Jamaica The Jamaican Dollar (JMD) is the official currency of Jamaica, issued by the Bank of Jamaica. It was introduced in 1969, replacing the Jamaican Pound as the country transitioned from the British monetary system. The Jamaican dollar is a free-floating currency, and its value is influenced by tourism, remittances, and trade, with significant fluctuations over the years due to inflation and economic instability. The JMD is subdivided into 100 cents, though cent coins are rarely used. Banknotes range from J$50 to J$5,000, while coins are issued from J$1 to J$20. The U.S. Dollar (USD) is widely accepted in tourist areas, but all official transactions must be in JMD.
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Last updated: Exchange rates here are informational, reflecting mid-market rates which fluctuate regularly. For an estimation of the rates offered by Instarem, please check our currency conversion calculator at the time of transfer.
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Disclaimer: All information in this article is provided for general knowledge and educational use only. It should not be considered legal, tax, or financial advice. We recommend contacting a licensed expert in your area for assistance with specific concerns.
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