26/06/2020: Currency peg under review
Barbados announced that it would review the decades-long currency peg of 2:1 with the US dollar, considering a shift to a floating exchange rate.
01/01/2019: Switch to the Bermuda dollar symbol
Bermuda officially adopted a new currency symbol for the Bermudian dollar, replacing the British pound sign used previously.
16/03/2015: Redesign of banknotes
The Bermuda Monetary Authority unveiled a redesigned series of banknotes featuring enhanced security features and updated designs.
05/08/2013: Devaluation of currency
Barbados devalued its currency by 10% to stimulate economic growth and competitiveness.
01/05/2012: Introduction of polymer banknotes
Bermuda introduced polymer banknotes to replace paper currency for better durability and security.
01/01/1997: Incorporation into Federal Reserve System
The US Federal Reserve System incorporated the Bermuda Monetary Authority into its banking system.
24/07/1995: New currency design
Barbados introduced a new design for its currency, featuring national symbols and landmarks.
06/01/1982: New notes and coins
Bermuda issued new notes and coins, featuring iconic local sights, to commemorate its 375th anniversary.
05/05/1975: Introduction of decimalization
Barbados introduced decimalization, dividing the Barbadian Dollar into 100 cents.
01/01/1973: Fixed exchange rate
Barbados fixed its currency exchange rate to the US dollar at a rate of 2 Barbadian Dollars to 1 US Dollar.
03/07/1972: Barbados gains independence
Barbados gained independence from British rule, leading to the establishment of the Central Bank of Barbados.
25/02/1972: Introduction of decimal coins
Bermuda introduced a decimal currency system, replacing the old pounds, shillings, and pence.
06/07/1970: Currency Board Agreement
Bermuda established a Currency Board System, pegging the Bermudian dollar at par with the US dollar.
01/10/1935: Introduction of Barbadian Dollar
The Barbadian Dollar was introduced as the official currency of Barbados, replacing the East Caribbean dollar.