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 | Tue, Aug 20, 01:05AM 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
|Aug 10||Aug 11||Aug 12||Aug 13||Aug 14||Aug 15||Aug 16||Aug 17||Aug 18||Aug 19|
|1 CAD =||0.7545 Inverse: 1.3254||0.7565 Inverse: 1.3220||0.7555 Inverse: 1.3237||0.7567 Inverse: 1.3215||0.7512 Inverse: 1.3311||0.7509 Inverse: 1.3318||0.7533 Inverse: 1.3275||0.7533 Inverse: 1.3275||0.7537 Inverse: 1.3268||0.7502 Inverse: 1.3330|
Canadian Dollar to the Bermudian Dollar for the last 10 months
|Oct 2018||Nov 2018||Dec 2018||Jan 2019||Feb 2019||Mar 2019||Apr 2019||May 2019||Jun 2019||Jul 2019|
|1 CAD =||0.7625 Inverse: 1.3115||0.7592 Inverse: 1.3172||0.7408 Inverse: 1.3499||0.7533 Inverse: 1.3276||0.7592 Inverse: 1.3171||0.7451 Inverse: 1.3422||0.7446 Inverse: 1.3430||0.7442 Inverse: 1.3437||0.7585 Inverse: 1.3184||0.7598 Inverse: 1.3162|
Canadian Dollar to the Bermudian Dollar for the last 10 years
|Aug 2009||Aug 2010||Aug 2011||Aug 2012||Aug 2013||Aug 2014||Aug 2015||Aug 2016||Aug 2017||Aug 2018|
|1 CAD =||0.9079 Inverse: 1.1015||0.9666 Inverse: 1.0345||1.0132 Inverse: 0.9870||1.0113 Inverse: 0.9889||0.9677 Inverse: 1.0334||0.9182 Inverse: 1.0891||0.7652 Inverse: 1.3068||0.7781 Inverse: 1.2852||0.7886 Inverse: 1.2681||0.7657 Inverse: 1.3060|
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)