What can 1 dollar buy in Jamaica?

images/jamaican_one_dollar_coin

Answered by Aneisha Dobson, Associate Writer

What can 1 dollar buy in Jamaica?
Was that meant to be a joke? Or a rhetorical question?

But on a serious note, what really can a person buy with $1. For now, I am speaking about one Jamaican dollar (I'll speak about the US dollar later).

If you talk to the older folks here, you would often hear them reminiscing about 'back in the days', when $1 JMD could actually provide a meal for an entire household!

But as the saying goes, "things and times change". Today, "it can’t even buy an icy mint".

And that is literally true, because $1 can’t purchase a mint or any other type of sweets. But, why is this so?

If you send money to relatives and friends to Jamaica, you would know that the foreign exchange rate plays a vital factor in the value of our local currency.

Here’s a little economics...

Basically, in Jamaica we have a floating exchange rate. Floating exchange rate occurs when the exchange rate is determined by the demand and supply.

For instance, in Jamaica import a lot of items from various countries, such as the United States, China, Venezuela, Trinidad and Tobago, the United Kingdom and Canada.

Some of the items imported from these foreign countries are: food and consumer goods, oil, wheat, ethanol, rice, metals and a host of others.

However, Jamaica’s main trading partner is the US, which accounts for approximately 40% of imports. As such, one can say that US products are high in demand.

This causes an increase in the demand for the US currency and this results in a devaluation in the value of the Jamaican currency against the US currency. Now this significantly affects our spending power.

One day you are paying $9 for an item, then the next day you are paying $11 for the same item. So, due to the devaluation of the local currency, I now have to pay $2 extra.

Currently, the US $1 is equivalent to approximately $136 Jamaican dollars. See what I mean!

Definitely it is a cause for concern, especially since our income remains the same or increases at a slower rate compared to the sliding dollar.

As such, a lot of emphasis and effort has been placed on promoting the purchasing locally produced products.

For the meantime, I’ll continue saving my one dollars in my piggy bank. Although it’s not worth much, it still has value and incrementally, it will add up - as we say in Jamaica, “Every mickle mek a muckle”.

What Can 1 USD buy in Jamaica


one us dollar currency

And what can 1 USD buy today in Jamaica at the current rate of approximately 130 JMD to 1 USD?

Perhaps the easiest one to relate to to my readers is a bottle of 500 ML Pepsi Cola which is currently sold between 110 JMD -140 JMD.

But even better, here's a wider grocery list of items that are just under or about 1 USD per item.


  1. A bottle of Pepsi (500ML) - 120 JMD
  2. 1 pound of sugar - 100 JMD
  3. 1 pound of flour - 70 JMD
  4. 1 pound of refined cornmeal - 90 JMD
  5. 1 ICool - 100 JMD
  6. 1 Small Tin Makerel - 100 JMD
  7. 1 Banana Chips - 80 JMD
  8. A Royal Cream Crakers - 100 JMD
  9. 1 Coco bread - 80 JMD
  10. Small Monster chocolate milk - 115 JMD
  11. Note that a Jamaican Patty is priced just above the 1 USD rate now, it cost approximately 160 JMD


I hope this helps.

See also: Travelling around with money in Jamaica.

Regards,
AD

Posted: September 30, 2018
Edited: October 31, 2018

Sources:

Comments for What can 1 dollar buy in Jamaica?

Click here to add your own comments

Nov 08, 2018
What can 1 dollar buy in Jamaica!
by: Velma

Very interesting read for someone who does not visit Jamaica often. I get so confused when it is time to buy, that I let my son-in-law or some of his family do the buying for me and I just watch.

Lol! Jamaica is the only foreign country I have been to. So rates of exchange and trying to convert US dollars is "foreign" to me. Again, thanks for the information. Next time I am in Jamaica, I will try my best to "buy", but with my son-in-law close by.

