The Bermudian Dollar is the official currency of Bermuda, a British Overseas Territory in the North Atlantic Ocean. It is abbreviated as BMD and is pegged to the United States Dollar at a 1:1 exchange rate, making it easy for visitors from the U.S. to use their currency in Bermuda. The Bermudian Dollar is subdivided into 100 cents and features various designs that reflect the island's culture and history. It is widely accepted for transactions within Bermuda, and both the Bermudian Dollar and the U.S. Dollar are used interchangeably in many places.