Complete Financial Report of Jamaica

Basic Information

• Country ISO Code: JM

• Official Language: English

• Language ISO Code: en

• Current Official Currency: Jamaican Dollar

• Currency ISO Code: JMD

Monetary History of Jamaica

Current Official Currency: Jamaican Dollar (JMD)

• ISO Code: JMD

• Currency Symbol: $ or J$ (the "J" distinguishes it from other dollar currencies)

• Singular Name: dollar

• Plural Name: dollars

• Subdivision: 1 dollar = 100 cents

• Fraction Name (singular): cent

• Fraction Name (plural): cents

• Date of Introduction: 1969 (following independence from the British pound)

• Issuing Authority: Bank of Jamaica

• Mint: Coins and banknotes are produced by various international mints and printers (specific mint details vary by issuance)

• Coin Denominations: Coins were historically issued in 1, 5, 10, 25, and 50 cents, and 1 dollar; however, cent coins have been phased out and are no longer in circulation since 2018.

• Banknote Denominations: Commonly issued banknotes include 50, 100, 500, 1000, and 5000 Jamaican dollars.

• Status: Actively circulating currency

Economic and Monetary Context

• The Jamaican dollar was introduced in 1969, replacing the Jamaican pound at a rate of 1 pound = 2.40 dollars, aligning with the country’s independence and monetary sovereignty.

• Although cents remain a unit of account for pricing, cash transactions are rounded to the nearest dollar since cent coins are no longer in circulation.

• The Bank of Jamaica manages monetary policy, currency issuance, and exchange rate controls.

• The Jamaican dollar is subject to market fluctuations and has experienced periods of depreciation against major currencies like the US dollar.

• The currency symbol J$ is used to distinguish it from other dollar-denominated currencies internationally.

Summary Table

This report is prepared in English, the official language of Jamaica, based on the latest available financial and historical data about the Jamaican dollar. If you require translations or additional details, please let me know.