shifts, such as interest rate hikes that can tighten local credit conditions without domestic countermeasures. This vulnerability was evident in recent years, where monetary tightening contributed to higher borrowing costs in Bermuda, potentially dampening growth in interest-sensitive sectors like and .

History

Colonial period

During the early colonial period following Bermuda's settlement in , the island's first distinct coinage consisted of silver "hog money" minted in in 1615 and/or 1616 for the Somers Islands . These coins, in denominations of twopence, threepence, sixpence, and one shilling, bore an image of a wild hog on the obverse—symbolizing the feral pigs introduced by Spanish explorers in the —and a sailing ship on the reverse, reflecting Bermuda's maritime orientation. Hog money circulated primarily during the early alongside foreign coins. Bermuda's economy, centered on shipping, privateering, and trade with the Spanish Americas, led to the widespread adoption of the (or "piece of eight") as the dominant currency from the 17th century through the early . This , valued for its consistent purity and abundance from Spanish colonial mints, facilitated commerce in salt, shipbuilding materials, and other goods across the Atlantic. Local merchants and the colonial government accepted Spanish dollars interchangeably with British coinage, though shortages often prompted the use of like . By the 1790s, supplementary copper token coins—cartwheel-style pieces issued privately in Birmingham, —entered circulation to address small-change needs in local trade. In 1842, amid efforts to standardize colonial finances, Bermuda formally adopted British sterling as its official currency, with the Spanish dollar fixed at a value of 4 shillings 4 pence (approximately $1 = 0.2167 pounds sterling at the time). This rate reflected the traditional valuation of the in British possessions and allowed sterling coins to circulate concurrently with lingering Spanish silver. British gold and silver coins became full under the of 1861, gradually phasing out foreign alternatives as trade patterns shifted toward the . The sterling system supported Bermuda's growing role in transatlantic shipping and early , which emerged in the mid-19th century with connections to . By the mid-20th century, Bermuda's increasing economic autonomy and heavy reliance on U.S. —particularly the post-World War II boom that drew American visitors for its beaches and resorts—exposed limitations of the non-decimal sterling system. Discussions on decimalization gained momentum in the , driven by alignment with the United Kingdom's planned 1971 reform and the practical need for compatibility with U.S. dollars in a tourism-driven where over 80% of visitors came from the . These pressures underscored the island's transition from imperial trade dependencies toward a more independent monetary framework.

Establishment in 1970

The Bermuda Monetary Authority Act 1969 established the (BMD) as the official of , dividing it into 100 cents and authorizing the Bermuda Monetary Authority (BMA) to issue notes and coins. This took effect on 6 February 1970, marking the transition from the pound sterling-based system to a decimalized aligned with 's growing economic ties to the . The BMD replaced the Bermudian pound at a fixed parity of 1 BMD equaling 8 shillings and 4 pence sterling, which corresponded directly to the US dollar at the prevailing , facilitating smoother trade and . The introduction of the BMD was driven by Bermuda's status as a self-governing British Overseas , where full political was not pursued, but greater economic was sought to reduce reliance on the UK's , which was set to dissolve in 1972. This shift aimed to enhance economic sovereignty by pegging to the dollar, reflecting Bermuda's proximity to the and its tourism-dependent , which attracted a significant number of American visitors. The decimalization also modernized the , replacing the cumbersome shillings and pence with a structure more compatible with international standards. On the launch date, the BMA simultaneously issued the first coins and banknotes to enable immediate circulation and localization of the . were denominated in cents at 1, 5, 10, 25, and 50, with the 1-cent piece in and the others in cupro-nickel. Banknotes began at $1, $5, $10, $20, and $50, featuring designs with Queen Elizabeth II and Bermudian motifs such as sailboats. During the initial transition period, both the new BMD and old sterling notes and coins remained , with banks closing for three days to manage the exchange; full demonetization of sterling occurred by 30 June 1970.

