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Jamaican Dollar
About The Jamaican Dollar: The Currency of Jamaica
Quick Facts About the Jamaican Dollar Notes
| Country of Origin | Jamaica |
| Symbol | JM$ |
| Currency Code | JMD |
| Nick Names | |
| Minor units | Cent |
| Denominations (Banknotes) | J$ 50, J$ 100, J$ 500 and J$ 1000 |
| Motto | |
| Identification Feature | |
| Issuing Bank | Bank of Jamaica |
| In Circulation Since | 1969 |
The Jamaican Dollar is the currency of Jamaica. The Jamaican Dollar symbol is J$ in order to distinguish the Jamaican Dollar symbol from US Dollar and other Dollar denominated currencies. The currency is divided into 100 cents although the cent denominations are not being used after 2018. The name dollar was inspired by the decreased value of the new unit corresponding to the value of USD than it did to the Pound sterling. The Jamaican Dollar currency was the first dollar to be based on half-pound sterling instead of the US or Spanish Dollars.
Make sure you check the live Jamaican Dollar rate in order to buy Jamaican Dollar or Sell Jamaican Dollar during your visit to Jamaica. The Jamaican Dollar price may fluctuate and differ from currency to currency so you should be aware of the exact price and exchange rates. For example, the Jamaican dollar to rupee price is different from the Jamaican dollar to other currencies. 1 Jamaican Dollar to Indian rupee equals ⚠️ Indian Rupee and 1 Jamaican Dollar to USD equals 0.0065 United State Dollars.
History of the Jamaican Dollar
The first money in Jamaica was the maravedis Spanish copper coins. The pound sterling was the first currency of Jamaica. The Jamaican Dollar currency is different from other dollars in the British West Indies. Its value was half a pound sterling while other dollars took as the US or Spanish dollar unit. In 1994, the Council of Ministers permitted a new monetary structure as the $5 banknotes would be swapped by a coin, $ 1 by 25 cent dollars, 10 cents would get a new look and 5 cents would be abandoned. In 1999, the other coin and banknote of 10 were included. In march 2000, J$ 1000 bill was brought into circulation and in July J$ 20 note was replaced by the coin. It was the first bimetallic coin produced by Jamaica that bore the portrait of national hero Marcus Garvey. The Jamaican Dollar rate fluctuates from time to time, for example, if the Jamaican Dollar rate today is 0.0065 USD over time it may go up or down.
Countries Accepting the Jamaican Dollar
The Jamaican dollar is the currency of Jamaica but it was also used by the former dependencies of Jamaica, the Cayman Islands until 1972 and the Turks and Caicos Islands until 1973. In 1972, the Cayman Islands stopped using JMD and adopted its own currency, the Cayman Islands Dollar. Similarly, in 1973, Turks and Caicos Islands replaced the JMD with the United State Dollar. In order to convert the Jamaican Dollar to INR or to know the Jamaican Dollar exchange rate, you can use a currency converter.
Amount in the Jamaican Dollar You Should Carry for Your Trip
If you are planning a trip to Jamaica you may need to spend around 15,989 Jamaican Dollars per day. It is the average per-day expense in Jamaica. You may need to spend an average of J$ 3,038 on meals per day and J$ 1673 on local transportation. The average price for Hotels in Jamaica is around J$ 20, 402. So, a one-week trip for two people may accost you around J$ 223, 851. Many tourist places in Jamaica also accept USD but businesses situated away from the major tourist hubs mostly take Jamaican Dollars. Merchants established in Jamaica may establish their own Jamaican dollar currency exchange so people using foreign currencies may encounter unfavourable Jamaican Dollar rates during conversion depending on the policy of a particular merchant. You can also use Jamaican dollar forex cards for certain transactions in Jamaica.
Best Ways to Identify Counterfeit Jamaican Dollar Notes
There are a few ways through which you can spot the counterfeit Jamaican Dollar notes:
Checking the security thread and tilting the note to see if the colour changes from red to green are the best techniques to spot a counterfeit Jamaican dollar. With the banknote held up to the light, the strip's text, which reads BOJ, and the note's denomination, such as BOJ 500, merge into a single line.
For a J$ 500 note, feel the note to check the familiar feel of banknote paper and to feel the thicker ink in some places. The iridescent coating consists of a vertical colour that changes when observed at a certain angle. The image features a band of clubs. Each note has a unique symbol on the front side of the note to aid partially sighted. Hold the note in light and see the image of Nanny of the Maroons. If you place the banknote on a dark surface you can see the shadow of 500 and a crocodile and a butterfly.
