$,or J$
usd currency, Panamanian balboa currency, Mexico currency, lvl currency, Swedish Krona currency, Greenland currency, nok conversion, Icelandic krona conversion, czk money rate, Croatian kuna money rate, exchange rate Poland, convert Hungarian Forint
Jamaican Dollar Users
The Jamaican dollar has been the official currency of Jamaica since 1969. Jamaica is an island country located in the Caribbean Sea. It was originally part of the British West Indies and declared independence from the United Kingdom on August 6, 1962. The Jamaican dollar used to be the currency of the Cayman Islands as well until the Cayman Islands introduced its own currency, the Cayman Islands dollar (Code: KYD), in 1972. The Cayman Islands became a separate British overseas territory when Jamaica gained independence in 1962. Other former dependencies of Jamaica include the Turks and Caicos Islands (now a British overseas territory), Bay Islands (now part of Honduras), and British Honduras (now the independent nation of Belize).
| Territories | Being Jamaica dependencies | Currently currency | Code | Currency being used | Notes |
|---|---|---|---|---|---|
| Cayman Islands (UK) | July 8, 1670 - July 4, 1959 | Cayman Islands dollar | KYD | since 1972 | Pegged with the U.S.dollar at 1 KYD = 1.2 USD |
| Turks and Calcos (UK) | April 4, 1873 - July 4, 1959 | the U.S.dollar | USD | Since 25 May 2013, he Bahamian dollar will be used alongside the U.S.dollar. | |
| Bay Islands | June 15, 1852 - July 14, 1860 | Honduran lempira | HNL | since 1931 | The U.S.dollar is widely accepted on Bay Islands. |
| British Honduras | 1742- 1884, now the independent nation of Belize | Belize dollar | BZD | since 1885 | 1. Belize was independent from the U.K. in 1981. 2. The Belize dollar is pegged with the U.S.dollar at 1 USD=2 BZD since 1978. |
Notes (exchange rate as per: February 20th, 2013)
a. 1 USD=19.9324 HNL (Honduran Iempira)
b. 1 USD= 2.01556 BZD (Belize dollar)
Jamaica became a Commonwealth realm once it gained independence from the United Kingdom.
A Commonwealth realm is a sovereign country within the Commonwealth of Nations which now consists of 16 Commonwealth realms of Antigua and Barbuda, Australia, Bahamas, Barbados, Belize, Canada, Grenada, Jamaica, New Zealand, Papua New Guinea, Saint Kitts and Nevis, Saint Lucia, Saint Vincent and the Grenadines, Solomon Islands, Tuvalu and the United Kingdom. Except for Papua New Guinea and the United Kingdom itself, the other fourteen realms are former British colonies. The United Kingdom is the original realm from which other realms became independent and Papua New Guinea obtained independence from Australia on 16 September 1975.The first Commonwealth realm is Canada which adopted the Act of Statute of Westminster 1931 and granted full autonomy, followed by Australia and New Zealand. Each later twelve realms (except the United Kingdom itself) were created by an instant grant of independence.
The Commonwealth of Nations, also known as the Commonwealth or British Commonwealth, is an intergovernmental organization consisting of 54 independent member states which mostly were part of the British Empire.
