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jamaican conversion currency

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Florida
posts: 79
reviews: 10
jamaican conversion currency

I just noticed that the conversion rate is about 104 jamaican to $1.00 us. When we were there in May I believe it was about 93 to 1. I also get confused with exchange currencies. Does that mean we get more bang for the buck or less. Any help in explaining would be appreciated. We're going to Negril next week. Thanks!

manchester, New...
posts: 1,301
reviews: 2
1. Re: jamaican conversion currency

Yes, you get more for your dollar with the $1:$104. For every US dollar you exchange, you get 104 JA dollars.

United States
posts: 7,590
reviews: 87
2. Re: jamaican conversion currency

"the conversion rate is about 104 jamaican to $1.00 us"

For every $US1 bill you exchange at the rate of 104 you will receive $J104 in return. Keep in mind, however, the 104 value listed on websites and in the newspapers is the 'official' exchange rate between banks or governments and is available only if you exchange $US1 million or more (mainly more) to exchange at one time. As a tourist you will receive less than the 'official' rate and the rate will differ depending on where you do the exchange. Recently with the 'official' rate at 104 for $US1: 1) the exchange booth at the airport would give me $J85, 2) my hotel would give me $J94, and 3) a cambio I stopped at would give me $J102. As you can guess, I exchanged my money at the cambio (not at the airport and not at my hotel).

Vancouver, B.C.
posts: 98
3. Re: jamaican conversion currency

Which cambio in negril were you able to get $J 102..........your answer would be very helpful as i will be there soon and am staying a month. Looking for the best cambio rates! Also, the $J85 rate, was that at the Mobay airport....man, that's a very poor rate!! Thanx for your advice!!

United States
posts: 7,590
reviews: 87
4. Re: jamaican conversion currency

Rates at all cambios change every day just as they do at banks, the airport, hotels, etc. For the very best rates you will need to check multiple places on the day you want to change money. Those from Canada should also bring their debit card from ScotiaBank and consider using a ScotiaBank ATM while in Jamaica.

Atlanta, Georgia
Destination Expert
for Negril
posts: 2,958
reviews: 96
5. Re: jamaican conversion currency

the airport is usually the worst place to exchange, we go to the cambio in Negril.

Central Ohio
Destination Expert
for Negril, Port Antonio
posts: 12,035
reviews: 53
6. Re: jamaican conversion currency

In my experience, order of worst to best exchange rates with 1 being worst:

1. Using US$ at a business that prices in JA$ - can be ANYTHING, usually lower than a bank/cambio.

2. Airport exchange counter - always a good 10-15% worse than bank but you can't beat the convenience, sometimes I change a little just to have J$ in my pocket.

3. Any cambio in a grocery store, drug store, standalone, etc. Rates are pretty darn good.

4. ATM withdrawal from a bank in JA$ - the same as or better by a touch than cambio rates.

5. Using a credit card that has zero fees/charges for overseas use (like mine). This is always my best exchange rate.

3-4-5 aren't terribly far apart.

Trempealeau
posts: 144
reviews: 2
7. Re: jamaican conversion currency

ohliz-When using your credit card, does this mean you get the same exchange rate at every place you use it? Sorry if it's a stupid question.

Central Ohio
Destination Expert
for Negril, Port Antonio
posts: 12,035
reviews: 53
8. Re: jamaican conversion currency

Yes. The business puts it through in JA$ and I get the bank exchange rate from my credit card, it appears on my statement in both J and US$ with the rate applied.

Central Ohio
Destination Expert
for Negril, Port Antonio
posts: 12,035
reviews: 53
9. Re: jamaican conversion currency

Elaborating (my card is a Capital One card, so no fees...some cards charge a large fee, like 3%). Using an ATM to get cash gets a similarly good rate but usually has a fee for ATM use from your home bank and/or the foreign bank you are using.

"You will almost always get the best interbank exchange rate when buying foreign currency with either ATM cards or credit cards, which will usually be 2 to 7 percent better than the rates you'll get when exchanging cash or traveler's checks. Try to use credit cards whenever possible for large purchases such as hotel bills, tickets and car rentals. However, keep in mind that most credit card companies add fees for transactions made in foreign currencies. (Capital One is one of very few U.S. credit card companies that do not.) "

independenttraveler.com/travel-tips/money-an…

Los Angeles...
posts: 1,398
reviews: 58
10. Re: jamaican conversion currency

If you have a 'world' card you bypass a lot of the extra fees as well. Just check with your credit card company first. I use airline cards thru Chase and I am not hit with fees when making a foreign charge. At least not anywhere I have been.

And if you are a B of A member you are not hit with ATM fees when using Scotia's bank. This is my desired method of acquiring some local cash.