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A worrying example

Jamaican $100 bill — this is worth 65 Bermuda cents

Dear Sir,

In 1969, when Bermuda changed from pound sterling to Bermuda dollars, the exchange rate with the US dollar was on par, ie, one Bermuda dollar equalled one US dollar.

The exchange rate in Jamaica in 1969 was 1.20 Jamaican dollars for one US dollar.

Today, one Bermuda dollar equals one US dollar.

In Jamaica, 153.53 Jamaican dollars equal one US dollar.

What will happen to the Bermuda dollar should we no longer be Britain’s oldest self-governing overseas territory? Just a thought!



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Published December 12, 2022 at 7:58 am (Updated December 12, 2022 at 7:48 am)

A worrying example

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