Converting from Bermuda Dollar (BMD) to Guatemala Quetzal (GTQ)

What is Bermuda Dollar (BMD)

The Bermuda Dollar (BMD) is the official currency of Bermuda, a British Overseas Territory located in the North Atlantic Ocean. The currency is commonly abbreviated as “BMD” and is symbolized by the dollar sign (＄). One of the unique features of the Bermuda Dollar is its peg to the United States Dollar (USD), which means that 1 BMD is equal to 1 USD. This stable value makes the Bermuda Dollar a reliable currency for both locals and tourists.

The Bermuda Dollar is divided into 100 cents. Coins come in denominations of 1, 5, 10, 25 cents, and 1 dollar, while banknotes are available in 2, 5, 10, 20, 50, and 100 dollar denominations. This variety allows for easier transactions, making it more convenient for day-to-day purchases.

Tourism plays a significant role in Bermuda’s economy, and the Bermuda Dollar is widely accepted in various establishments such as hotels, restaurants, and shops. Travelers should note that while BMD is accepted in Bermuda, it is not commonly used outside the territory.

What is Guatemala Quetzal (GTQ)

The Guatemala Quetzal (GTQ) is the official currency of Guatemala, named after the national bird of the country, the resplendent quetzal. The currency is abbreviated as “GTQ” and is represented by the symbol Q. The quetzal is divided into 100 centavos, similar to other currencies.

The Quetzal has been the currency of Guatemala since 1925, replacing the Guatemalan peso. Its value fluctuates based on economic conditions, and it can be affected by various factors, including inflation, trade balance, and government policies. Coins are available in denominations of 1, 5, 10, 25, and 50 centavos, as well as 1, 5, and 10 quetzals. Banknotes come in denominations of 1, 5, 10, 20, 50, 100, and 200 quetzals.

The Guatemalan economy relies heavily on agriculture, textiles, and remittances from Guatemalans living abroad. The Guatemalan Quetzal is widely accepted throughout the country and is essential for daily life, trade, and economic development.

Currency Conversion

When converting from Bermuda Dollars (BMD) to Guatemala Quetzals (GTQ), it is essential to check current exchange rates, as they fluctuate regularly. As of now, you can use the approximate exchange rate of

1 BMD ≈ 7.80 GTQ

, but this rate can change due to market conditions.

In summary, knowing about the Bermuda Dollar and Guatemala Quetzal is essential for anyone planning to travel between these locations or engage in international commerce. Always keep an eye on the latest exchange rates to make informed financial decisions.