2 Dollars - Elizabeth II

The Bermuda Monetary Authority replaced the Bermuda Government as the issuing body in 1969, and by the late 1980s the BMA was refining its security printing relationships — De La Rue had been the dominant printer for Bermudian currency through most of the postwar period. This series was issued across two years, 1988 and 1989, with date appearing on the note itself as the primary distinguishing factor between the two printings.

The watermark remains the sole listed security feature, modest by the standards of what De La Rue was producing for other clients at the same time — the late 1980s being the period when machine-readable and foil-strip technologies were becoming routine on higher-value issues.