The Jamaican dollar bill is a fascinating piece of currency.
Jamaican dollar bills are issued by the Bank of Jamaica, the country's central bank.
These bills come in various denominations, including $50, $100, $500, $1000, and $5000.
One of the distinctive features of Jamaican dollar bills is the portrait of a notable Jamaican figure on each bill.
What Is JMD?
The Jamaican dollar, also known as JMD, is the official currency of Jamaica and is subdivided into 100 cents.
The currency symbol for JMD is J$ or JA$.
JMD banknotes currently come in denominations of J$50, J$100, J$500, J$1,000, and J$5,000.
Each note has the portrait of an eminent Jamaican figure on the front, mainly either those considered Jamaican heroes or former prime ministers.
The backside of the dollar bills feature scenes of Jamaican locations or famous landmarks.
Many places in Jamaica that are frequented by tourists also accept U.S. dollars, but businesses located away from the main tourist hubs are more likely only to take the JMD.
The USD/JMD exchange rate, as of July 4, 2021, stood at 1 USD = 150.05 JMD.
Consider reading: 400 000 Jamaican Dollars to Us
Jamaica Currency
The Jamaican dollar has a rich history that's just as fascinating as the banknotes themselves. The first money in Jamaica was Spanish copper coins called Maravedis.
You might be surprised to know that Jamaicans used to use everything from British pounds to Spanish coins. The transition to the Jamaican dollar in 1969 was a significant milestone.
The Jamaican dollar was introduced in 1968, with the Jamaican House of Representatives voting to decimalize the currency on January 30 of that year. This marked the beginning of a new era for Jamaican currency.
The first government-issued banknotes were introduced in 1904, and by 1960, the Bank of Jamaica had taken over the responsibility of producing coins and banknotes. This move standardized the currency and made it easier to manage.
The Jamaican dollar replaced the pound, with the first coins and banknotes going into circulation on September 8, 1969. This marked a new chapter in Jamaican currency history.
Building a collection of Jamaican dollar bills requires some research and planning. Start by identifying what piques your interest and set a budget, and then look for reputable dealers or trusted online platforms to find the notes you want.
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History and Features
The Jamaican dollar bills have a rich history that dates back to the 16th century when the Spanish colonized Jamaica. The first money in Jamaica was Spanish copper coins called Maravedis.
Jamaica was a British colony for two centuries, and during this time, Jamaicans primarily used British currency or a slightly customized version of it. The Bank of Jamaica was given the sole responsibility of producing coins and banknotes in 1960.
In 1968, the Jamaican House of Representatives voted to decimalize the currency by introducing the dollar, worth 10 shillings, to replace the pound. Coins and banknotes went into circulation on September 8, 1969.
All Jamaican banknotes are the same size (145 x 68 mm) and have a unique watermark, namely the portrait that is featured on the particular note. Each note has the serial number appearing twice on the face of each note.
The front of each note bears the portrait of either a Jamaican national hero or a former Prime Minister, while local scenes and popular landmarks appear on the back. Special symbols to aid the visually impaired appear on the front of all notes except the $1000 and $5000.
Jamaican dollar bills currently come in denominations of J$50, J$100, J$500, J$1,000, and J$5,000. The front side of the banknotes has special symbols or numerals in large print to help the visually impaired.
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