What kind of currency is accepted in jamaica

By the Order in Council and Proclamation of 11 November , and by local laws, the penny and half-penny made of cupro-nickel were authorised to be struck for use in Jamaica. They weighed the same as the English coins of similar value, but had the Jamaican coat of arms on the reverse.

As the British silver coins were accepted, there was no need for higher denominations of Jamaican coinage. The pennies and half-pennies minted in constitute the first truly Jamaican coins. In , the range of denominations was extended when a farthing was introduced. In , when the worn coins were being replaced, the metal content was changed to nickel-brass. By this time, old fears and distrust had disappeared and there were no problems associated with this change.

The farthing, first issued in was issued for the last time in Alterations in the designs of these first Jamaican coins were made when British sovereigns changed, the sizes were reduced in and an up-dated version of the coat of arms was used in following independence in The first banknotes used in Jamaica were issued by private commercial banks in the mid 19th century. The Bank of Jamaica no relation to the present central bank , the first commercial bank to operate in Jamaica was established in May but did not issue any notes.

The first notes issued by this bank were payable in British pounds, Spanish dollars and local currency. Another bank, the London and Colonial Bank started operations in January but by April it was closed.

With the failure of the London and Colonial Bank in , the Colonial Bank enjoyed a monopoly in the banking system. In , it was incorporated with Barclays Bank in London and in there was a further amalgamation with the Anglo Egyptian Bank Ltd. Following this merger, notes were issued in the name of Barclays Bank, D. During the late s, with the increasing trade between Jamaica and Canada, branches of Canadian banks were established in Jamaica. The Bank of Nova Scotia was the first to begin operating here.

Although the first branch was established in August , it did not issue currency notes until These banks also issued their own notes. These chartered banks continued to issue their own notes in denominations of 1 and 5 pounds until when they were demonetised and withdrawn from circulation. They bore the portrait of King George V and the signature of C. Anderson, who was the Island Treasurer. It was the scarcity of silver coins of the lower denominations which made it necessary for these notes to be issued.

Only the smaller denominations were issued as the chartered banks operating in Jamaica were still issuing 1 and 5 pound notes. Introducing Jamaica. Plan your trip. Travel to Jamaica Where to stay. Before you go. Book your flights. Credit and debit cards are accepted in tourist areas, at hotels and restaurants.

Some All Inclusive resorts run on a cashless system, where all extra expenses get charged to your room account. As a rule, plan to always use your credit or debit card, and when needed use American currency in the touristy areas and Jamaican currency outside of the resorts. Are you planning a trip to Jamaica any time soon?

Can you use American dollars? Likewise, a major hotel in a tourist centre will accept USD. If you think you will spend all your time in the resort, then USD will be your best option. If you want to get out and explore more of what Jamaica has to offer, we recommend taking Jamaican Dollars. Using Jamaican Dollars often works out cheaper at smaller guest houses, local shops and restaurants, because of local exchange rates.