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Jamaica







Certainly! Here is the complete financial report of Jamaica translated into International English:


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: September 8, 1969

  • Mint: Coins were initially minted by the British Royal Mint

  • Issuing Authority: Bank of Jamaica

  • Coin Denominations: Coins of 1, 5, 10, 20, and 25 cents; 1 and 5 dollars (cent coins have been progressively withdrawn from circulation, but cents remain in accounting)

  • Banknote Denominations: 50, 100, 500, 1000, and 5000 dollars

  • Status: Actively circulating currency


Historical and Economic Context

  • Prior to 1969, the official currency was the Jamaican pound, which circulated from 1840 and was linked to the British pound sterling.

  • On January 30, 1968, the Jamaican House of Representatives unanimously approved the move to a decimal system, adopting the dollar as the main unit, worth 10 shillings of the old pound.

  • The official changeover to the Jamaican dollar and decimal system occurred on September 8, 1969, known as "Changeover Day."

  • Coins and banknotes were designed to reflect national identity, replacing images of Queen Elizabeth II with Jamaican national symbols.

  • The Bank of Jamaica was granted exclusive rights to issue coins and banknotes starting in 1960.

  • In 1994, a monetary restructuring introduced coins of 1, 10, and 25 cents and banknotes of 10, 20, 50, 100, and 500 dollars.

  • The 20-dollar banknote was replaced by a coin in 2000, featuring the national hero Marcus Garvey.

  • Currently, coins in circulation include 1, 10, 25 cents and 1, 5, 10, 20 dollars; banknotes include 50, 100, 500, 1000, and 5000 dollars.


Summary Table

CurrencyISO CodeDate of IntroductionCurrent StatusSubdivisionIssuing Authority
Jamaican Dollar JMD September 8, 1969 In circulation 1 dollar = 100 cents Bank of Jamaica
Jamaican Pound (former) - 1840 to 1969 Out of circulation 1 pound = 20 shillings Bank of England (pre-independence)
 

 



Fonte:

Autor do blog: Nilton Romani

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