MWK to BMD

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)

MWK - Malawian Kwacha (MWK)

Malawian Kwacha

The Kwacha is the official currency in Malawi since 1970. The Kwacha was adopted based on the Zambian Kwacha, which was used in Zambia since 1968. The name kwacha was derived from the Bemba word meaning dawn, reflecting the Zambian national motto: "New Dawn of Freedom." The Malawian Kwacha is subdivided into 100 tambala.

The Malawian Kwacha is the currency in Malawi (MW, MWI). The symbol for MWK can be written MK. The Malawian Kwacha is divided into 100 tambala. The exchange rate for the Malawian Kwacha was last updated on May 24, 2019 from Yahoo Finance. The MWK conversion factor has 4 significant digits.

Economy

• Malawi is considered one of the least developed countries in the world and has had unstable economic growth.
• Malawi's economy is mainly agricultural, with almost 90% of their population living in rural areas. Agriculture accounts for about 40% of the GDP and 88% of export revenues.
• The economy relies on extensive economic support from the World Bank, the IMF, and neighboring nations.
• The government has had many difficult challenges, including development of a market economy, economic problems, educational improvements, and the exponential spread of AIDS.

History

• In 1971, the Malawi Kwacha replaced the Malawian Pound at a fixed rate of two Kwacha = one Pound.
• And as of July 4, 2010, one British Pound = 227.681 Kwacha, while one US Dollar = 149.8 Kwacha, and one South African Rand = 19.4475 Kwacha.
• In May 9, 2011, an one British Pound = 257.7172 Kwacha, one US Dollar = 152.2933 Kwacha, and one South African Rand = 23.7740 Kwacha.

More information about MWK - Malawian Kwacha (MWK)