The Bermudian dollar (BMD) is the currency of Bermuda. It is subdivided into 100 cents. The Bermudian dollar is pegged to the US dollar at a 1:1 ratio. The Bermuda Monetary Authority is responsible for issuing and regulating the currency. Due to its peg to the USD, its value mirrors that of the US dollar. The Bermudian dollar is primarily used within Bermuda for domestic transactions.