Coins

Denominations and materials

The circulating coins of the Bermudian dollar consist of denominations valued at 1 cent, 5 cents, 10 cents, 25 cents, and 1 . These coins are designed for everyday use and feature specifications optimized for durability and recognition. The following table summarizes their current compositions, diameters, and approximate weights (based on recent issues as of 2009 for 1 cent):
DenominationCompositionDiameter (mm)Weight (g)
1 centCopper-plated 192.5
5 cents21.65.0
10 cents18.52.5
25 cents24.56.25
1 Nickel-brass267.56
The obverse side of all denominations traditionally bears the portrait of Queen Elizabeth II. Following the death of Queen Elizabeth II in 2022, plans exist to update the obverse design to feature the effigy of King Charles III, though as of 2025, only Elizabeth II designs remain in circulation for standard coins. The reverses depict iconic Bermudian symbols, such as the wild boar on the 1 cent, a white-tailed tropicbird on the 25 cents, and maritime elements like sailing ships on the 1 dollar, emphasizing Bermuda's natural heritage and seafaring history. The 50 cents coin, formerly in cupronickel with a scalloped edge (30 mm, 11.66 g), depicting the island's coat of arms, was withdrawn from circulation in 1990 but remains legal tender. Coin compositions have evolved for improved longevity and cost efficiency; for instance, the 1 cent coin transitioned from bronze (weighing 3.11 g with a 19.05 mm diameter from 1970-1990, including a brief copper-plated steel trial in 1988) to copper-plated zinc (1991-2006 and post-2010). No 1 cent coins have been minted since 2009 due to declining use, with U.S. coins often substituted in practice, though all denominations remain legal tender. Similarly, higher denominations have maintained cupronickel or nickel-brass for their resistance to wear. Bermudian coins are primarily minted by the Royal Mint in the or the Royal Canadian Mint, ensuring high-quality production standards. Low-mintage commemorative issues, such as the 1983 1 dollar and 5 dollar celebrating parliamentary milestones, were intended for circulation but later withdrawn; they remain popular among collectors due to their limited availability and historical significance.

Changes over time

In 1983, the Bermuda Monetary Authority introduced higher-value to facilitate transactions, including a nickel-brass 1-dollar featuring a of on the reverse and a larger nickel-brass 5-dollar depicting a similar with an onion lily, both intended to reduce reliance on banknotes for everyday use. By 1990, due to low circulation and unpopularity, the 5-dollar was withdrawn from use on , replaced primarily by banknotes, while the 50-cent was discontinued around the same time (effective circa May 1990), leaving the standard denominations as 1, 5, 10, 25 cents, and 1 . Material compositions for Bermudian coins have evolved primarily for cost efficiency; the 1-cent was struck in from 1970 through 1990 (with a copper-plated variant in 1988), transitioned to copper-plated in 1991, briefly returned to copper-plated from 2007 until production ceased in 2009, while all other denominations have remained in or nickel-brass throughout. No new standard circulating coins have been minted since 2009 for lower denominations like the 1 cent, reflecting preference for U.S. equivalents. All denominations of Bermudian coins continue as with no formal demonetization, though in practice, U.S. dollar coins are often preferred and used interchangeably in daily transactions due to Bermuda's economic ties with the . Bermuda has issued limited commemorative coins not intended for general circulation, such as the 2009 four-sided silver 4-dollar piece marking the 400th anniversary of the island's settlement by the , produced in a mintage of 2,000 under official regulation by the Bermuda Monetary Authority.

