Interested in Jamaica?
We'll send you updates with the latest deals, reviews and articles for Jamaica each week.
Topics include Things to Do, Dining Scene & more!
Many people ask what the exchange rate is between the currency in their country and the Jamaican dollar. The exchange rate changes every day. To find the current exchange rate for your currency simply go to Google and type 'exchange rate' into the search box. A number of web sites listing exchange rates for many currencies will be listed by Google. Select one of the web sites listed and follow the directions for that web site to show the exchange rate.
When you are in Jamaica you can look in any Jamaican newspaper each day to find the current exchange rate between the Jamaican dollar and most major currencies.
The exchange rates listed on-line are the "official" rates that are often quoted in media such as The Wall Street Journal and the Jamaican newspapers. These rates, often called the 'interbank' rate, typically reflect the market rates for large transactions, often for US $1 million or more, when banks trade between themselves or with their very large clients.
For the smaller amounts exchanged by tourists in a retail setting, banks, credit cards, and exchange agencies normally charge commissions to convert currencies. These retail exchange rates add commissions to the 'interbank' rates. Always ask about any commissions which can be or are being charged before doing any currency conversion. For example:
* ATMs typically add 2% (and then, in most cases, add service charges).
* Credit cards typically add 3% (for the conversion of major currencies; more in some cases for other currencies).
* Foreign exchange kiosks and banks often add 4% to 6% when you convert banknotes, aka paper money, aka bill, aka note, aka hard cash, (for the conversion of major currencies; more in some cases for other currencies).
Also remember that the exchange rate will probably change slightly by the time you reach Jamaica.
A good idea is to not use the airport cambio for your money exchange. They claim their services are for convenience only, therefore you pay for that. Instead go to a local bank. You will get better rates.