Jamaican dollar

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Jamaican dollar
Image:Jamaican Dollar.jpg 1 dollar coin
ISO 4217 Code	JMD
User(s)	Jamaica
Inflation	9.1%
Source	The World Factbook, 2006 est.
Subunit
1/100	cent
Symbol	$
Coins	1, 10, 25 cents, 1, 5, 10, 20 dollars
Banknotes	50, 100, 500, 1000 dollars
Central bank	Bank of Jamaica
Website	www.boj.org.jm

The dollar (currency code JMD) has been the currency of Jamaica since 1969. It is normally abbreviated with the dollar sign, $, or, alternatively, J$ or JA$ to distinguish it from other dollar-denominated currencies. It is divided into 100 cents.

Contents 1 History 2 Coins 3 Banknotes 4 Use outside of Jamaica 5 Trivia 6 See also 7 External links

History

On January 30, 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.

Coins

At the time of its introduction, coins of 1 cent (1.2 pence), 5 cents (6 pence), 10 cents (1 shilling), 20 cents (2 shillings) and 25 cents (2 shillings 6 pence) were produced. With the exception of the 1 cent, the sizes of the coins were identical to those they replaced.

50 cents coins were introduced in 1976 but production for circulation ceased in 1989, along with that of the 20 cents. In 1990, 1 dollar coins were introduced, followed by 5 dollars in 1994, 10 dollars in 1999 and 20 dollars in 2000.

Coins currently in circulation are

• 1 cent
• 10 cent
• 25 cent
• $1
• $5
• $10
• $20

Banknotes

In 1969, banknotes of 50 cents (5 shillings), $1 (10 shillings), $2 (£1), and $10 (£5) were introduced. The $5 note was introduced in 1970, followed by the $20 in 1976, when the 50 cents note was replaced by a coin. $100 notes were added in 1986, followed by $50 notes in 1988. The $2 note was dropped in 1989, whilst the $1 note was replaced by a coin in 1990. In 1994, coins replaced the $5 notes and $500 notes were introduced. In 1999, $10 coins replaced notes, whilst, in 2000, $20 coins replaced the notes and $1000 notes were introduced.

Banknotes currently in circulation are

• $50
• $100
• $500
• $1000

Use outside of Jamaica

The Jamaican dollar was used not only by Jamaica, but also by the Cayman Islands, a former dependency of Jamaica, until 1972. In that year, the territory stopped using the Jamaican dollar and adopted its own currency, the Cayman Islands dollar.

Trivia

• The five dollar coin is magnetic.

Use Yahoo! Finance:	AUD CAD CHF EUR GBP HKD JPY USD
Use XE.com:	AUD CAD CHF EUR GBP HKD JPY USD
Use OANDA.com:	AUD CAD CHF EUR GBP HKD JPY USD

See also

• Central banks and currencies of the Caribbean

Wikipedia information about Jamaican dollar This article is licensed under the GNU Free Documentation License. It uses material from the Wikipedia article "Jamaican dollar". It may not have been reviewed by professional editors (see full disclaimer). Help contribute to Americola and edit this article.