Subscribe for all my updates and don't miss a thing! Sign me up!

Jamaica Currency
History, Denominations  & Current Exchange Rates

Sharing Is Caring! Share this awesome content with your friends now.

start_here_if_new_image_link

see_jamaica_in_videos_banner_july_2024_large
Jamaica Currency | The New Bank Notes (source: Loop Jamaica)Jamaica Currency | The New Bank Notes (source: Loop Jamaica)

Contributed by Stacey Ann Gayle

Denoted by the code JMD, our local currency comes in the form of notes and coins, or dollars and cents.

New! Take a piece of Jamaica with you💃!

Savour the memories!  Now you can get your authentic Jamaican souvenir items, as well as traditional Jamaican herbs, spices and housewares on our popular e-store. Click Here to learn more.


And, if you ever need a trustworthy and knowledgeable local guide, consider booking a private tour with us!

Jamaica Currency History

The first monies that were used here were pesos, reales and coins (gold and silver) used by the Spaniards, and pounds, shilling and pence use by the British.

In the 1960’s the Bank of Jamaica was given sole responsibility by the Jamaican parliament for providing coins and notes to be officially used for our currency.

The front of these moneys (then) bore a portrait of Queen Elizabeth 11, the Jamaican coat of arms, and the signature of the first governor of the bank, Stanley w. Payton. On the back appeared different images of Jamaican life.

Jamaican Currency Today

jamaica currency

Our money today can be identified either by a former national hero (or heroine), or a past leader of the country.

Also some national symbol would be on it too, for example the ackee - the national fruit, or the National Coat of Arms.

Growing up we would have these moneys in notes ranging from 50¢; $2.00; $5; $10 and $20 and could be used to purchase a lot of items at the local shop or supermarket.

Nowadays you will find them in coins of various shapes and sizes; sadly though, they cannot be used to purchase much - if anything at all!

The picture above shows what our notes once looked like, minus the still fairly new $5000 note that was released in 2009. However in 2022, it was announced that not only will we be receiving and upgrade on the current notes but we will be an additional note, the $2000. These notes are now officially in circulation, in June 2023, and they are absolutely beautiful. Our coins that are currently in use are in $1; $5; $10 and $20 denominations, these did not receive an upgrade. Here's what you will see on the new notes once you get your hands on them. 

  • Images of the late former prime ministers Edward Seaga and Michael Manley will appear on the new $2,000 notes.
  • Hugh Shearer and Donald Sangster, both former prime ministers, will appear on the updated $5,000 notes.
  • Norman Manley and Sir Alexander Bustamante, national heroes and founding fathers, will be featured prominently on the enhanced $1000 notes.
  • Sam Sharpe and Nanny of the Maroons will share the upgraded $500 notes.
  • National heroes Paul Bogle and George William Gordon will share the enhanced $50 notes. 
  • Marcus Garvey, Jamaica's first national hero, will be the only figure on the updated $100 notes.

The notes have improved durability and better material, improved security measures, raised dotting features for the blind, clear colors, and other distinctions between and among banknotes of various values.

What Is The Current Exchange Rate

The exchange rate varies daily, but as of November 6, 2019, the Jamaica currency rate (to the USD), according to the Bank Of Jamaica, was $139.39 Jamaican dollars to the US dollar. Remember this is the buying price, meaning the rate that banks will buy it from you at.

If they are selling (giving) it to you for Jamaican dollars, it is usually at at higher rate. At the above date, it was $141 JMD for 1 USD. The rate to buy and sell at each bank may differ. 

As of June 15, 2023 though, the exchange rate has gone up to JMD $154.52 per USD $1.

jamaica currency rates todayJamaica Currency (past) Rates
Jamaica currency past ratesJamaica Currency Exchange rate

Note that twenty (20) other currencies are listed with rates relative to the Jamaican Dollar, these are the...

  • AUSTRALIAN DOLLAR
  • BAHAMAS DOLLAR
  • BARBADOS DOLLAR
  • BELIZE DOLLAR
  • CANADA DOLLAR
  • CAYMAN DOLLAR
  • DANISH KRONA
  • DOMINICAN REP. PESO
  • E. C. DOLLAR
  • EURO
  • GIBRALTAR POUND
  • GREAT BRITAIN POUND
  • GUYANA DOLLAR
  • HONG KONG DOLLAR
  • JAPANESE YEN
  • NORTHERN IRELAND POUND
  • NORWEGIAN KRONE
  • SWEDISH KRONA
  • SWISS FRANC & the
  • T&T DOLLAR

Remember you can always get the most updated Jamaica exchange rate at the Bank Of Jamaica's website. Click this link to hop over and see for yourself.

I Should Tell You...

By the way, if you are coming here with USD, do note that most business places and institutions in Jamaica, especially those that do business in the tourist industry, does accept the use of the United States dollar so you and our visitors will have no problem when you get here.

You can exchange the US dollar or any other currency in Jamaica at any bank, Cambio or foreign exchange (fx) trader.

Electronic instruments are also widely accepted in Jamaica today.
Read more about how much money to bring to Jamaica here.

Recommended: Should I Take Cash Or Card To Jamaica, How Much Cash Can I Carry Legally To Jamaica?

You might like these as well

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


If you found this page useful, please consider subscribing to my weekly newsletter, to get even more. 

It tells you each week about the new information that I have added, including new developments and great stories from lovers of Jamaica! 

New Video - How Much Money To Bring To Jamaica

I just published a video on YouTube on how much money to bring to Jamaica. The link is below. Simply click the PLAY button and listen :-)

Return to Profile of Jamaica from Jamaica Currency
 Return to My Island Jamaica Homepage from Jamaica Currency

References & Sources For Jamaica Currency

  1. https://www.globalexchange.com.jm/en/currencies-of-the-world/jamaican-dollar
  2. Morgan, M. (2023, March 8). Jamaica’s Finance Minister says new banknotes set for public release by mid-June. CNW Network. https://www.caribbeannationalweekly.com/caribbean-breaking-news-featured/jamaicas-finance-minister-says-new-banknotes-set-for-public-release-by-mid-june/

New! Comments

Have your say about what you just read! Leave me a comment in the box below.
Back To The Top Of This Page

New! Get My Latest Book👇🏿

JAMAICA_ON_A_BUDGET_EBOOK_COVER_LEAN

You asked, I've answered! You no longer need to save for months or years, to enjoy paradise!

JAMAICA On A Budget is your passport to experiencing what I call 'The Real Jamaica' on a budget!

I spilled the beans! sharing my top tips on finding cozy accommodations and secret gems, only the way a native could! Click Here to pick it up on my e-store and start saving now!

See The Best Of Jamaica - In Videos!

my_island_jamaica_channel_tv

My channel reaches over 140,000 subscribers worldwide and has leveraged over 11 million views, sharing, what I call 'The Real Jamaica'. Subscribe today and join our family of viewers.

Jamaica_subscribe_button

Read More ...

New! Experience The REAL Jamaica!
Book Your Private Tour here and experience Jamaica the way we (locals) do!

P.S. Didn't find 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.

copyscape
Back To The Top Of This Page

Like My Site? Please Click Here To Share It With Your Friends

Home   |   JOIN US   |   Site Search   |   Have Your Say   |   Archives   |   Old Archives   |   Contact   |   Disclaimer   |   TIP ME!   |   Link To Us


Do like I did! Share your passion
(about your city, hobby or experience) and make a living from it. Click Here to see how.

By Wellesley Gayle   |   Copyright © 2007-2024 My-Island-Jamaica.com   |   All rights Reserved.   |   Privacy Policy