For a J$ 1000 note, feel the note to find the thicker ink at certain places. The iridescent coating includes a vertical band of colour that changes when you see at a certain angle. On the number 1000, you can see a band of butterflies. Look and feel the unique symbol on the front side to aid the partially sighted. Hold the note in light and see the image of Michale Manley on the J$ 1000.
For J$ 5000, on the front side of the note, observe the finely engraved lines on the portrait. Look at the black vertical serial number that increases in size, it should match the red horizontal number on the right side. When you see in the light the thread with BOJ 5000 is present vertically on both sides. On the back side of the note, check the honeycomb pattern that is smooth and has one colour. Look at the highway 2000 image.
Process of Exchanging the Jamaican Dollar
The process of converting the Jamaican Dollar to Indian Rupee is immensely easy. Please note that the 1 Jamaican Dollar to INR value is subject to change so keep an eye on the Jamaican Dollar rate alert. Below, we have mentioned some of the popular ways to convert Jamaican Dollars to Rupees.
Internationally-Accepted Card
A multi-currency forex card is counted among the most economical and safest way of carrying the Jamaican Dollar.
The BookMyForex Multi-Currency card can be loaded in 14 currencies and features zero forex mark-up.
Online Forex Marketplace
The simplest and most cost-efficient way of converting your Jamaican Dollar is using an online forex marketplace such as BookMyForex, a platform by MakeMyTrip, offering the best conversion rates and currency exchange service. The platform offers a 5-minute fully-digital online process for currency exchange.
Visiting Your Bank
The most traditional way of converting the Jamaican Dollar to Rupee is by visiting a bank and standing in long queues. It is not only time-consuming but you also end up paying a high cost for making the Jamaican Dollar convert to Indian Rupees.
Local Money Changers
You can look for an Authorised Dealer Category II or someone who has a money changers licence. Money exchangers offer competitive Jamaican Dollar exchange rates, and you’d not need a bank account in this case. However, the process of rate haggling can be quite frustrating for those who are looking for an easy way to convert Jamaican Dollar to INR.
On the other hand,BookMyForex, the online marketplace, offers internationally-accepted forex card and currency notes at the best rates via a convenient online process.
Airport
If you would like to convert the Jamaican Dollar in India, one of the costliest ways to do so would be to get the Jamaican Dollar exchanged at an airport due to the exorbitantly high JMD exchange rates. Currency exchange at the airport will prove to be 5%-15% costlier than BookMyForex.
Exchange the Jamaican Dollar with BookMyForex
BookMyForex, the online forex marketplace by MakeMyTrip, makes it a hassle-free affair for you to convert the JMD to Indian Rupees as well as Indian Rupee to Jamaican Dollar. Please note that the 1 Jamaican Dollar to INR value is subject to change so keep an eye on the Jamaican Dollar rate alert. You should choose MakeMyTrip for currency exchange for the following reasons:
Wide Range of Products
Forex (Currency Notes) - Available in 100+ cities across India, BookMyForex allows you to get your currency notes delivered on the same day or the next day after 100% digital booking.
BookMyForex Multi-Currency - You can load this card in 14 currencies with 0% Forex Mark-up. Once you have booked this card, you can receive it the same day (if booking is made before 1 PM) or the next.
International Travel Insurance - TripMoney also offers international travel insurance at cheapest rates in the market. Also, you can opt for this product if you’d like TripMoney to handle your mandatory travel insurance requirements along with a VISA application.
Travel Loan - With TripMoney, you can avail a travel loan of up to INR 1,00,000 (lifetime limit) for all your travel and holiday needs.
Best Exchange Rates
BookMyForex makes it easy for you to buy Jamaican Dollar or sell Jamaican Dollar at live and best exchange rates.
Quick Money Transfer
You can also enjoy quick international money transfers on BookMyForex. The 5-minute digital process offers the best forex rates, and you can receive funds abroad within 12 to 48 hours.
Home Delivery
BookMyForex delivers the Jamaican Dollars at your doorstep. So, you can simply order and receive your currency from the comfort of your home.
Best Rates to Exchange the Jamaican Dollar
You’d need to keep an eye on the current currency rates, if you’d like to know the exact value you’d get on converting 1 Jamaican Dollar in Rupees. The exchange rates keep on fluctuating. BookMyForex, an online forex marketplace by MakeMyTrip, keeps you updated with the live currency exchange rates. You can keep up with the changing value of 1 Jamaican Dollar in India in real-time on the platform and get the best deal. Currently, 1 JMD is equivalent to ⚠️ INR .
Best Ways to Carry the Jamaican Dollar
BookMyForex allows you to convert INR to the Jamaican Dollar at the best exchange rates so that you can carry the Jamaican Dollars without any hassle. Some of the best ways to carry the Jamaican Dollar are mentioned below:
Currency Notes
You can buy the US Dollar notes at live and best exchange rates on BookMyForex so that you can be ready for your trip with sufficient cash in your hand.
