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The dollar (currency code JMD) has been the currency of Jamaica since 1968. It is normally abbreviated with the dollar sign $, or alternatively JA$ to distinguish it from other dollar-denominated currencies. It is divided into 100 cents.
History
On January 30, 1968, the Jamaican House of Representatives voted to decimalize the currency by introducing the dollar, worth 10 shillings, to replace the pound.
At the time of its introduction, coins of 1 cent (1.2d), 5 cent (6d), 10 cent (1/-), 20 cent (2/-) and 25 cent (2/6) were produced and banknotes of 50 cent (5/-), $1 (10/-), $2 (£1), and $10 (£5). These coins and banknotes went into circulation on September 8, 1969.
The Jamaican dollar was used not only by Jamaica, but also by the Cayman Islands, a former dependency of Jamaica, until 1972. In that year, the territory stopped using the Jamaican dollar, and adopted its own currency (the Cayman Islands dollar).
In circulation
Coins currently in circulation
- 1 cent
- 10 cent
- 25 cent
- $1 (replaced bill in 1989)
- $5 (denomination introduced as bill October 20, 1970; replaced with coin in 1994)
- $10 (replaced bill in 1999)
- $20 (denomination introduced as bill 1974, replaced with coin 2000)
The $2 bill was dropped in 1989 as were the 20 cent and 50 cent coins (the 50 cent coin had replaced the 50 cent bill in 1974). The 5 cent coin was dropped in 1994
External links
"Jamaican dollar"