How the Jamaican Dollar Has Devalued Over Time

Below is a table summarizing how the Jamaican dollar has continued to lose value between the years 1969 to 2018.

The data shows the average annual exchange rate which is calculated as a simple average from end of month rates.

You will notice huge leaps in devaluation between some years and years with minimal changes in the value of the dollar.

  

It is remarkable how quickly the dollar has weakened in a relatively short time frame.

YEAR USD VS JMD
1969
US$1.00
=
J$1.20
1969
US$1.00
=
J$1.20
1970
US$1.00
=
J$1.20
1971
US$1.00
=
J$1.20
1972
US$1.00
=
J$0.77
1973
US$1.00
=
J$0.90
1974
US$1.00
=
J$0.91
1975
US$1.00
=
J$0.91
1976
US$1.00
=
J$0.91
1977
US$1.00
=
J$0.91
1978
US$1.00
=
J$1.41
1979
US$1.00
=
J$1.76
1980
US$1.00
=
J$1.78
1981
US$1.00
=
J$1.78
1982
US$1.00
=
J$1.78
1983
US$1.00
=
J$1.92
1984
US$1.00
=
J$3.94
1985
US$1.00
=
J$5.58
1986
US$1.00
=
J$5.50
1987
US$1.00
=
J$5.51
1988
US$1.00
=
J$5.51
1989
US$1.00
=
J$5.77
1990
US$1.00
=
J$7.24
1991
US$1.00
=
J$12.22
1992
US$1.00
=
J$22.63
1993
US$1.00
=
J$24.92
1994
US$1.00
=
J$33.29
1995
US$1.00
=
J$35.34
1996
US$1.00
=
J$37.26
1997
US$1.00
=
J$35.45
1998
US$1.00
=
J$36.64
1999
US$1.00
=
J$39.30
2000
US$1.00
=
J$43.39
2001
US$1.00
=
J$46.13
2002
US$1.00
=
J$48.56
2003
US$1.00
=
J$57.52
2004
US$1.00
=
J$61.34
2005
US$1.00
=
J$62.59
2006
US$1.00
=
J$65.90
2007
US$1.00
=
J$69.04
2008
US$1.00
=
J$72.91
2009
US$1.00
=
J$88.28
2010
US$1.00
=
J$87.33
2011
US$1.00
=
J$86.08
2012
US$1.00
=
J$88.80
2013
US$1.00
=
J$100.89
2014
US$1.00
=
J$111.30
2015
US$1.00
=
J$117.31
2016
US$1.00
=
J$125.14
2017
US$1.00
=
J$128.36
2018
US$1.00
=
J$129.72

Source: Bank of Jamaica

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Gigi Canpan
Guest

People in Jamaica do not value there country or else they would implement term limits which would lead to new ideas. Any politician that is currently serving and as been serving since the 80s are career politicians, they would continue until there death, and Jamaicans accept such insufficient governance. SO SAAAAAAAADDDDDDD

Andrew Mcleod
Guest

sad indeed

Sharon Nembhardt-Francis
Guest

Jamaican money went from being stronger than US currency to weaker decade by decade.

Marcel Bennett
Guest

I am not sure there was a time when it was stronger, unless you speak of colonial times under british rule

Grantley Hinds
Guest

I wonder who are the culprits. The people or the Politicians?

Kerry Mcfarlane
Guest

Politicians and the wealthy-influential are responsible for the degradation of the dollar. They borrow money from the IMF and then squander it. It is a cycle that is repetitive. Sadly that is not even the worst of Jamaica’s problems. Take a look at the crime rate(3rd in the world) living conditions are also at the bottom of the dung-pile, to advance from poverty is among the worst on the planet!

Why would I want to
Invest in such an unstable environment????

Esteban Agosto Reid
Guest

More depreciation to come…..
More agony…..

Esteban Agosto Reid
Guest

We are basically at the door or the eve of a currency crisis based on the rate and pace of depreciations !!