BookMyForex Multi-Currency Card - 0% Forex Mark-Up
The Multi-Currency Forex Travel Card available on MakeMyTrip with BookMyForex as the co-branding partner comes with 0% forex mark-up over interbank rates.
How to Buy the Jamaican Dollar at Best Rates - Currency Notes and Cards
Whether you want to buy forex cards and currency notes or sell the Jamaican Dollar, MakeMyTrip makes the entire process quite easy. It doesn’t matter whether you want to convert the Jamaican Dollar to USD, INR to Jamaican Dollar or Jamaican Dollar to Euro, you only need to follow the below-written steps:
- STEP 01
Select your city from the drop-down list.
- STEP 02
Choose the currency you have and the currency you want.
- STEP 03
Opt for a forex card or currency notes from the list.
- STEP 04
Mention the forex amount. The live currency exchange rate will show up next to it.
- STEP 05
The converted currency amount according to the exchange rate will show up automatically.
- STEP 06
Then proceed with booking your order.
Documents Required to Buy or Sell the Jamaican Dollar
Here are some important documents mandated by the RBI that you must submit in order to buy or sell the Jamaican Dollar in India.
Copies of your valid Indian passport
PAN Card
Confirmed air ticket indicating your plan to travel within 60 days
Valid visa (it may not be required for every country)
Different Purposes for Exchanging the Jamaican Dollar
Private Travel: You can avail of up to JMD 10,000 for a private trip to the Jamaica.
Studying Abroad: You can purchase foreign exchange of up to JMD 30,000 or up to the estimate shared by your educational institute.
Employment Purpose: In case you have a letter of employment, you can buy foreign exchange of up to JMD 5,000.
Emigration: If you have an emigration visa, you can buy foreign exchange for up to JMD 5,000.
Gift and Donation: You can gift or donate up to JMD 5,000 annually on the basis of self-certification
Medical Treatment: On the basis of self-certification, you can buy foreign exchange of up to JMD 50,000 for medical treatments outside of India. Once the limit is surpassed, you have to provide the estimated expense that would be incurred at the hospital.
Buy and Sell the Jamaican Dollar Online at Best Exchange Rates
With BookMyForex, the online forex marketplace by MakeMyTrip, you can easily convert your currency. Enjoy unbeatable currency exchange rates and opt for BookMyForex Multi-Currency Cards as well as foreign currency notes. with no forex mark-up. MakeMyTrip also present the real-time value of one Jamaican Dollar in Indian Rupees so that you can stay updated with the ever-changing Jamaican Dollar value when converting your money to other currencies.
Home Delivery of the Jamaican Dollar
In addition to a smooth online process, BookMyForex also delivers the Jamaican Dollars right at your doorstep. In fact, you can enjoy same-day door delivery. So, you do not have to waste any time visiting a local money exchanger and picking up your money.
Other currencies to INR Conversion
- USD to INR
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- PHP to INR
- MUR to INR
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Frequently Asked Questions
How do I get cashback after placing my forex order?
Find out more about the cashback offer on your Jamaican Dollar (JMD) purchase by clicking here.
What is the best way to convert JMD to INR?
You can convert JMD to INR using different methods such as visiting a nearby bank or an airport counter. However, both of these methods will prove to be time-consuming as well as costly. There are local money exchangers available but you might need to indulge in negotiations with them. Therefore, MakeMyTrip, powered by BookMyForex, is the perfect way to convert your currency. This online Forex solution offers currency exchange at live rates and delivers currency notes or Forex cards to your doorstep.
What will happen to the leftover Jamaican Dollar currency when I return from my trip?
You can easily exchange any leftover currency notes or the money left in your Forex card with MakeMyTrip, powered by BookMyForex, once you have returned from your trip.
Can I invest in the Jamaican Dollar?
Yes, you can invest in the Jamaican Dollar via mutual funds, ETFs, or ETNs. However, you should keep an eye on market fluctuation and geopolitical concerns.
Will I receive authentic Jamaican Dollar notes?
Yes. MakeMyTrip offers genuine notes from RBI-licensed companies only.
Is it legally allowed to hold Jamaican Dollar in India?
While it is acceptable to hold the Jamaican Dollar up to the amount authorised by RBI, you cannot use this currency for any kind of transaction in India.
What if I run out of the Jamaican Dollar currency while travelling?
If you are carrying a MakeMyTrip multi-currency Forex card while travelling, then you can easily load it up and receive the money abroad within 48 hours.