USD to Jamaican Dollar (JMD) Calculator
Enter the amount in US Dollars
Current Bank of Jamaica or Cambio rate
Wire fees, MoneyGram, or Western Union costs
Any fees deducted upon receipt in Jamaica
Gross Amount (USD):
$0.00
Less Transfer Fees (USD):
-$0.00
Net Amount Converted (USD):
$0.00
Exchange Rate Used:
155.00 JMD
Less Local Fees (JMD):
-J$0.00
Total Amount Received:
J$0.00
Understanding the US to Jamaican Exchange Rate
Whether you are sending remittances to family in Kingston, planning a vacation to Montego Bay, or conducting business in Ocho Rios, understanding the conversion from United States Dollars (USD) to Jamaican Dollars (JMD) is crucial for accurate financial planning. The exchange rate fluctuates daily based on market conditions set by the Bank of Jamaica (BOJ) and authorized foreign exchange dealers.
How the JMD Exchange Rate is Determined
The value of the Jamaican Dollar against the US Dollar is a floating exchange rate. This means it is determined by supply and demand in the foreign exchange market. Several factors influence this rate:
- Tourism Inflows: High tourist seasons often bring more USD into the economy, potentially stabilizing or strengthening the JMD.
- Remittances: Money sent home by Jamaicans living abroad is a massive source of foreign exchange.
- Import Demand: Since Jamaica imports oil and many consumer goods, high demand for USD to pay for these imports can drive the cost of the US dollar up (weakening the JMD).
- Central Bank Intervention: The Bank of Jamaica (BOJ) occasionally intervenes in the market to smooth out sharp volatility (B-FXITT).
Where to Exchange Currency in Jamaica
If you are looking to convert cash, there are three primary options, each offering different rates:
- Cambios (Casas de Cambio): These are licensed exchange bureaus found throughout the island. They often offer more competitive rates than commercial banks.
- Commercial Banks: Banks like NCB, Scotiabank, and JN Bank offer secure exchange services, though their spread (the difference between buying and selling rates) might be wider than cambios.
- Remittance Agencies: Services like Western Union and MoneyGram use their own set exchange rates, which may differ significantly from the "mid-market" rate you see on Google.
Calculating the Real Cost of Conversion
When converting USD to JMD, the "headline" exchange rate isn't the only number that matters. You must account for the spread and fees. This calculator helps you determine the net amount of Jamaican Dollars you will receive after deducting transfer fees (paid by the sender) and any local pickup fees.
Example: If the spot rate is 155 JMD to 1 USD, but a remittance service charges a $10 fee on a $100 transfer, your effective exchange rate drops significantly because you are only converting $90 of your original capital.
Tips for Getting the Best Rate
- Compare Providers: Check the rates at multiple cambios and banks before exchanging large sums.
- Avoid Airport Exchanges: Currency exchange desks at airports (Sangster International or Norman Manley) typically offer the least favorable rates due to high convenience fees.
- Watch the BOJ Rate: Keep an eye on the Bank of Jamaica's daily weighted average rate to know if you are getting a fair deal.