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LOCAL CURRENCY IN JAMAICA

Want to know how much is your money worth in Jamaica? The local currency in Jamaica is called Dollar.

The Jamaican Dollar is issued and managed by the Bank of Jamaica. To find out the current currency exchange rates for Dollar to other major currencies of the world, click on foreign currency rates.

Jamaican Currency Information
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The currency used in Jamaica is called as the Dollar. This currency is denoted with the currency sign $ and the ISO 4217 Code for the Jamaican Dollar is JMD. The Dollar, is the official currency of the Jamaica . It is divided into 100 smaller units called cent.

The constitution of Jamaica provides that the Jamaica government shall have the power to print the Jamaican Dollar and cent coins to be used as a legal tender in Jamaica. The Jamaican Dollar bank notes and Cent coins are both designated as "legal tender" in payment of debts.

The Jamaican Dollar bill uses the decimal system, consisting of 100 equal units.

The symbol $, usually written before the numerical amount, is used for the Jamaican Dollar.

Currently printed bank notes denominations are $50, $100, $500, $1000 $5,000 and the coins are minted in the denominations of 10c ,25c, $1, $5, $10, $20 1c.

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The Effect of Balance of Trade and Investment on Jamaican Dollar
Financial analysts regularly cite the balance of trade and investment in Jamaica as the most important influence on the value of the Dollar. The difference between what the Jamaica exports and imports in terms of goods and services to and from other countries can be obtained from a balance of trade statement.

The balance of investment on the other hand represents the difference in exports and imports of capital. If exports from Dollar exceed imports from other countries, in either the balance of trade or balance of investments, it is called a surplus. The term deficit is used when the imports into Dollar exceed exports to other countries. The points below go into detail to explain on how the balance of trade and balance of investments affect the Jamaican Dollar.
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