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 | Tue, Oct 27, 03:20AM 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
|Oct 17||Oct 18||Oct 19||Oct 20||Oct 21||Oct 22||Oct 23||Oct 24||Oct 25||Oct 26|
|1 GBP =||1.2915 Inverse: 0.7743||1.2926 Inverse: 0.7736||1.2948 Inverse: 0.7723||1.2956 Inverse: 0.7718||1.3129 Inverse: 0.7617||1.3078 Inverse: 0.7646||1.3043 Inverse: 0.7667||1.3046 Inverse: 0.7665||1.3053 Inverse: 0.7661||1.3015 Inverse: 0.7684|
Pound Sterling to the Bermudian Dollar for the last 10 months
|Dec 2019||Jan 2020||Feb 2020||Mar 2020||Apr 2020||May 2020||Jun 2020||Jul 2020||Aug 2020||Sep 2020|
|1 GBP =||1.3080 Inverse: 0.7645||1.3059 Inverse: 0.7657||1.2906 Inverse: 0.7748||1.2455 Inverse: 0.8029||1.2367 Inverse: 0.8086||1.2332 Inverse: 0.8109||1.2425 Inverse: 0.8049||1.2792 Inverse: 0.7818||1.3071 Inverse: 0.7651||1.2714 Inverse: 0.7865|
Pound Sterling to the Bermudian Dollar for the last 10 years
|Oct 2010||Oct 2011||Oct 2012||Oct 2013||Oct 2014||Oct 2015||Oct 2016||Oct 2017||Oct 2018||Oct 2019|
|1 GBP =||1.5934 Inverse: 0.6276||1.6119 Inverse: 0.6204||1.6104 Inverse: 0.6210||1.6176 Inverse: 0.6182||1.6116 Inverse: 0.6205||1.5309 Inverse: 0.6532||1.2241 Inverse: 0.8169||1.3130 Inverse: 0.7616||1.2834 Inverse: 0.7792||1.2827 Inverse: 0.7796|
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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