NCB FX Rates Calculator
I want to BUY Foreign Currency (Bank Sells)
I want to SELL Foreign Currency (Bank Buys)
USD – United States Dollar
CAD – Canadian Dollar
GBP – British Pound
EUR – Euro
KYD – Cayman Dollar
Default indicative rates loaded. You may edit this field for specific quote matching.
* Rates are indicative and subject to change based on market conditions.
Understanding NCB Foreign Exchange Rates
When dealing with international transactions in Jamaica, understanding the National Commercial Bank (NCB) FX rates is crucial for maximizing the value of your money. Whether you are a business owner importing goods, a student paying tuition abroad, or receiving remittances, the exchange rate dictates the final cost or value of your transaction.
This calculator is designed to help you estimate the conversion between the Jamaican Dollar (JMD) and major foreign currencies like the USD, CAD, GBP, and EUR based on the buy/sell spread mechanics used by financial institutions.
"Bank Sells" vs. "Bank Buys"
One of the most confusing aspects of foreign exchange is the terminology. It is important to look at the transaction from the bank's perspective:
- Bank Sells (Selling Rate): This applies when you have JMD and you want to convert it to foreign currency (e.g., USD). The bank is "selling" you the USD. This rate is typically higher.
- Bank Buys (Buying Rate): This applies when you have foreign currency (e.g., USD) and want to convert it to JMD. The bank is "buying" the USD from you. This rate is typically lower.
Example Scenario:
If the Buying rate for USD is 154.50 and the Selling rate is 157.25:
If the Buying rate for USD is 154.50 and the Selling rate is 157.25:
- If you walk in with $100 USD, the bank pays you $15,450 JMD.
- If you need $100 USD, you must pay the bank $15,725 JMD.
Factors Influencing FX Rates
Exchange rates fluctuate daily based on several economic factors:
- Supply and Demand: High demand for USD by importers can drive the selling rate up.
- Inflation Rates: Lower inflation generally supports a stronger currency value.
- Central Bank Policies: Interventions by the Bank of Jamaica (BOJ) to stabilize the market.
- Tourism Seasonality: Inflows of foreign currency during peak tourist seasons can strengthen the JMD.
Using this Calculator
To use the tool above effectively:
- Select your Transaction Type. Choose "BUY" if you need foreign cash, or "SELL" if you have foreign cash to exchange.
- Select the Currency you are trading (USD, CAD, GBP, etc.).
- Enter the Amount of foreign currency.
- The Exchange Rate field will populate with an estimated indicative rate. If you have a specific quote from an NCB branch or online platform, you can manually update this field for precision.
${operationLabel}
@ Rate: ${rate.toFixed(2)}
Foreign Amount:
${amount.toFixed(2)} ${currency}
${actionLabel}
$${totalJMD.toLocaleString('en-JM', {minimumFractionDigits: 2, maximumFractionDigits: 2})} JMD
`;
}