| Realms | Since | Location-Continent | Currency name | Code | Currency notes |
|---|---|---|---|---|---|
| Antigua and Barbuda | 1981 | North America | East Caribbean dollar | XCD | Pegged with the U.S. dollar at 1USD = 2.70 XCD |
| Australia | 1942 <2> | Oceania | Australian dollar | AUD | Pegged by Tuvaluan dollar and Kiribati dollar at par |
| Bahamas | 1973 | North America | Bahamian dollar | BSD | Pegged with the U.S. dollar at par |
| Barbados | 1966 | North America | Barbadian dollar | BBD | Pegged with the U.S. dollar at 1 USD= 2 BZD |
| Belize | 1981 | North America | Belize dollar | BZD | Pegged with the U.S. dollar at 1 USD = 2 BZD |
| Canada | 1931 <2> | North America | Canadian dollar | CAD | |
| Grenada | 1974 | North America | East Caribbean dollar | XCD | Pegged with the U.S. dollar at 1USD = 2.70 XCD |
| Jamaica | 1962 | North America | Jamaican dollar | JMD | |
| New Zealand | 1947 <2> | Oceania | New Zealand dollar | NZD | Pegged at par by Cook Islands dollar, Niue dollar and Pitcairn Islands dollar. |
| Papua New Guinea | 1975 <3> | Oceania | Papua New Guinean kina | PGK | |
| Saint Kitts and Nevis | 1983 | North America | East Caribbean dollar | XCD | Pegged with the U.S. dollar at 1USD = 2.70 XCD |
| Saint Lucia | 1979 | North America | East Caribbean dollar | XCD | Pegged with the U.S. dollar at 1USD = 2.70 XCD |
| Saint Vincent and the Grenadines | 1979 | North America | East Caribbean dollar | XCD | Pegged with the U.S. dollar at 1USD = 2.70 XCD |
| Solomon Islands | 1978 | Oceania | Solomon Islands dollar | SBD | |
| Tuvalu | 1978 | Oceania | Australian dollar | AUD | alongside New Zealand dollar from 25 May 2013 which is pegged with AUD at par. |
| United Kingdom | <1> | Europe | Pound sterling | GBP |
Jamaican dollar history
Jamaican dollar (JMD) was introduced in 1969 a few years after Jamaica obtained its independence from The United Kingdom in 1962. Since 1840 and the years between 1962 and 1969, Jamaican pound was used as the official currency by Jamaica, Turks and Caicos Islands, and Cayman Islands.
Jamaica was taken over from Spanish and became a British colony since 1655. So the earlier money in Jamaica was Spanish dollars. Since 1825, the British Empire was trying to introduce British coinage into all the British colonies. In 1839, an act was passed among British colonies declaring that only British coinage would be legal tender in Jamaica as of December 31, 1840. The Jamaican pound was circulated as a mixture of British currency and local issues and was always equal to the British pound. The Jamaican pound was subdivided into 20 shillings (symbol: s) or 240 penny (symbol: d). The idea of decimalizing the currency by introducing the dollar (worth 10 shillings, or half pound) was brought up on January 30, 1968, and eventually was introduced and went into circulation on September 8, 1969. The Jamaican dollar and the Cayman Islands dollar were both introduced worth half pound sterling. This is different from all the other dollars in the British West Indies that either began on the U.S. dollar or the Spanish dollar unit.
Jamaican dollar coins and banknotes
Jamaican dollar is subdivided into 100 cents.
Currently in circulation, coins are in denominations of 25 cents, 1, 5, 10, 20 dollars, banknotes are in denominations of 50, 100, 500, 1000 dollars. The small denominations of 1 cent and 10 cents coins, the big denomination of 5000 dollars banknotes are not frequently used.
Jamaican dollar and currencies of British West Indies
The British West Indies were part of the British Empire and were the Islands in and around the Caribbean (the region consisting of the Caribbean Sea, its islands, and the surrounding coasts). After Jamaica and Trinidad and Tobago, most colonies of the British Indies gained independence from the United Kingdom or became the British territories. For better economic development, good governance, and dependences in the East Caribbean, the Organisation of Eastern Caribbean States (OECS) was created on 18 June 1981 which consists of 9 members and using the common currency of East Caribbean dollar (XCD).
