Jamaican Dollar Currency | Jamaica Dollar Notes

Jamaican Dollar

Jamaican dollar Currency:

The dollar is the official currency of Jamaica and the official code is JMD. In order to distinguish Jamaican Dollar from other currencies with the same name dollar, it is denoted by the symbol J$.  The Jamaica Dollar is further subdivided into one hundred equal parts called cents.  Until 1972, it was used not only by Jamaica, but also by the Cayman Islands, a former dependency of Jamaica. In that year Cayman Islands adopted its own currency the Cayman Islands dollar and stopped using the Jamaican Dollar.

The new Jamaican Dollar differs from all other dollars in the British West Indies because all other currencies were based on either the US Dollar or the Spanish Dollar but Jamaican Dollar was based on the half-pound sterling. The name dollar was chosen because the reduced value of the new unit corresponded much nearly to the value of the US dollar in comparison with its proximity to pound sterling.

Bank of Jamaica is the central bank of Jamaica which issues all the coins and bank notes. Frequently used coins are 25c, $1, $5, $10, $20 and the coins of 1c, 10c are rarely used. $50, $100, $500, $1000 are frequently used bank notes and the notes with denomination of $5000 notes is seldom seen in circulation.

Jamaican Dollar

Jamaican Dollar (Jamaica)

Code: JMD

Symbol: $

Subunit:       

1/100 = cent

Banknotes:  

$50, $100, $500, $1000, $5000

Coins:

25c, $1, $5, $10, $20, 1c, 10c

Central bank:         

Bank of Jamaica

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