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LOCAL CURRENCY IN BERMUDA

Would you like to know name of the currency in Bermuda? The money used in Bermuda is called Dollar.

The Bermudian Dollar is issued and managed by the Bermuda Monetary Authority. To find out the current currency exchange rates for Dollar to other major currencies of the world, click on foreign currency rates.

Bermudian Currency Information
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The currency used in Bermuda is called as the Dollar. This currency is denoted with the currency sign BD$ and the ISO 4217 Code for the Bermudian Dollar is BMD. The Dollar, is the official currency of the Bermuda . It is divided into 100 smaller units called cent.

The constitution of Bermuda provides that the Bermuda government shall have the power to print the Bermudian Dollar and cent coins to be used as a legal tender in Bermuda. The Bermudian Dollar bank notes and Cent coins are both designated as "legal tender" in payment of debts.

The Bermudian Dollar bill uses the decimal system, consisting of 100 equal units.

The symbol BD$, usually written before the numerical amount, is used for the Bermudian Dollar.

Currently printed bank notes denominations are $2, $5, $10, $20, $50, $100 and the coins are minted in the denominations of 1, 5, 10, 25 cents, $1 50 cents.

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The Effect of Balance of Trade and Investment on the Value of Bermudian Dollar
Financial analysts regularly cite the balance of trade and investment in Bermuda as the most important influence on the value of the Dollar. The difference between what the Bermuda exports and imports in terms of goods and services to and from other countries can be obtained from a balance of trade statement.

The balance of investment on the other hand represents the difference in exports and imports of capital. If exports from Dollar exceed imports from other countries, in either the balance of trade or balance of investments, it is called a surplus. The term deficit is used when the imports into Dollar exceed exports to other countries. The points below go into detail to explain on how the balance of trade and balance of investments affect the Bermudian Dollar.
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