5 Dollars - Elizabeth II

The Bermuda Monetary Authority was established in 1969 specifically to replace the Bermuda Government as the island's currency-issuing body, giving the territory a degree of monetary independence while remaining firmly within the sterling area in practice. By 2000, De La Rue had been printing Bermuda's notes for decades — the relationship stretches back to the earliest government issues — and this note belongs to a series that updated security features incrementally rather than through wholesale redesign.

The watermark on this issue is the sole listed security feature, which is notably lean for a millennial-era De La Rue production, when windowed security threads were already standard on most comparable territories' notes.