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.
xcDOT to BMD conversion rate trend
Conversion rate comparison of various exchanges
Exchange | Price | Maker / Taker Fee | Tradable |
---|---|---|---|
BitgetBest | $6.95 | 0.0200% / 0.0320%VIP 7 |
How to buy xcDOT
Buy xcDOT (or USDT) for BMD (Bermudan Dollar) offers
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What factors influence the conversion rate of xcDOT to Bermudan Dollar?
xcDOT to Bermudan Dollar is falling this week.Conversion tables
The exchange rate of xcDOT is increasing.xcDOT to BMD
BMD to xcDOT
Today vs. 24 hours ago
Amount | 19:05 today | 24 hours ago | 24h change |
---|---|---|---|
0.5 xcDOT | $3.46 | $3.53 | -1.79% |
1 xcDOT | $6.93 | $7.06 | -1.79% |
5 xcDOT | $34.65 | $35.28 | -1.79% |
10 xcDOT | $69.29 | $70.55 | -1.79% |
50 xcDOT | $346.46 | $352.75 | -1.79% |
100 xcDOT | $692.91 | $705.51 | -1.79% |
500 xcDOT | $3,464.56 | $3,527.54 | -1.79% |
1000 xcDOT | $6,929.12 | $7,055.07 | -1.79% |
Today vs. 1 month ago
Amount | 19:05 today | 1 month ago | 1M change |
---|---|---|---|
0.5 xcDOT | $3.46 | $3.16 | +9.48% |
1 xcDOT | $6.93 | $6.33 | +9.48% |
5 xcDOT | $34.65 | $31.65 | +9.48% |
10 xcDOT | $69.29 | $63.29 | +9.48% |
50 xcDOT | $346.46 | $316.46 | +9.48% |
100 xcDOT | $692.91 | $632.91 | +9.48% |
500 xcDOT | $3,464.56 | $3,164.57 | +9.48% |
1000 xcDOT | $6,929.12 | $6,329.14 | +9.48% |
Today vs. 1 year ago
Amount | 19:05 today | 1 year ago | 1Y change |
---|---|---|---|
0.5 xcDOT | $3.46 | $3.94 | -11.99% |
1 xcDOT | $6.93 | $7.87 | -11.99% |
5 xcDOT | $34.65 | $39.37 | -11.99% |
10 xcDOT | $69.29 | $78.73 | -11.99% |
50 xcDOT | $346.46 | $393.66 | -11.99% |
100 xcDOT | $692.91 | $787.32 | -11.99% |
500 xcDOT | $3,464.56 | $3,936.62 | -11.99% |
1000 xcDOT | $6,929.12 | $7,873.24 | -11.99% |
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