Bermudian Dollar (BMD)




Bermuda is located in the North Atlantic Ocean, southeast of North Carolina, USA, south of Nova Scotia, Canada and north of Puerto Rico. Bermuda is an archipelago, consisting of around 181 islands. 8 of the bigger islands are connected by bridges, and these islands house the country’s populations. Bermuda was originally claimed by the Spanish and named after Juan de Bermúdez, a Spanish sea explorer. However Bermudez but never landed on the island. The first to permanently settle on the islands were the English Virgina Company. It was originally administered by the English Virginia Company and subsequently by their spin-off company, until the company’s charter was revoked, and the English Crown took over.

The capital of Bermuda is Hamilton, and the island is divided into 9 parishes and 2 incorporated municipalities. The population is around 64,500 and the official currency is the Bermudian Dollar, which is pegged to the US dollar. The main language of Bermuda is Bermudian English, which has characteristics of British, creole, and American English. Portuguese is also spoken in Bermuda due to immigration from Portugal. Those from Bermuda are known as Bermudian, and Bermuda operates as a Parliamentary Democracy. By virtue of their status as an overseas territory, ultimate executive authority vests in the Queen, and responsibility for defence and foreign affairs is vested with the UK. The authority of the Queen is exercised by a Governor on her behalf. The Governor is appointed by the Queen on the advice of the British Government.