$129 Million Bermuda Dollars In Circulation
Bermuda consumers are tightening their belts this Christmas as the recession continues to eat into household budgets — but local shoppers will still be spending over the holiday period.
The Bermuda Monetary Authority today (Dec. 23) said the amount of Bermuda dollar notes and coins in circulation over the coming holiday weekend will be $129.7 million. This compares with a total of $139 million in circulation at the same period last year, a decline of 6.7 %.
The total amount of notes and coins issued to the Bermudian banks by the Bermuda Monetary Authority between December 1 and December 23 — the traditional pre-Christmas period — is $8.6 million. This compares with a figure of $17 million during the same period last year, a steep drop-off of almost 50%.
Cup Match and Christmas are traditionally time periods when the figures for notes and coin in circulation
rise sharply, said the BMA. This seasonal peak is normally reversed very quickly after the holiday.
