Canadian Dollar to Bermudian Dollar Exchange Rate

Live Rate

= $ 0.7656

Refreshing in: 60s | Fri, Jan 17, 06:55PM 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 January 17th, 2020
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

Jan 07 Jan 08 Jan 09 Jan 10 Jan 11 Jan 12 Jan 13 Jan 14 Jan 15 Jan 16
1 CAD = 0.7692 Inverse: 1.3001 0.7671 Inverse: 1.3036 0.7655 Inverse: 1.3063 0.7662 Inverse: 1.3051 0.7662 Inverse: 1.3051 0.7653 Inverse: 1.3067 0.7659 Inverse: 1.3057 0.7652 Inverse: 1.3068 0.7669 Inverse: 1.3040 0.7668 Inverse: 1.3042

Canadian Dollar to the Bermudian Dollar for the last 10 months

Mar 2019 Apr 2019 May 2019 Jun 2019 Jul 2019 Aug 2019 Sep 2019 Oct 2019 Nov 2019 Dec 2019
1 CAD = 0.7497 Inverse: 1.3339 0.7475 Inverse: 1.3378 0.7436 Inverse: 1.3447 0.7535 Inverse: 1.3271 0.7656 Inverse: 1.3062 0.7508 Inverse: 1.3318 0.7539 Inverse: 1.3264 0.7641 Inverse: 1.3087 0.7530 Inverse: 1.3280 0.7607 Inverse: 1.3146

Canadian Dollar to the Bermudian Dollar for the last 10 years

Jan 2010 Jan 2011 Jan 2012 Jan 2013 Jan 2014 Jan 2015 Jan 2016 Jan 2017 Jan 2018 Jan 2019
1 CAD = 0.9720 Inverse: 1.0288 1.0062 Inverse: 0.9938 0.9815 Inverse: 1.0188 1.0159 Inverse: 0.9843 0.9146 Inverse: 1.0933 0.8357 Inverse: 1.1966 0.6894 Inverse: 1.4504 0.7625 Inverse: 1.3115 0.8025 Inverse: 1.2461 0.7531 Inverse: 1.3278

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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