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.
Pound Sterling to Bermudian Dollar Exchange Rate
Refreshing in: 60s | Mon, Aug 03, 09:17AM GMT
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How can I get the best exchange rate between US 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 are looking 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 bad exchange rate that banks often charge. International bank transfer is typically a slow way to transfer money to Bermuda.
The fastest and cheapest way is usually online money transfer services. They offer better exchange rates, lower fixed fees, and faster transfers than traditional banks. There are many online money transfer services available and you can find a review of most of them here on finder.com
Because of the 1-to-1 peg with the US dollar, 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 at all if you are going to Bermuda.
|Sub unit symbol:||p|
|Bank notes:||£5, £10, £20, £50|
|Coins:||1p, 2p, 5p, 10p, 20p, 50p, £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.
Pound Sterling to the Bermudian Dollar for the last 10 days
|Jul 24||Jul 25||Jul 26||Jul 27||Jul 28||Jul 29||Jul 30||Jul 31||Aug 01||Aug 02|
|1 GBP =||1.2792 Inverse: 0.7818||1.2792 Inverse: 0.7818||1.2794 Inverse: 0.7816||1.2888 Inverse: 0.7759||1.2924 Inverse: 0.7737||1.2979 Inverse: 0.7705||1.3115 Inverse: 0.7625||1.3085 Inverse: 0.7642||1.3085 Inverse: 0.7642||1.3100 Inverse: 0.7634|
Pound Sterling to the Bermudian Dollar for the last 10 months
|Oct 2019||Nov 2019||Dec 2019||Jan 2020||Feb 2020||Mar 2020||Apr 2020||May 2020||May 2020||Jun 2020|
|1 GBP =||1.2333 Inverse: 0.8108||1.2938 Inverse: 0.7729||1.2997 Inverse: 0.7694||1.3147 Inverse: 0.7606||1.3205 Inverse: 0.7573||1.2766 Inverse: 0.7833||1.2381 Inverse: 0.8077||1.2502 Inverse: 0.7999||1.2345 Inverse: 0.8100||1.2388 Inverse: 0.8072|
Pound Sterling to the Bermudian Dollar for the last 10 years
|Aug 2010||Aug 2011||Aug 2012||Aug 2013||Aug 2014||Aug 2015||Aug 2016||Aug 2017||Aug 2018||Aug 2019|
|1 GBP =||1.5909 Inverse: 0.6286||1.6298 Inverse: 0.6136||1.5614 Inverse: 0.6405||1.5288 Inverse: 0.6541||1.6819 Inverse: 0.5946||1.5589 Inverse: 0.6415||1.3344 Inverse: 0.7494||1.3228 Inverse: 0.7560||1.3016 Inverse: 0.7683||1.2161 Inverse: 0.8223|
Market rate for common transfer amounts GBP to BMD
|Pound Sterlings (GBP)||Bermudian Dollar (BMD)|
Exchange rates from GBP 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)
- 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)
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