Shirley Liu is Finder's global program manager. She was previously the publisher for banking and investments and has also written comparisons for energy, money transfers, Uber Eats and many other topics. Shirley has a Master of Commerce and a Bachelor of Media, Journalism and Communications from the University of New South Wales. She is passionate about helping people find the best deal for their needs.
Canadian Dollar to Bermudian Dollar Exchange Rate
Refreshing in: 60s | Thu, Jul 16, 05:19PM GMT
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How can I get the best exchange rate between the Canadian dollar and the Bermudian dollar?
Bermuda has its own currency called the Bermudian dollar, which is pegged to the US dollar at a 1-to-1 exchange rate.
If you want to transfer money to someone in Bermuda, you should consider your options carefully. You can choose to make an international bank transfer, but you’ll likely be paying more because of the high transaction fees and the poor exchange rates that banks often charge. International bank transfers are also typically a slower way to transfer money to Bermuda.
The fastest and cheapest way is usually a specialist online money transfer service. They offer more competitive exchange rates, lower fixed fees and faster transfer speeds than traditional banks. There are many online money transfer services available and you can find a review of most of them here on finder.
Because of the 1-to-1 peg with the US dollar, US dollars are also widely accepted as payment in Bermuda. The two currencies circulate side by side in the country, which means it may not be necessary to exchange money if you have USD and are heading to Bermuda.
|Currency Symbol:||$, Can$, C$, CAD|
|Sub unit:||cent (English) and cenne (French)|
|Sub unit symbol:||¢|
|Bank notes:||$5, $10, $20, $50, $100|
|Coins:||5¢, 10¢, 25¢, 50¢, $1, $2|
|Sub unit symbol:||c|
|Bank notes:||$2, $5, $10, $20, $50, $100|
|Coins:||1c, 5c, 10c, 25c, 50c, $1, $5|
What affects exchange rates between the US dollar and the Bermudian dollar?
The exchange rate between the US dollar and the Bermudian dollar has remained at the current peg value since 1972.
There are no signs as of now that the current peg policy will change in the foreseeable future. The exchange rate between the US dollar and the Bermudian dollar will, therefore, remain stable regardless of what happens in the two countries both politically and economically.
If you are planning to make a big purchase or investment in Bermuda, you may want to look further into the direction of central bank policies in Bermuda. Follow what they say about the strength of the Bermudian dollar and any mentions about the peg with the US dollar.
If the US dollar were to enter into a sharp depreciation, the Bermudian central bank may decide to change their peg policy or simply revalue the peg. However, this is not a likely scenario for the near future.
There are no foreign exchange or capital controls in place in Bermuda, meaning you can exchange as much or as little as you want between Bermudian dollars and foreign currencies. US citizens are also generally allowed to open bank accounts in Bermuda.
How does the Bermudian dollar trade against the US dollar historically?
Before 1970, Bermuda used the British pound as their official currency. That year, Bermuda started issuing their own currency, although it was still linked to the British pound by a peg. Then, in 1972, Bermuda decided to switch their currency peg from the British pound over to the US dollar at a rate of 1-to-1.
The 1-to-1 exchange rate with the US dollar obviously made things easier for the large number of American tourists who visits Bermuda every year, as well as American companies doing business in Bermuda.
Canadian Dollar to the Bermudian Dollar for the last 10 days
|Jul 06||Jul 07||Jul 08||Jul 09||Jul 10||Jul 11||Jul 12||Jul 13||Jul 14||Jul 15|
|1 CAD =||0.7386 Inverse: 1.3540||0.7350 Inverse: 1.3605||0.7397 Inverse: 1.3518||0.7363 Inverse: 1.3581||0.7355 Inverse: 1.3595||0.7359 Inverse: 1.3589||0.7353 Inverse: 1.3599||0.7347 Inverse: 1.3611||0.7353 Inverse: 1.3600||0.7403 Inverse: 1.3508|
Canadian Dollar to the Bermudian Dollar for the last 10 months
|Sep 2019||Oct 2019||Nov 2019||Dec 2019||Jan 2020||Feb 2020||Mar 2020||Apr 2020||May 2020||Jun 2020|
|1 CAD =||0.7552 Inverse: 1.3242||0.7573 Inverse: 1.3204||0.7563 Inverse: 1.3221||0.7584 Inverse: 1.3186||0.7652 Inverse: 1.3068||0.7538 Inverse: 1.3266||0.7194 Inverse: 1.3900||0.7207 Inverse: 1.3875||0.7097 Inverse: 1.4091||0.7359 Inverse: 1.3589|
Canadian Dollar to the Bermudian Dollar for the last 10 years
|Jul 2010||Jul 2011||Jul 2012||Jul 2013||Jul 2014||Jul 2015||Jul 2016||Jul 2017||Jul 2018||Jul 2019|
|1 CAD =||0.9533 Inverse: 1.0490||1.0465 Inverse: 0.9555||0.9851 Inverse: 1.0151||0.9619 Inverse: 1.0396||0.9311 Inverse: 1.0740||0.7733 Inverse: 1.2931||0.7714 Inverse: 1.2963||0.7907 Inverse: 1.2646||0.7600 Inverse: 1.3157||0.7663 Inverse: 1.3049|
Market rate for common transfer amounts CAD to BMD
|Canadian Dollars (CAD)||Bermudian Dollar (BMD)|
Exchange rates from CAD to other currencies
- Bahamian Dollar (BSD)
- Bahraini Dinar (BHD)
- Bangladeshi Taka (BDT)
- Barbadian Dollar (BBD)
- Belarusian Ruble (BYN)
- Belize Dollar (BZD)
- Bermudian Dollar (BMD)
- Bhutanese Ngultrum (BTN)
- Bitcoin (BTC)
- Bitshares (BTS)
- Bolivian Boliviano (BOB)
- Botswana Pula (BWP)
- Brazilian Real (BRL)
- Brunei Dollar (BND)
- Bulgarian Lev (BGN)
- Burundian Franc (BIF)
- Macanese Pataca (MOP)
- Macedonian Denar (MKD)
- Malagasy Ariary (MGA)
- Malawian Kwacha (MWK)
- Malaysian Ringgit (MYR)
- Maldivian Rufiyaa (MVR)
- Mauritanian Ouguiya (MRO)
- Mauritius Rupee (MUR)
- Mexican Peso (MXN)
- Moldovan Leu (MDL)
- Monero (XMR)
- Mongolian Tugrik (MNT)
- Moroccan Dirham (MAD)
- Mozambican Metical (MZN)
- Salvadoran Colon (SVC)
- Samoan Tala (WST)
- São Tomé and Príncipe Dobra (STD)
- Saudi Riyal (SAR)
- Serbian Dinar (RSD)
- Sierra Leonean Leone (SLL)
- Singapore Dollar (SGD)
- Solomon Islands Dollar (SBD)
- Somali Shilling (SOS)
- South African Rand (ZAR)
- Sri Lankan Rupee (LKR)
- Surinamese Dollar (SRD)
- Swazi Lilangeni (SZL)
- Swedish Krona (SEK)
- Swiss Franc (CHF)