Esteban Agosto Reid
Guest

At closing today JMD 107.75 to US$ 1.00

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[…] How the Jamaican Dollar Has Devalued Over Time […]

Davidic Holy Covenant
Guest

The dollar was that strong because of the import and exporting of goods… Jamaica sold all our products to foreign countries so of course the dollar was to fall.

Davidic Holy Covenant
Guest

This has nothing to do with a system… This is caused by a poor GDP.

Angelo Scotty Pimping
Guest

don’t be surprise if u hear that by next year its $ 500 for a bread ..

Donald Howell
Guest

Wow

Gario Banks
Guest

I cant believe at one point the JMD was valued more than the USD. How can we reverse this?

George Kerr
Guest

As previously mentioned, Jamaica let foreign investors come into the country and take over its resources. At one point Jamaica had resources of value and had a plus on the export vs import of products…now this island relies more on tourism than anything else. With crime being a major concern , Jamaica has to understand that this too will become a shrinking commodity if things don’t turn around soon! Last I heard, in the near future Chinese investors will no longer require visas to migrate to Jamaica so expect a flood of Chinese people, products etc. to now be coming… Read more »

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Angelo Scotty Pimping
Guest

don’t be surprise if u hear that by next year its $ 500 for a bread ..

Donald Howell
Guest

Wow

Kerry Mcfarlane
Guest

Politicians and the wealthy-influential are responsible for the degradation of the dollar. They borrow money from the IMF and then squander it. It is a cycle that is repetitive. Sadly that is not even the worst of Jamaica’s problems. Take a look at the crime rate(3rd in the world) living conditions are also at the bottom of the dung-pile, to advance from poverty is among the worst on the planet!

Why would I want to
Invest in such an unstable environment????

Kerry Mcfarlane
Guest

Politicians and the wealthy-influential are responsible for the degradation of the dollar. They borrow money from the IMF and then squander it. It is a cycle that is repetitive. Sadly that is not even the worst of Jamaica’s problems. Take a look at the crime rate(3rd in the world) living conditions are also at the bottom of the dung-pile, to advance from poverty is among the worst on the planet!

Why would I want to
Invest in such an unstable environment????

Esteban Agosto Reid
Guest

We are basically at the door or the eve of a currency crisis based on the rate and pace of depreciations !!

Esteban Agosto Reid
Guest

We are basically at the door or the eve of a currency crisis based on the rate and pace of depreciations !!

Esteban Agosto Reid
Guest

More depreciation to come…..
More agony…..

Donald Howell
Guest

Wow

Davidic Holy Covenant
Guest

This has nothing to do with a system… This is caused by a poor GDP.

Davidic Holy Covenant
Guest

This has nothing to do with a system… This is caused by a poor GDP.

Davidic Holy Covenant
Guest

The dollar was that strong because of the import and exporting of goods… Jamaica sold all our products to foreign countries so of course the dollar was to fall.

Davidic Holy Covenant
Guest

The dollar was that strong because of the import and exporting of goods… Jamaica sold all our products to foreign countries so of course the dollar was to fall.

George Kerr
Guest

As previously mentioned, Jamaica let foreign investors come into the country and take over its resources. At one point Jamaica had resources of value and had a plus on the export vs import of products…now this island relies more on tourism than anything else. With crime being a major concern , Jamaica has to understand that this too will become a shrinking commodity if things don’t turn around soon! Last I heard, in the near future Chinese investors will no longer require visas to migrate to Jamaica so expect a flood of Chinese people, products etc. to now be coming… Read more »

George Kerr
Guest

As previously mentioned, Jamaica let foreign investors come into the country and take over its resources. At one point Jamaica had resources of value and had a plus on the export vs import of products…now this island relies more on tourism than anything else. With crime being a major concern , Jamaica has to understand that this too will become a shrinking commodity if things don’t turn around soon! Last I heard, in the near future Chinese investors will no longer require visas to migrate to Jamaica so expect a flood of Chinese people, products etc. to now be coming… Read more »

Gario Banks
Guest

I cant believe at one point the JMD was valued more than the USD. How can we reverse this?

