Canadian Dollar to Bermudian Dollar Exchange Rate

Live Rate

= $ 0.7618

Refreshing in: 60s | Sat, Oct 19, 02:52PM 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.

Canadian Dollar

Known as the “loonie”, the Canadian dollar is among the world’s top ten most traded currencies. With its extreme sensitivity to movements in crude oil and other commodities, traders often use the Canadian dollar to speculate on these commodities. It’s also closely tied to the US economy and dollar.
Currency:Canadian Dollar
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

Bermudian Dollar

The official currency of Bermuda, the Bermudian dollar is fixed to the US dollar. The currency was introduced in 1972, after 130 years of the sterling era. The country also widely accepts the US dollar, meaning you may not have to exchange funds to BMD if you have USD and are heading to Bermuda.
Currency:Bermudian Dollar
Currency Symbol:$
Sub unit:cent
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.

Send money from Canada to Bermuda

Rates last updated October 19th, 2019
Name Product Min. Transfer Amount Transfer Speed Services Description Online Transfer Fee Rate Amount Received
MoneyGram International Money Transfers
CAD 1
1 day
Online, Agent, Bank Account to Bank Account, Cash Transfer, International Money Order
Easily transfer cash to more than 350,000 locations around the world.
The ‘Rate’ and ‘Amount Received’ displayed are indicative rates that have been supplied by each brand or gathered by Finder.

Exchange rates are volatile and change often. As a result, the exchange rate listed on Finder may vary to the actual exchange rate quoted for the brand. Please confirm the actual exchange rate and mention “Finder” before you commit to a brand.

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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

Oct 09 Oct 10 Oct 11 Oct 12 Oct 13 Oct 14 Oct 15 Oct 16 Oct 17 Oct 18
1 CAD = 0.7498 Inverse: 1.3336 0.7525 Inverse: 1.3289 0.7575 Inverse: 1.3201 0.7573 Inverse: 1.3205 0.7574 Inverse: 1.3203 0.7560 Inverse: 1.3227 0.7573 Inverse: 1.3206 0.7573 Inverse: 1.3204 0.7612 Inverse: 1.3136 0.7618 Inverse: 1.3126

Canadian Dollar to the Bermudian Dollar for the last 10 months

Dec 2018 Jan 2019 Feb 2019 Mar 2019 Apr 2019 May 2019 Jun 2019 Jul 2019 Aug 2019 Sep 2019
1 CAD = 0.7432 Inverse: 1.3456 0.7541 Inverse: 1.3261 0.7555 Inverse: 1.3235 0.7479 Inverse: 1.3370 0.7473 Inverse: 1.3382 0.7441 Inverse: 1.3439 0.7558 Inverse: 1.3231 0.7610 Inverse: 1.3141 0.7511 Inverse: 1.3315 0.7540 Inverse: 1.3262

Canadian Dollar to the Bermudian Dollar for the last 10 years

Oct 2009 Oct 2010 Oct 2011 Oct 2012 Oct 2013 Oct 2014 Oct 2015 Oct 2016 Oct 2017 Oct 2018
1 CAD = 0.9626 Inverse: 1.0389 0.9829 Inverse: 1.0174 0.9817 Inverse: 1.0186 1.0203 Inverse: 0.9801 0.9701 Inverse: 1.0308 0.8867 Inverse: 1.1278 0.7745 Inverse: 1.2911 0.7609 Inverse: 1.3142 0.7984 Inverse: 1.2525 0.7730 Inverse: 1.2936

Market rate for common transfer amounts CAD to BMD

Canadian Dollars (CAD) Bermudian Dollar (BMD)
$1 0
$100 0
$500 0
$1000 0
$1500 0
$2500 0
$5000 0

Exchange rates from CAD to other currencies

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