The Bermudian Dollar (symbol: $; code: BMD; also abbreviated BD$; informally called the Bermuda dollar) is the official currency of the British Overseas Territory of Bermuda. It is subdivided into 100 cents. The Bermudian dollar is not normally traded outside Bermuda, and is pegged to the United States dollar at a one-to-one ratio. Both currencies circulate in Bermuda on an equal basis.
The currency was introduced on 6 February 1970. Since 1972, Bermudian law has required that local businesses charge prices in Bermudian dollars which, if paid in US dollars, must be accepted at a rate of 1:1. Only banks are legally allowed to exchange Bermudian dollars into US dollars or other currencies.
The issuer of the Bermudian Dollar is the Bermuda Monetary Authority (the Authority), which is the integrated regulator of the financial services sector in Bermuda. It is not a central bank, and does not provide lender of last resort facilities. | 
