Converting from Bermuda Dollar (BMD) to CFP Franc (XPF)

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. Adopted in 1970, the Bermuda Dollar is pegged to the US Dollar (USD) at a one-to-one exchange rate, meaning that ＄1 BMD is equivalent to ＄1 USD. The currency is represented by the symbol "B＄" to differentiate it from the US Dollar.

The Bermuda Monetary Authority (BMA) is responsible for issuing and regulating the Bermuda Dollar. The currency is used widely in everyday transactions within the territory, including in businesses, shops, and restaurants. Although the Bermuda Dollar is accepted by locals and tourists alike, US Dollars are also commonly used, making it convenient for visitors who come from the United States.

The notes and coins come in various denominations. The banknotes include ＄2, ＄5, ＄10, ＄20, ＄50 and ＄100, while the coins are available in denominations of 1 cent, 5 cents, 10 cents, 25 cents, and 50 cents, as well as ＄1. The design of the currency often reflects Bermuda's culture and history, featuring images of national landmarks and notable figures associated with the island.

What is CFP Franc (XPF)

The CFP Franc (XPF) is the currency used in several French territories in the Pacific, including French Polynesia, New Caledonia, and Wallis and Futuna. Introduced in 1945, the currency is officially known as "Franc Pacifique" and is sometimes referred to as the "Pacific Franc." The CFP Franc is pegged to the Euro (EUR) at a rate of 1 EUR = 119.33 XPF.

The Central Bank of the French Pacific, known as "Institut d'Émission d'Outre-Mer" (IEOM), is responsible for issuing and regulating the CFP Franc. The currency is essential for daily transactions in these territories, where various denominations are used in everyday commerce.

Banknotes are available in denominations of 500, 1,000, 5,000, and 10,000 XPF, while coins come in denominations of 1, 2, 5, 10, 20, 50, and 100 XPF. The banknotes and coins often feature local cultural symbols and significant historical figures, making them unique to the region.

Converting Between BMD and XPF

When converting between Bermuda Dollars and CFP Francs, it's important to check the current exchange rate. The exchange rate fluctuates based on market conditions, and local banks or currency exchange services can provide up-to-date rates. To convert BMD to XPF, you can use the formula:

XPF = BMD × Exchange Rate

Understanding the currencies of Bermuda and the French Pacific can help travelers, businesses, and investors navigate financial transactions more smoothly. Whether enjoying a trip to Bermuda or exploring French Polynesia, knowing how to convert these currencies is essential for making purchases and managing finances.