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Economy and Banking Sector of Bermuda

National Currency

Bermudian Dollar (BMD)

Since 1970, the official currency of Bermuda is Bermudian dollar (BMD), it is pegged to the United States dollar at a one-to-one ratio: 1 USD = 1 BMD.

Pegged Rate

1 USD = 1 BMD

Main Sectors

Main sectors of the economy of Bermuda are:

  • tourism
  • light manufacturing
  • offshore financial services

Credit Ratings (as of May 2018)

Fitch
-
Moody's
A2 (upper medium grade), outlook stable

Bermuda has a sovereign credit rating assigned by Moody's: the rating is A2 (upper medium grade), outlook stable.