Banknotes

Denominations and designs

The Bermudian dollar banknotes are issued in denominations of $2, $5, $10, $20, $50, and $100. These were introduced in 1970 for the $5, $10, $20, and $50 notes, 1982 for the $100 note, and 1988 for the $2 note. Banknote designs emphasize Bermuda's maritime heritage, historical landmarks, and , including flora and fauna, with the obverse typically featuring a of the reigning British monarch—Queen Elizabeth II in earlier series and King Charles III in recent issuances. For instance, the $2 note portrays the alongside the Dockyard and Neptune's statue, reflecting the island's naval . The $5 note highlights such as the blue marlin, along with scenic elements like Horseshoe Bay Beach and Somerset Bridge. The $10 note depicts the at , a symbol of . Higher denominations incorporate similar thematic motifs, such as the longtail bird on the $50 note and shipwrecks or coastal scenes evoking Bermuda's seafaring past. Early series (pre-2009) adopted a horizontal layout, while post-2009 issuances shifted to a vertical format for improved and handling, with dimensions of 140 mm in height by 68 mm in width. All notes share a consistent size across denominations to facilitate vending and counting. The Monetary oversees issuance, with printing handled by in the . Traditional notes use high-quality , while the 2024 $2 and $5 editions employ a thin, flexible substrate for enhanced —lasting over twice as long in circulation compared to paper equivalents. Each denomination features a unique dominant for quick identification, such as green for the $5 note (earlier versions) or pink for the current $5 note, and blue for the $10 note. Security elements include serial numbering with alphabetic prefixes for tracking and replacement notes, alongside basic anti-counterfeiting measures like watermarks, embedded security threads, and intaglio printing for tactile verification. Polymer notes add advanced features such as clear windows revealing underwater scenes and shimmering inks that shift under tilt.

Redesigns and innovations

In 2009, the Bermuda Monetary Authority (BMA) introduced a complete redesign of its series, marking the first major overhaul since the currency's establishment in 1970 and commemorating the 400th anniversary of 's settlement. The new notes retained familiar colors for each denomination to ease public transition but incorporated vertical —a rare format previously limited to currencies like those of and —alongside enhanced maritime and natural themes reflecting Bermudian heritage. Security innovations included the OPTIKS security thread, the first of its kind in the , featuring a demetalized map and tuna fish visible under transmitted light, as well as watermarks, transparent registration devices like , and electrotypes. Additional features encompassed UV-reactive inks, , and raised intaglio printing for tactile verification, structured across four levels from public detection to forensic analysis. A minor update occurred in August 2012 to the $50 note, correcting the depiction of the longtail tropicbird (Phaethon lepturus) to accurately represent the native Bermudian , with a new A/1 prefix replacing the previous Bermuda onion design. This adjustment addressed an earlier error where a non-local had been illustrated, enhancing cultural authenticity without altering other elements. In fall 2024, the BMA launched its first banknotes with the $2 and $5 denominations, printed on De La Rue's Safeguard substrate—a thin, flexible designed for superior in Bermuda's humid . These notes maintain the same size, colors, and overall appearance as their predecessors, including the of King Charles III, but introduce half-windows with partially transparent sections showing cloudy skies on one side and underwater scenes on the other, visible from both sides for enhanced aesthetic and security integration. Polymer-specific advancements include ARGENTUM metallic effects on marine motifs like tuna fish, UV-fluorescent GEMINI patterns, and iridescent inks with ILLUMINATE and ROTATE technologies depicting waves, fish, and suns that shift under angle changes. Tactile innovations for accessibility feature triangular dots on the $2 and circular dots on the $5, akin to , alongside raised ink for the visually impaired. The notes offer practical benefits over traditional , lasting approximately 2.5 times longer, resisting water and oil damage, and reducing environmental impact through lower production waste and resource use. Existing cotton $2 and $5 notes continue as , co-circulating indefinitely with no planned withdrawal. The $5 polymer note received the International Bank Note Society's (IBNS) Bank Note of the Year award for , recognizing its innovative , , and visual . As of November 2025, the BMA has indicated potential for extending polymer technology to higher denominations in future issuances, though no full series redesign or overhaul has been announced.

