Jamaica is the third largest island in the Caribbean group. Its economy depends upon tourism, mining and agricultural products. Jamaica exports bauxite, coffee, cocoa, sugar and pimento. Its coinage is the Jamaican dollar. It trades under the symbol JMD at 100 cents equal 1 dollar.
History
Like most of the Caribbean Islands, Jamaica has seen the arrival of different groups of settlers laying claim to the land. Columbus “discovered” Jamaica in 1493-1494. The Spanish claimed in 1509 and the British from 1655. During these periods, the colony did not have its own coinage. All currency came from its rulers. Prior to the 19th century, the dominant currency consisted of Spanish gold and silver pieces of eight (silver 8 reales), Portuguese gold coins (the Joes from Brazil) and the French colonial Black Dogs.
In the mid 18th century, Jamaica also had local coins. Theses were counterstamps of existing Spanish gold and silver money. In fact, the Jamaicans only accepted gold and silver. They refused to have money in any other metal. When the British tried to introduce copper coins, the Jamaicans refused to use them. As a result, all coins came in the two precious metals.
The British gained control of Jamaica after the Treaty of Madrid in 1670. It became a Crown Colony in 1866. The British Imperial currency of the period used a British system. There were pence and farthings, pennies and halfpennies. Money designed specifically for Jamaica did not come until 1869.
Between 1958 and 1962, Jamaica was a member of the
Federation of the West Indies. In 1962, it became a dependent country.
At this point, it still used the old system. In 1969, however, the
country decided to change its currency into the decimal system. Cents
and dollars replaced pennies and pounds.
During the 1970s, 1980s
and 1990s, money came and money went. Coins replaced notes and notes
and coins came into being. The penny/cent changed shape in 1975,
becoming a 12-sided coin. In 1999, a 10-dollar coin replaced the note
of the same value. The same thing had happened to the 1, 2 and 5-dollar
bills. Today, coins come in 1, 10 and 25-cents as well as in 1, 5, 10
and 20-dollars. It is rare to use cents. Banknotes include 50, 100, 500
and 1000-dollars.
Obtaining Jamaican Dollars
You can exchange your own currency for Jamaican dollars at banks and exchange offices. You can also do so at your hotel and a major airport. Be wary of street exchange offices. It is illegal. It may also be a scam. You can use ATMs or “Cambios.” There are a couple of possible problems. While the exchange rate may be acceptable, remember you will only receive Jamaican dollars. The other risk is a human one. Muggings and robberies of people visiting ATMs at night is frequent. Many banks do have secure indoor units you can use. Even then, if you are alone, try to use them during the day.
Protecting Your Currency
Crime is on the increase in Jamaica. There are areas of high crime you need to avoid. This includes the slum regions e.g. Spanish Town Road. Do not go there alone. Do not even think of wandering there or on the streets alone at night. This includes visiting ATMs. Most muggings around ATMs occur in the evening.
You also need to take the usual precautions. Do not flash your cash or show signs of affluence. Do not leave your personal belongings alone o the beaches. Petty crimes such as pickpocketing and purse snatching are more prevalent in the cities.
Using Your Jamaican Dollars
The Jamaican dollar is necessary for the purchase of many items outside the tourist resorts. If you want to buy something from a roadside vendor, you will need cash. You may also find yourself at a market where Jamaican currency is faster than any other form of money. It will allow you to buy such trademark gifts as Jamaican rum, batik fabrics, fine wood carvings, baskets and Tia Maria.
Travel Tips and Warnings
- Jamaica is experiencing incidence of high gang violence. These usually apply to specific areas such as St. Andrew Corporate Area, Waterhouse, Kingston, Drewsland, Cassave Piece, Rockfort and Downtown/Central Kingston.
- Take precautions if driving. Do not drive along the Mountain View Road. This is a scene of gang activity and you could get caught in the cross fire.
- Make sure you know if there is a curfew in place.
- Only use cabs approved by the Jamaica Union of Travelers Association (JUTA).
- Do enjoy the country’s “Blue moons” and the Blue Moon Lagoon.
- Take a stroll along the soft, white sand of Puerto Seco Beach or Dunn’s River Falls.
- Bird watch at the Rockland’s Bird Sanctuary and Feeding Station, or swim with the dolphins.
- Visit St. Peter’s Church at Mount Royal.
- Wander over to the former home of the Voudoun woman, Annie Palmer – Rose Hall or the authentic sugar plantation house of Greenwood Great House.
- If you want to know about rum making and its history, you have to go on the guided tour of the Appleton Estate.
Overview
The
large island of Jamaica relies heavily on tourism for its economic
well-being. This popular vacation spot is recently undergoing spasms of
increased violence. It can affect your holidays seriously, even more so
than the changes in the weather.
For travel information, see www.discoverjamaica.com.
Currency Summary
Current currency: dollar
100 cents equals 1 dollar
Coins: 1, 10 and 25-cents (rare); 1, 5, 10 and 20-dollars
Banknotes: 50, 100, 500 and 1000-dollars