If you’re planning a trip to Jamaica, you’re probably thinking of a host of things, Jamaican currency being one such consideration. Luckily, you need not look too far to scout for information. SOTC has created this easy guide on Jamaican money that will help make the holiday planning process seamless and stress-free!

Information on Jamaican currency

The Jamaican Dollar is Jamaica’s official currency and has been so since the year 1968. It is sometimes abbreviated to J$ in order to differentiate it from other dollar dominated currencies in the world. The Jamaican Dollar is divided into 100 cents. Banknotes are issued in the denominations of $50, $100, $500, $1,000 and $5,000, while coins are issued in the denominations of $5, $10 and $20. 

As of 2020, according to the Bank of Jamaica:

• 1 United States dollar equals to 137.65 Jamaican Dollars
• 1 Pound sterling equals to 177.65 Jamaican Dollars
• 1 Indian rupee equals to 1.91 Jamaican Dollars.

History of Jamaican currency

Up until the early 16th century, Jamaica had little use of a regular currency. In spite of a little gold being available, the indigenous tribes used it for ornamental purposes rather than for trade. When Christopher Columbus paved away for the Spaniards to settle, the first items used as a medium of exchange with the Tainos (tribe) included beads, mirrors, scissors and other trinkets. It was only in October of 1960 that the Bank of Jamaica was given sole right to mint coins as well as produce banknotes in Jamaica. Fast forward to January 30th, 168. On this date, the Jamaican House of Representatives voted to decimalize Jamaica money by introducing the dollar, valued at 10 shillings, to replace the Jamaican pound.

Digital transactions in Jamaica

Electronic or digital transactions refer to transactions conducted via debit cards, credit cards or wire transfers. According to a study conducted by Dr Friedrich Schneider (Professor of Economics at Johannes Kepler University) in the year 2016, only 1 in 10 transactions in Jamaica occur electronically. However, the government has been making major strides to reduce this disparity by introducing various policies. 

When it comes to traveling to Jamaica, tourists should know that most big businesses such as hotels and tour centres in commercial cities and regions will accept credit cards. However, if you’re visiting remote areas or exploring smaller, local shops, it’s best to carry some cash.

Tipping in Jamaica 

• Hotels – If you’d like to tip employees at a hotel, do so on the basis of the value of your request. For example, bell hops can be tipped 1-2$.
• Restaurants – At a fancy restaurant in a touristy spot, a tip of 10-20% of the bill is good enough. 
• Spas – Usually the spas are within the hotel/resort itself. Check to see if it’s okay to tip. If so, 10% will suffice.
• Taxi Driver – Usually taxi drivers don’t accept tips. If you’d like to show your gratitude, round off the figure to a whole number. 
• Tour Guide – Jamaican tour guides expect a tip. Decide on the amount based on how knowledgeable and friendly they are. 5-10% is a good tip.