| British west Indies | West Indies Federation <2> | Independence from UK |
Present-day Currency | Currency status between 1839-1955 <5> and before independence |
|---|---|---|---|---|
| Antigua and Barbuda <1> | Yes | since 1981 | East Caribbean dollar (XCD) Pegged with U.S dollar at 1 USD=2.70 XCD |
Antigua and Barbuda were members of East Caribbean group and used sterling coinage with a mixture of sterling and Spanish dollar accounts both at a fixed exchange rate of $1 =4s 2d until 1949. The group formed a currency of British West Indies dollar existed from 1949 to 1965(when it was changed name to East Caribbean dollar, XCD). |
| Dominica <1> | Yes | since 1978 | East Caribbean dollar (XCD) Pegged with U.S dollar at 1 USD=2.70 XCD |
Dominica was a member of east Caribbean group and used sterling coinage with a mixture of sterling and Spanish dollar accounts both at a fixed exchange rate of $1 =4s 2d until 1949. The group formed a currency of British West Indies dollar existed from 1949 to 1965(when it was changed name to East Caribbean dollar, XCD). |
| Grenada <1> | Yes | since 1966 | East Caribbean dollar (XCD) Pegged with U.S dollar at 1 USD=2.70 XCD |
Grenada was a member of east Caribbean group and used sterling coinage with a mixture of sterling and Spanish dollar accounts both at a fixed exchange rate of $1 =4s 2d until 1949. TThe group formed a currency of British West Indies dollar existed from 1949 to 1965(when it was changed name to East Caribbean dollar, XCD). |
| Saint Lucia <1> | Yes | since 1979 | East Caribbean dollar (XCD) Pegged with U.S dollar at 1 USD=2.70 XCD |
Saint Lucia was a member of east Caribbean group and used sterling coinage with a mixture of sterling and Spanish dollar accounts both at a fixed exchange rate of $1 =4s 2d until 1949. The group formed a currency of British West Indies dollar existed from 1949 to 1965(when it was changed name to East Caribbean dollar, XCD). |
| Saint Kitts and Nevis <1> | Yes | since 1983 | East Caribbean dollar (XCD) Pegged with U.S dollar at 1 USD=2.70 XCD |
Saint kitts and Nevis were members of East Caribbean group and used sterling coinage with a mixture of sterling and Spanish dollar accounts both at a fixed exchange rate of $1 =4s 2d until 1949. The group formed a currency of British West Indies dollar existed from 1949 to 1965(when it was changed name to East Caribbean dollar, XCD). |
| Anguilla (UK) <1> | Yes <3> | British territory | East Caribbean dollar (XCD) Pegged with U.S dollar at 1 USD=2.70 XCD |
Anguilla was a member of East Caribbean group and used sterling coinage with a mixture of sterling and Spanish dollar accounts both at a fixed exchange rate of $1 =4s 2d until 1949. The group formed a currency of British West Indies dollar existed from 1949 to 1965(when it was changed name to East Caribbean dollar, XCD). |
| Saint Vincent and the Grenadines <1> | Yes | since 1979 | East Caribbean dollar (XCD) Pegged with U.S dollar at 1 USD=2.70 XCD |
Saint Vincent and the Grenadines were members of East Caribbean group and used sterling coinage with a mixture of sterling and Spanish dollar accounts both at a fixed exchange rate of $1 =4s 2d until 1949. The group formed a currency existed from 1949 to 1965(was changed name to East Caribbean dollar, XCD). |
| Montserrat (UK) <1> | Yes | British territory | East Caribbean dollar (XCD) Pegged with U.S dollar at 1 USD=2.70 XCD |
Montserrat was a member of East Caribbean group and used sterling coinage with a mixture of sterling and Spanish dollar accounts both at a fixed exchange rate of $1 =4s 2d until 1949. The group formed a currency of British West Indies dollar existed from 1949 to 1965(when it was changed name to East Caribbean dollar, XCD). |
| Barbados | Yes | since 1966 | Barbados dollar (BBD) Pegged with U.S.dollar at 1 USD=2 BBD |
