BMD to BBD

BBD - Barbadian Dollar (BBD)

Barbadian Dollar

The Barbados Dollar (BBD) has been the currency of Barbados since 1935. The symbol used for the dollar is the same as the US Dollar ($). However, BDs$ is used to distinguish the BBD from other dollar currencies. The Barbados Dollar is subdivided into 100 cents.

The Barbados Dollar is the currency in Barbados (BB, BRB). The Barbados Dollar is also known as BDS. The symbol for BBD can be written Bds$. The Barbados Dollar is divided into 100 cents. The exchange rate for the Barbados Dollar was last updated on May 24, 2019 from Yahoo Finance. The BBD conversion factor has 2 significant digits.

Economy

• The main industries in the economy are tourism and offshore investments.
• Other income is from sugar and light manufacturing.
• The Barbados economy is a service-driven economy, as well as an international business center.
• The average growth rate for the Barbados economy ranges from 3.5% to 5%.
• No substantial exports come from Barbados and the country relies largely on imports.
• Barbados focuses on developing the service sector, from financial services to educational and health services.
• Agriculture is mainly sugar cane farming. The main food crops are corn, sweet potatoes, eddos, yams, and cassava.
• Construction is a secondary industry and is mainly due to tourism and residential growth.

History

• Barbados formed part of the British Caribbean territories. The British Pound Sterling was adopted by Barbados in 1848.
• After the Pound was adopted, the previous silver pieces continued to circulate, especially in the private sector.
• The first dollar form of banknotes was issued in 1882.
• In 1949, the British West Indies dollar was introduced, and Barbados was officially tied in with the British Eastern Caribbean islands.
• In 1965, Barbados replaced the British West Indies Dollar with the Eastern Caribbean Dollar.
• In 1972, the present Dollar was introduced by the Central Bank of Barbados.
• Since 1975, the Barbados Dollar has been pegged to the United States Dollar at 2BDs$ = 1 USD.

More information about BBD - Barbadian Dollar (BBD)

BMD - Bermudan Dollar (BMD)

Bermudan Dollar

Bermuda’s official currency is the Bermudian Dollar (BMD). The symbol used for the Bermudian Dollar is the same as the US Dollar ($). The country also uses BD$ to distinguish the Bermudian Dollar from the USD. The Dollar is divided into 100 cents. No trading of the Bermudian Dollar is done outside the island of Bermuda.

The Bermuda Dollar is the currency in Bermuda (BM, BMU). The symbol for BMD can be written Bd$. The Bermuda Dollar is divided into 100 cents. The exchange rate for the Bermuda Dollar was last updated on Today from The International Monetary Fund. The BMD conversion factor has 6 significant digits.

Economy

• Bermuda’s economy is stable and the country has a high capita per income compared to the rest of the world.
• The tourist industry accounts for 28% of the GDP and mainly receives business from North America. The service industry accounts for 89% of the total GDP.
• International Business accounts for 60% of the economic output of Bermuda.
• Bermuda imports 80% of its food products.
• The island is also an offshore financial institution.
• The unemployment rate is estimated at 2.1%.
• The main export product is pharmaceuticals.
• Import products are food, construction material, machinery, live animals, clothing, and fuels.

History

• Like its Caribbean neighbors, Bermuda used the Spanish Dollar for over four decades.
• In 1842, the Sterling became the official currency of Bermuda.
• During the 1850s the Spanish Dollar was taken out of circulation; however, it was put back into circulation in 1870s.
• In 1876, legislation was enacted to prevent the Spanish Dollar from returning.
• Until 1970, the Bermuda Sterling was the official currency of Bermuda.
• Bermuda introduced the Dollar in 1970 but kept the Sterling. At that point the Sterling and Dollar had a fixed exchange rate of $2.40 = £ 1.
• In 1972, the Sterling era ended and Bermuda pegged its dollar to the US Dollar at par.
• Control over the Sterling was abolished in 1979.

More information about BMD - Bermudan Dollar (BMD)