BMD to STD

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.

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STD - São Tomé & Príncipe Dobra (1977–2017) (STD)

São Tomé & Príncipe Dobra (1977–2017)

Sao Tome and Principe are two small Portuguese-speaking islands approximately 140 kilometers apart in the Gulf of Guinea. The Dobra is the official currency of the islands and is represented by the symbol Db. The Dobra was pegged to the Euro in 2010 at a stable rate of 1 Euro = 24,500 STD.

The Sao Tome Dobra is the currency in Sao Tome and Principe (ST, STP). The symbol for STD can be written Db. The Sao Tome Dobra is divided into 100 centimos. The exchange rate for the Sao Tome Dobra was last updated on May 24, 2019 from Yahoo Finance. The STD conversion factor has 5 significant digits.

Economy

• Economic development in Sao Tome and Principe has been adversely affected by factors such as government decisions and natural disasters, as well as lack of resources.
• Cocoa has been the main contributor to economic development in Sao Tome and Principe for the past 34 years. However, this has been affected by disasters such as drought. Bananas, fish, cinnamon, beans, and poultry also contribute to agricultural production, but it does not meet the needs of the consumers.
• Modern economic development has been geared towards developing the large amount of oil said to be present in the Gulf of Guinea.
• The majority of manufactured goods are imported.
• The authorities have tried to decrease price controls and grants, but monetary development has remained inactive.

History

• The Escudo was replaced by the Dobra at a rate of 1:1.
• In 1996, banknotes were issued in denominations of 5,000, 10,000, 20,000 and 50,000 dobras.
• In 1997, coins were issued in denominations of 50 cêntimos, 1, 2, 5, 10 and 20 dobras.
• In 1997, banknotes were issued in denominations of 50, 100, and 1,000 dobra.
• In 2008, 10,000 dobra banknotes were issued.
• In 2010, the Dobra was officially pegged to the Euro at a stable rate of 1 Euro = 24,500 STD.

More information about STD - São Tomé & Príncipe Dobra (1977–2017) (STD)