Convert Foreign Currency to JMD
Convert JMD to Foreign Currency
USD – United States Dollar
CAD – Canadian Dollar
GBP – British Pound
EUR – Euro
Enter the rate provided by your bank or the BOJ.
Estimated Conversion:
Understanding the Jamaican Dollar (JMD) Exchange Rate
Navigating the financial landscape in Jamaica requires a solid understanding of how the Jamaican Dollar (JMD) fluctuates against major global currencies like the US Dollar (USD), Canadian Dollar (CAD), and the British Pound (GBP). Since the early 1990s, Jamaica has operated under a floating exchange rate system, meaning the value of the JMD is determined by market forces of supply and demand.
How to Use the Jamaican Currency Exchange Calculator
This calculator is designed to help travelers, investors, and business owners estimate the value of their currency transfers. To get the most accurate result, follow these steps:
Select Conversion Direction: Choose whether you are converting foreign cash into Jamaican Dollars or buying foreign currency with JMD.
Choose Currency: Select the specific foreign currency involved (USD, CAD, GBP, or EUR).
Input the Rate: Exchange rates vary between commercial banks (like NCB or Sagicor) and Cambio outlets. For the most accurate calculation, input the specific "Buy" or "Sell" rate provided by your institution.
Factors That Influence the JMD Rate
Several macroeconomic factors contribute to the daily movement of the Jamaican Dollar:
Net International Reserves (NIR): Managed by the Bank of Jamaica (BOJ), these reserves act as a buffer to maintain market stability.
Tourism Inflows: High tourist seasons usually increase the supply of USD in the local market, which can sometimes strengthen the JMD.
Remittances: Money sent home by the Jamaican diaspora is a significant source of foreign exchange.
Monetary Policy: Interest rate adjustments by the BOJ influence investor behavior and currency demand.
Example Calculations
If you are a traveler arriving in Montego Bay with 500 USD and the current "Buy" rate at a local Cambio is 154.20 JMD, your calculation would be:
500 USD × 154.20 = 77,100.00 JMD
Conversely, if you are a local business owner looking to purchase 1,000 GBP for a supply order and the "Sell" rate is 205.10 JMD, you would need:
1,000 GBP × 205.10 = 205,100.00 JMD
Pro Tip: "Buy" vs "Sell" Rates
When looking at an exchange board in Jamaica, remember: the Buy Rate is what the bank pays you for your foreign currency. The Sell Rate is the price you pay the bank to get foreign currency. The "Spread" is the difference between these two, which represents the bank's profit margin.
function updateLabels() {
var type = document.getElementById("conversionType").value;
var label = document.getElementById("amountLabel");
if (type === "toJMD") {
label.innerText = "Amount (Foreign Currency):";
} else {
label.innerText = "Amount (Jamaican Dollars – JMD):";
}
document.getElementById("jmdResultContainer").style.display = "none";
}
function calculateJMD() {
var type = document.getElementById("conversionType").value;
var amount = parseFloat(document.getElementById("inputAmount").value);
var rate = parseFloat(document.getElementById("exchangeRate").value);
var currency = document.getElementById("currencyPair").value;
var resultDisplay = document.getElementById("jmdResultContainer");
var finalValue = document.getElementById("finalValue");
var resultTitle = document.getElementById("resultTitle");
if (isNaN(amount) || amount <= 0) {
alert("Please enter a valid amount.");
return;
}
if (isNaN(rate) || rate <= 0) {
alert("Please enter a valid exchange rate.");
return;
}
var total;
if (type === "toJMD") {
// Foreign to JMD: Multiply
total = amount * rate;
resultTitle.innerText = "Total JMD Received:";
finalValue.innerText = total.toLocaleString('en-US', {minimumFractionDigits: 2, maximumFractionDigits: 2}) + " JMD";
} else {
// JMD to Foreign: Divide
total = amount / rate;
resultTitle.innerText = "Total " + currency + " Received:";
finalValue.innerText = total.toLocaleString('en-US', {minimumFractionDigits: 2, maximumFractionDigits: 2}) + " " + currency;
}
resultDisplay.style.display = "block";
}