Barbados was a member of East Caribbean group and used sterling coinage with a mixture of sterling and Spanish dollar accounts both at a fixed exchange rate of $1 =4s 2d until 1949. The group formed a currency of British West Indies dollar existed from 1949 to 1965(when it was changed name to East Caribbean dollar, XCD). Barbados introduced the Barbados dollar in 1973 and replaced XCD at par. |
| Trinidad and Tobago | Yes | since 1962 | Trinidad and Tobago dollar (TTD) | Trinidad and Tobago was a member of East Caribbean group, and used sterling coinage with a mixture of sterling and Spanish dollar accounts both, at a fixed exchange rate of $1= 4s 2d. The group formed a currency of British West Indies dollar existed from 1949 to 1965(when it was changed name to East Caribbean dollar, XCD). Trinidad and Tobago left and introduced its own currency in 1964. |
| British Virgin Islands (UK) <1> | / | British territory | United States dollar (USD) | British Virgin Islands was a member of East Caribbean group and used sterling as official currency, however the Danish money and later U.S dollars were widely used alongside. The British west Indies dollar was introduced into British Virgin Islands in 1951. Later since 1961 the U.S.dollar was adopted as official currency. |
| Bahamas | / | since 1973 | Bahamian dollar (BSD). Pegged with USD at par. |
Bahamas used pound from 1840 to 1966 and allowed the U.S.dollar unofficially being circulated alongside sterling. The Bahamian dollar was introduced in 1966. Both BHD and USD are accepted interchangeably in Bahamas. |
| British Honduras <4> | / | since 1981 <4> | Belize dollar (BZD) | British Honduras used pound sterling from 1840 to 1885 when British Honduras dollar (based on U.S.dollar) was introduced. Currency name was changed following British Honduras was officially changed name to Belize in 1973. |
| British Guiana) <4> | / | since 1966 | Guyanese dollar (GYD) | British Guiana was the only one using dollar accounts throughout the period 1839 to 1950. As a member of the East Caribbean group (withdrew in 1966), British Guiana used British West Indies dollar till 1965 then East Caribbean dollar till 1966, and eventually introduced Guyanese dollar. |
| Bermuda (UK) | / | British territory | Bermuda dollar (BMD), alongside the U.S.dollar (USD) | Bermuda used pound sterling as official currency from 1842 to 1970 and didn't mix using the U.S.dollar like the Bahamas which allowed the U.S.dollar circulated unofficially alongside sterling. Bermuda dollar was introduced in 1970 and changed reserves to the U.S.dollar from sterling. |
| Jamaica | Yes | since 1962 | Jamaican dollar (JMD) | Jamaica used sterling from 1840 to 1969 and then Jamaican dollar was introduced at a descendent sterling unit of "half-pound". |
| Cayman Islands (UK) | Yes | British territory | Cayman Islands dollar (KYD) Pegged with the U.S.dollar at 1 KYD=1.2 USD |
Cayman Islands was dependency of Jamaica until 1962 and followed a similar course. Its own currency of Cayman Islands dollar was introduced in 1972, at a descendent sterling unit of "half-pound". |
| Turks and Caicos Islands (UK) | Yes | British territory | United States dollar(USD) | Turks and Caicos Islands was dependency of Jamaica until 1959 and followed a smilar course- used sterling from 1840 to 1969, but changed to use the U.S.dollar since 1969. |
Notes:
<1>. Member state of OECS, the Organisation of Eastern Caribbean States, was created in 1981.
<2>. The West Indies Federation was a short-lived political union that existed from 3 January 1958 to 31 May 1962 comprising 12 members.
<3>. Anguilla seceded from Saint Kitts and Nevis in 1981 (being under controlled since 1824).
<4>. British Honduras was officially renamed Belize in 1973. British Honduras was renamed as Guyana right after obtained independence in 1966.
<5>. From around 1840 to 1955, most of the British West Indies were using sterling coinage, meanwhile there was a mixed usage of sterling and dollar accounts both. Eventually all territories moved towards the dollar accounts with decimal fractional coinage.