Jamaica Two Thousand Dollar Bill

Jamaica Two Thousand Dollar Bill | source: jamaica gleaner

By Venesha Johnson | Associate Writer

We now have a two thousand dollar banknote and it has created quite a buzz! In March 2022, the Bank of Jamaica (BOJ) announced that not only will we be receiving new and upgraded banknotes to replace those currently in circulation, but they will also be adding an entirely new banknote, the two thousand dollar banknote. 

These notes officially began to circulate on  June 15, 2023 and have generated a mixture of opinions. While some believe we did not need an additional banknote, others were quite excited about it.

As a matter of fact, a lady travelled for hours from the parish of Trelawny to attend the launch at the BOJ in Kingston, so she could be among the first to get their hand on the new bills. 

The introduction of the $2,000 note was done based on a recommendation from the Bank of Jamaica (BOJ).  The introduction of the $2,000 note was born out of a need to reduce the number of notes to settle transactions between the $1,000 and $5,000 note.

Natalie Haynes, the deputy governor for banking, currency operations and financial markets infrastructure at the Bank of Jamaica (BOJ) told the Jamaica Observer, “The introduction of the $2,000 was informed by the science, we never just get up and say we are going to issue a $2,000 note.

The $5,000, which was introduced in 2009, has seen poor take-up by the Jamaican public. That places a lot of pressure on the $1,000 bill…The cost to print a banknote has nothing to do with the value of the Jamaican dollar, it is what goes into it.

They are of the same size, the same shape, their security features are basically the same, and they are printed on the same paper.

So when we have to produce 20 of the $1,000 rather than four of the $5,000, the cost of printing notes goes up.

So, if the $2,000 comes in, hopefully, more people will be willing to use it as opposed to the $1,000 and then we will print fewer $1,000 notes and save and take some of the pressure off the $1,000”.

The features of the Two Thousand Dollar Note

As with all of our other banknotes, the two thousand dollar notes feature portraits of prominent individuals in Jamaica’s history.

Before these new and upgraded banknotes, each bill would only feature one person. But now, except for the new $100 bill all new and upgraded bills now feature two people.

The $2000 feature portraits of former prime ministers Edward Seaga, former leader of the Jamaica Labour Party who led Jamaica between November 1980 and February 1989 and Michael Manley who led Jamaica between March 1972 and November 1980.

Manley again led Jamaica between February 1989 and March 1992 and also served as president of the People's National Party.

A vignette photograph of students from Central Branch Primary School in 1968 can be found on the back of the new note. Before the $2 note was retired, these children were on it.

Additionally, when you hold it to the light, you will see a clear window with detailed portraits from both sides of the note. If you tilt it to either side, the images on the holographic foil will change.

For additional security, the notes can be checked under a UV light, where you will see that some areas of the note will glow in 2 colours and the denomination will appear. This should help with dealing with the spread of counterfeit banknotes.

These new notes are not made of paper as the previous notes. They are polymer notes which not only feel smoother but are also more durable and are expected to double in longevity compared to paper notes.

One feature I am super excited about is the braille-like feature for those who are visually impaired. If you run your fingers over the top right-hand corner of the banknote you will these raised dots which will indicate to those with visual impairments what note they are using.

The Jamaica $2,000 bill and all updated bills are now available in banks and ATMs across the island.

Remember integrating these new notes into society may take some time, read the notes at the ATMs carefully, as most will indicate if they have been upgraded to accept deposits or dispense the new notes.

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References & Sources For Jamaica Two Thousand Dollar Bill

1. Banknote buzz. (2023, June 16). Banknote Buzz | Lead Stories | Jamaica Gleaner. https://jamaica-gleaner.com/article/lead-stories/20230616/banknote-buzz
2. $2,000 note for Independence. (2023, June 17). Jamaica Observer. https://www.jamaicaobserver.com/business/2000-note-for-independence/
3. December for new currency notes. (2023, June 17). Jamaica Observer. https://www.jamaicaobserver.com/business/december-for-new-currency-notes/

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