The previous high was reached last month at 1,977.77, after Bank of Bermuda shares reached a new all time high of $40.

The index has been edging back up as both bank stocks recovered after a slight dip at the end of last month.

Bank of Butterfield stock recovered to its all time high of $20 yesterday, pushing the Bermuda Stock Exchange up by 21.5 points.

The bank's stock rose 5.3 percent or $1.00 after 4,800 shares changed hands.

Bank of Bermuda stock saw robust trading of 20,392 shares, but the price remained unchanged at $40.

The only other change was KeyTech Ltd shares, which rose 25 cents to close at $34.50.

The index closed up 1.1 percent on a volume of 25,392 shares worth $920,080.