The Official
Currency Of Jamaica

subscribe here if new
Custom Search




The Jamaican Dollar (JMD) is the official currency of Jamaica. It is divided into 100 cents.

According to GoCurrency, "The first money in Jamaica was Spanish copper coins called Maravedis. Later, other silver coins were implemented, as the British began to rely on Jamaica to a large extent."

Spanish pesos, reales, and British pounds, were all at one time circulating in Jamaica.

Picture Jamaican Money- Bank Notes + $20, $10 and $5 coins

In 1839, Parliament passed a law that disallowed all currencies, except for British coinage, as legal tender. From 1904, the first government distributed and authorized banknotes were introduced.

In 1960, the Bank of Jamaica was given the sole responsibility of producing coins and banknotes."

On January 30, 1968, the Jamaican House of Representatives voted to decimalize the currency by introducing the dollar, worth 10 shillings, to replace the pound. Coins and banknotes went into circulation on September 8, 1969.

Although the Jamaican Dollar is the legal tender of Jamaica, the US dollar is widely accepted. It is unofficially OK to use the $US anywhere, although it is recommended that you convert your foreign currency into local dollars before transacting business.

You can exchange money and traveler's cheques at a number of hotels and in banks. Many establishments accept US traveler’s cheques.

Cash withdrawals are possible from automated teller machines linked to the Cirrus system (see the back of your bankcard).

Most of the larger establishments in addition to hotels accept credit cards.

As of September 2009, the coins in circulation were:

  • 1 cent
  • 10 cent
  • 25 cent
  • $1
  • $5
  • $10 &
  • $20 &Banknotes were: [see picture above]
  • $50
  • $100
  • $500
  • $1000 & the new...
  • $5000.

Today the value of the currency - relative to its international trading partners, continues to decline. In fact, it is quite funny that we continue to circulate the $1 coin even though no one uses it!

I'm been honest, no one really uses it anymore! Even the boys who wipes the car screens at the stop lights frown at it - and that is understandably as it, in colloquial saying 'can't even buy an icy mint'.

Sigh.

You can get the latest rates on the BOJ's Website. [opens in a new window]. Look for weighted average rate.

See Also: Jamaican Bank Notes In Circulation (Pictures)

Return to Jamaican Coins Pictures from Currency of Jamaica
Return to My Island Jamaica from Currency of Jamaica

Pages Related To Currency Of Jamaica

Like our Facebook page https://www.facebook.com/myislandjamaica
Follow us on Twitter https://twitter.com/myislandjamaica

New! Comments

Have your say about what you just read! Leave me a comment in the box below.

Thanks For Reading!
Like What You Just Read?

Please join me in my effort to share the beauty and uniqueness of Jamaica with the world. You can do so by sharing this insightful narrative with your friends on the social media of your choice and ask them to do the same (BELOW). 

Great Articles You Might Have Missed

Need Help?

We have a cherry list of top Jamaican companies that might be able to help you. Please click here to see them, our preferred partners and site sponsors.

Get Exclusive Updates & Tips!

You are also welcome to join my special friends list and receive exclusive updates (like this), tips, trivia and stories from lovers of Jamaica!

facts about jamaica book icon

I'll Gift You A FREE COPY of my eBook, 101 Intriguing Facts About Jamaica - just for subscribing!

Just enter your email & name below:

copyscpe
Top Of Page
Wellesley Gayle

What's New? Click Here And See

New!  I've created a Welcome Audio. Just click the Play button below to listen.

Please subscribe here to get my latest updates.

SEARCH THE SITE



Site Sponsors

jamaica_click_down_here_visit_our_sponsors

Our Preferred Sponsors (below)

(Our Sponsorship Policy)

Luna Sea Inn
Luna Sea Inn Photographers in Jamaica
Wedding Photographers
Jamaican Souvenirs
Best Jamaican Souvenirs Cars For Sale In Jamaica
Cars For Sale

Click Here to Visit Our Sponsors' Page

Did You Miss These?

What's New?

Below is a list of the very latest articles I posted on the site.

Recent Articles

  1. Jamaican Mento Music - The Origins, The Style & Flavour, Plus A Video

    Apr 25, 17 11:49 PM

    Love Reggae? Chances are you'll adore Jamaican mento music as well, if not already. Here's the full scoop with a little video.

    Read More

  2. Internet Usage In Jamaica - Quick Stats & Figures

    Apr 24, 17 11:24 PM

    You might be alarmed! Internet usage in Jamaica is rapidly spreading out from the cities and into into the interior of the island. Here are the raw facts and figures.

    Read More

  3. JamaicApp - Sharing Jamaica on an App

    Apr 23, 17 11:07 PM

    You asked, we delivered! Yes, it's here, finally! JamaicApp - My-Island-Jamaica.com on an App! And the name? JamaicApp, a simple but slick merger

    Read More

  4. Jamaican Plantain - Fried, Baked, Grilled Or Even As Porridge - Have It Your Way

    Apr 23, 17 11:44 AM

    Ripe, green, fried, cooked, baked, grated, blended; this list speaks of the versatility of a mystery fruit - Jamaican plantain.

    Read More

Check Availability & 
Rates in Jamaica

Booking.com