Gario Banks
Guest

I cant believe at one point the JMD was valued more than the USD. How can we reverse this?

Grantley Hinds
Guest

I wonder who are the culprits. The people or the Politicians?

Grantley Hinds
Guest

I wonder who are the culprits. The people or the Politicians?

Sharon Francis
Guest

Jamaican money went from being stronger than US currency to weaker decade by decade.

Sharon Francis
Guest

Jamaican money went from being stronger than US currency to weaker decade by decade.

Gigi Canpan
Guest

People in Jamaica do not value there country or else they would implement term limits which would lead to new ideas. Any politician that is currently serving and as been serving since the 80s are career politicians, they would continue until there death, and Jamaicans accept such insufficient governance. SO SAAAAAAAADDDDDDD

Gigi Canpan
Guest

People in Jamaica do not value there country or else they would implement term limits which would lead to new ideas. Any politician that is currently serving and as been serving since the 80s are career politicians, they would continue until there death, and Jamaicans accept such insufficient governance. SO SAAAAAAAADDDDDDD

Esteban Agosto Reid
Guest

At closing today JMD 107.75 to US$ 1.00

Esteban Agosto Reid
Guest

At closing today JMD 107.75 to US$ 1.00

Esteban Agosto Reid
Guest

More depreciation to come…..
More agony…..

Orlando Blair
Guest

Its now a $116 JMD to $1 USD now and counting. It nuh tek any rocket scientist fi tell u which government destroyed the JMD. Then u have the ass dem come a tell people bout the devaluation is helping the country. How the hell it fi hell we when every damn thing is quoted in USD? The fool dem seh it wi mek we products dem cheaper on the international market. But we not exporting anything and even if we were exporting. We still have to import the raw material to create what ur exporting.The devaluation cause the price… Read more »

Orlando Blair
Guest

Its now a $116 JMD to $1 USD now and counting. It nuh tek any rocket scientist fi tell u which government destroyed the JMD. Then u have the ass dem come a tell people bout the devaluation is helping the country. How the hell it fi hell we when every damn thing is quoted in USD? The fool dem seh it wi mek we products dem cheaper on the international market. But we not exporting anything and even if we were exporting. We still have to import the raw material to create what ur exporting.The devaluation cause the price… Read more »

Orlando Blair
Guest

Its now a $116 JMD to $1 USD now and counting. It nuh tek any rocket scientist fi tell u which government destroyed the JMD. Then u have the ass dem come a tell people bout the devaluation is helping the country. How the hell it fi hell we when every damn thing is quoted in USD? The fool dem seh it wi mek we products dem cheaper on the international market. But we not exporting anything and even if we were exporting. We still have to import the raw material to create what ur exporting.The devaluation cause the price… Read more »

Stan Walters
Guest

Do we realise where the country start sliding down hill

Patrick Duncan
Guest

About 1988 I went to Japan and could not imagine that currency could be so much. Each time i went to cambio I needed help to carry. Was then about Y254 to the US and I thought that was just absurd. JA near halfway there

Patrick Duncan
Guest

About 1988 I went to Japan and could not imagine that currency could be so much. Each time i went to cambio I needed help to carry. Was then about Y254 to the US and I thought that was just absurd. JA near halfway there

Sonia Jones
Guest

oh my God

Pj Foreman
Guest

WHAT WENT WRONG AND THEY ARE NOT DOING ANYTHING TO FIX IT

Gigi Canpan
Guest

People in Jamaica do not value there country or else they would implement term limits which would lead to new ideas. Any politician that is currently serving and as been serving since the 80s are career politicians, they would continue until there death, and Jamaicans accept such insufficient governance. SO SAAAAAAAADDDDDDD

Gigi Canpan
Guest

People in Jamaica do not value there country or else they would implement term limits which would lead to new ideas. Any politician that is currently serving and as been serving since the 80s are career politicians, they would continue until there death, and Jamaicans accept such insufficient governance. SO SAAAAAAAADDDDDDD