BMD information
About the Bermudan Dollar(BMD)
The Bermudan Dollar, the official currency of Bermuda, is a unique symbol of the island's rich heritage and its dynamic role in the global economy. It is commonly abbreviated as BMD and represented by the symbol $. As a British Overseas Territory located in the North Atlantic Ocean, Bermuda's currency reflects its historical ties to the United Kingdom and its modern-day economic relationships.
Historical Background
Bermuda, known for its picturesque landscapes and vibrant culture, introduced the Bermudan Dollar (BMD) in 1970. This move was part of a broader decolonization trend and the desire for a distinct national identity. The Bermudan Dollar replaced the Bermudian pound at a rate of 1:1, symbolizing a shift towards closer economic ties with the United States.
Design and Symbolism
The design of Bermudan currency is a tapestry of the island's natural beauty, culture, and history. Banknotes and coins feature iconic imagery such as the Bermuda petrel, historic ships, and landmarks like St. Peter's Church. These designs serve not just as legal tender but as ambassadors of Bermuda's rich heritage and biodiversity.
Economic Role
The Bermudan Dollar is pegged to the US Dollar at a one-to-one ratio, a policy that underscores Bermuda's close economic relationship with the United States. This peg has been crucial in maintaining economic stability, particularly for a country that relies heavily on tourism and international business, primarily insurance and reinsurance.
The Tourism and International Business Connection
Tourism is a vital part of Bermuda's economy, with the Bermudan Dollar playing a central role. The currency's parity with the US Dollar simplifies transactions for the majority of tourists, who come from the United States. Additionally, Bermuda's status as an international business hub, particularly in insurance and reinsurance, has made the Bermudan Dollar an important player in global financial transactions.
The Bermudan Dollar in Global Finance
On the international stage, the Bermudan Dollar's parity with the US Dollar ensures its stability and reliability. This stability is crucial for Bermuda's international business sector, which deals with large-scale financial transactions. The country's regulatory environment, coupled with its currency stability, makes Bermuda an attractive destination for international business and finance.
MPH to BMD conversion rate trend
Conversion rate comparison of various exchanges
Exchange | Price | Maker / Taker Fee | Tradable |
---|---|---|---|
BitgetBest | $0.6089 | 0.0200% / 0.0320%VIP 7 | |
Gate.io | $0.5080 | 0.1000% / 0.1000% | Yes |
How to buy 88mph
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What factors influence the conversion rate of 88mph to Bermudan Dollar?
88mph to Bermudan Dollar is falling this week.Conversion tables
The exchange rate of 88mph is increasing.MPH to BMD
BMD to MPH
Today vs. 24 hours ago
Amount | 01:53 am today | 24 hours ago | 24h change |
---|---|---|---|
0.5 MPH | $0.3038 | $0.2797 | +8.62% |
1 MPH | $0.6075 | $0.5593 | +8.62% |
5 MPH | $3.04 | $2.8 | +8.62% |
10 MPH | $6.08 | $5.59 | +8.62% |
50 MPH | $30.38 | $27.97 | +8.62% |
100 MPH | $60.75 | $55.93 | +8.62% |
500 MPH | $303.75 | $279.65 | +8.62% |
1000 MPH | $607.51 | $559.31 | +8.62% |
Today vs. 1 month ago
Amount | 01:53 am today | 1 month ago | 1M change |
---|---|---|---|
0.5 MPH | $0.3038 | $0.2878 | +5.54% |
1 MPH | $0.6075 | $0.5756 | +5.54% |
5 MPH | $3.04 | $2.88 | +5.54% |
10 MPH | $6.08 | $5.76 | +5.54% |
50 MPH | $30.38 | $28.78 | +5.54% |
100 MPH | $60.75 | $57.56 | +5.54% |
500 MPH | $303.75 | $287.81 | +5.54% |
1000 MPH | $607.51 | $575.62 | +5.54% |
Today vs. 1 year ago
Amount | 01:53 am today | 1 year ago | 1Y change |
---|---|---|---|
0.5 MPH | $0.3038 | $0.2724 | +11.52% |
1 MPH | $0.6075 | $0.5447 | +11.52% |
5 MPH | $3.04 | $2.72 | +11.52% |
10 MPH | $6.08 | $5.45 | +11.52% |
50 MPH | $30.38 | $27.24 | +11.52% |
100 MPH | $60.75 | $54.47 | +11.52% |
500 MPH | $303.75 | $272.37 | +11.52% |
1000 MPH | $607.51 | $544.73 | +11.52% |
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