Oct 07, 2018
Coins and temps
by: Roxanne

Wow, I am glad you did this article. When I am in Jamaica I don't know the coins so I don't use them. I am just saving them. Can you put up all the coins so we can see them and the amount?

Aso, your weather reporters they drive me crazy when they do the weather report. It's being told in Celsius and in the US we do degrees. I don't want to spend time doing the calculation, I just want to know what is the temperature. My suggestion is they say it in both celsius and degrees. Thanks for your help.

Oct 07, 2018
Dollar does have use
by: Robert

True one million pieces of this coin will make you a millionaire but people are ashamed to be seen picking up, spending, or even changing it at the bank.

I personally have nearly $500.00 worth and I don't know what to do with it. What I see it being used for these days is markers when playing bingo!!!

Click here to add your own comments

Join in and write your own page! It's easy to do. How? Simply click here to return to JamaicaQuestions.

Read More ...

Recommended For You ...

And, Before You Go!

Here (below) are some sweet deals on matching products at Amazon that you might have otherwise missed. 

Amazon.com, by the way, is the internet's most reputable retailer and usually showcases only the best products that are related to your search. Be sure to check them out.

Note: If link does not show, please click here to be redirected to our page at Amazon.com.


Great Articles You Might Have Missed

data-matched-content-rows-num="2" data-matched-content-columns-num="3"

Please help me get the message out by sharing this article with your friends on social media (links below). Thnx ;-)

Also connect with My-Island-Jamaica.com on Social Media: 
Facebook | Twitter | Instagram | Youtube

Thank You!

P.S. Didn't find exactly what you were looking for? Still need help?

Click Here to try our dependable and effective Site Search tool. It works!

Or, simply click here and here, to browse my library of over 500 questions and answers! Chances are someone already asked (and got an answer to) your question.


About The Author

wellesley gayle - booking link

A patriotic Jamaican who adores his culture, Wellesley has been using this medium to share what he calls 'the uniqueness of Jamaica with the world' - since April 2007.  

To date, he serves over 8,300 unique readers / viewers per day.

His efforts have earned him featured positions in local publications, including the Jamaica Gleaner's Hospitality Jamaica, Carlong Publishers, as well as recognition from numerous prestigious international agencies and universities.

He invites you to join his friends list and stay updated on all the latest. You are also invited to join his exclusive patron community

copyscpe
Top Of Page
Wellesley Gayle

What's New? Click Here And See.

Trending Now

Site Sponsors

jamaica_click_down_here_visit_our_sponsors

Our Preferred Sponsors  & Friends (below)

(Our Sponsorship Policy)

Photographers in Jamaica
Wedding Photographers
NEW! JOIN MY PATREON COMMUNITY! Click Here For Details.
Cars For Sale In Jamaica
Cars For Sale

JamaicaSunshine Tours.com

Click Here to Visit Our Sponsors' Page

Top Articles

What's New?

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

Recent Articles

  1. 4 Authentic Jamaican Christmas Dinner Ideas

    Dec 16, 18 10:49 PM

    Photo: Jamaican Curried Goat by Kadian Clarke, Associate Writer Like most places in the world, Christmas in Jamaica is a very special time of the year.

    Read More

  2. Jamaican Christmas Tree - what is its correct name?

    Dec 16, 18 01:11 AM

    Hey buddy, I need your help! Late last month, Nov 25, to be exact, I got this email from Barbara, a new subscriber and reader of my website. Barbara

    Read More

  3. Returning Residents Murder - Surprising Facts

    Dec 15, 18 11:10 PM

    Photo Source: The Sunday Observer December 9, 2018-Clovis Toons by Isreal, Associate Writer Gruesome! I recently heard about the murders of both Karen

    Read More

  4. Christmas memories! Rain into this post, was 7 years ago!

    Dec 13, 18 09:00 AM

    Mom was not around this year, but this Christmas was, ironically, one of my (and indeed the family) best ever!

    Read More

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

Please subscribe here to get my latest updates.