References

  1. https://www.investopedia.com/terms/forex/b/bmd-bermudian-dollar.asp
  2. https://cdn.bma.bm/documents/2020-09-10-12-25-56-BMA-50th-AnniversaryAnnual-Report.pdf
  3. https://www.bma.bm/introduction
  4. https://www.bma.bm/news-and-press-releases/bermuda-monetary-authority-celebrating-50-years
  5. https://www.state.gov/reports/2017-investment-climate-statements/bermuda
  6. https://www.bma.bm/viewPDF/documents/2018-12-31-02-34-59-BMA-Releases-New-Redesigned-Banknote-Series-into-Circulation.pdf
  7. https://www.bma.bm/news-and-press-releases/press-release-bermuda-monetary-authority-releases-new-2-and-5-banknotes-printed-on-polymer
  8. https://www.bma.bm/coin-catalogues/50th-anniversary-2019
  9. https://bm.usconsulate.gov/banking-and-currency/
  10. https://www.elevatepay.co/currency-encyclopedia/bmd-bermudian-dollar
  11. https://www.gov.bm/articles/june-2025-consumer-price-index
  12. https://sites.krieger.jhu.edu/iae/files/2019/12/John_Stanton_Bermuda.pdf
  13. https://www.spglobal.com/ratings/en/regulatory/article/-/view/type/HTML/id/3368431
  14. https://www.gov.bm/foreign-currency-tax
  15. https://www.gov.bm/sites/default/files/2025-03/Tourism%2520Satellite%2520Account%25202023.pdf
  16. https://www.state.gov/reports/2021-investment-climate-statements/bermuda/
  17. https://dbrs.morningstar.com/research/456989/morningstar-dbrs-upgrades-bermuda-to-a-high-changes-trend-to-stable
  18. https://www.gov.bm/sites/default/files/2024-02/2023_National_Economic_Report.pdf
  19. https://coinweek.com/the-1615-16-coins-of-bermuda-sommer-islands-the-first-english-coins-of-north-america/
  20. https://24carat.co.uk/bermudahistory.html
  21. https://taxfreegold.co.uk/bermuda.html
  22. https://www.nytimes.com/1970/05/03/archives/coins-bermudas-decimal-pieces.html
  23. https://www.bermudalaws.bm/Laws/Consolidated%20Law/1969/Bermuda%20Monetary%20Authority%20Act%201969
  24. https://cdn.bma.bm/documents/2019-02-21-04-25-04-Bermuda-Monetary-Authority-Celebrating-50-Years.pdf
  25. https://www.exchangerate.com/currency-information/bermudian-dollar.html
  26. https://www.banknotes.com/bm.htm
  27. https://bernews.com/2022/02/introduction-bermuda-dollar/
  28. https://www.worldatlas.com/flags/bermuda
  29. https://www.bermuda-online.org/money.htm
  30. http://www.commonlii.org/bm/legis/num_reg/bma400aotsobccr20081021.pdf
  31. https://www.bma.bm/coin-catalogues/commemorative-coins
  32. https://bernews.com/2010/05/bermuda-2-bill-receives-award-of-the-year/
  33. https://www.banknotes.com/bm33s.htm
  34. https://www.pmgnotes.com/priceguide/world-note-prices.aspx?deid=1776006&subcat=1974-1982-issue
  35. https://www.imf.org/en/Publications/fandd/issues/2025/09/currency-notes-tradition-and-technology-jeff-kearns
  36. https://www.theibns.org/
  37. https://www.pmgnotes.com/news/article/14273/
  38. https://moneycurrencypictures.blogspot.com/2018/11/bermuda-currency-money-20-dollars-banknote-2009-whistling-frog.html
  39. https://www.bma.bm/polymernotes
  40. https://www.delarue.com/about/news/new-2-and-5-safeguard-polymer-banknotes-issued-by-the-bermuda-monetary-authority
  41. https://www.banknotes.com/bm29s.htm
  42. https://www.coinbooks.org/esylum_v11n48a15.html
  43. https://bernews.com/2012/08/bma-advises-public-of-new-50-bill-in-circulation/
  44. https://banknotenews.com/?p=10818
  45. https://www.bma.bm/news-and-press-releases/press-release-bma-earns-prestigious-international-accolades
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