1 Dollar - Elizabeth II 4th portrait

The Bermuda Monetary Authority has issued its own currency since 1970, when Bermuda decoupled from the pound sterling and pegged the new dollar one-to-one with the US dollar — a parity it has maintained without interruption. That fixed rate is not managed by a central bank in the conventional sense; the BMA holds US dollar reserves equal to 100% of the currency in circulation, making devaluation structurally impossible under current law.

Effigy changes on Commonwealth coinage typically track Ian Rank-Broadley's fourth portrait introduction in 1998, and Bermuda adopted it promptly. The run through 2019 reflects the portrait's replacement by Jody Clark's fifth effigy in subsequent issues.