How the Jamaican Dollar Has Devalued Over Time
Below is a table summarising how the Jamaican dollar has continued to lose value between the years 1969 to 2022.
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 |
|---|---|---|---|
| US$1.00 | J$1.20 | ||
| US$1.00 | J$1.20 | ||
| US$1.00 | J$1.20 | ||
| US$1.00 | J$1.20 | ||
| US$1.00 | J$0.77 | ||
| US$1.00 | J$0.90 | ||
| US$1.00 | J$0.91 | ||
| US$1.00 | J$0.91 | ||
| US$1.00 | J$0.91 | ||
| US$1.00 | J$0.91 | ||
| US$1.00 | J$1.41 | ||
| US$1.00 | J$1.76 | ||
| US$1.00 | J$1.78 | ||
| US$1.00 | J$1.78 | ||
| US$1.00 | J$1.78 | ||
| US$1.00 | J$1.92 | ||
| US$1.00 | J$3.94 | ||
| US$1.00 | J$5.58 | ||
| US$1.00 | J$5.50 | ||
| US$1.00 | J$5.51 | ||
| US$1.00 | J$5.51 | ||
| US$1.00 | J$5.77 | ||
| US$1.00 | J$7.24 | ||
| US$1.00 | J$12.22 | ||
| US$1.00 | J$22.63 | ||
| US$1.00 | J$24.92 | ||
| US$1.00 | J$33.29 | ||
| US$1.00 | J$35.34 | ||
| US$1.00 | J$37.26 | ||
| US$1.00 | J$35.45 | ||
| US$1.00 | J$36.64 | ||
| US$1.00 | J$39.30 | ||
| US$1.00 | J$43.39 | ||
| US$1.00 | J$46.13 | ||
| US$1.00 | J$48.56 | ||
| US$1.00 | J$57.52 | ||
| US$1.00 | J$61.34 | ||
| US$1.00 | J$62.59 | ||
| US$1.00 | J$65.90 | ||
| US$1.00 | J$69.04 | ||
| US$1.00 | J$72.91 | ||
| US$1.00 | J$88.28 | ||
| US$1.00 | J$87.33 | ||
| US$1.00 | J$86.08 | ||
| US$1.00 | J$88.80 | ||
| US$1.00 | J$100.89 | ||
| US$1.00 | J$111.30 | ||
| US$1.00 | J$117.31 | ||
| US$1.00 | J$125.14 | ||
| US$1.00 | J$128.36 | ||
| US$1.00 | J$129.72 | ||
| US$1.00 | J$134.22 | ||
| US$1.00 | J$143.27 | ||
| US$1.00 | J$151.62 | ||
| US$1.00 | J$154.21 |
Source: Bank of Jamaica
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People in Jamaica do not value there country or else they would implement term limits which would lead to new ideas. Any politician that is currently serving and as been serving since the 80s are career politicians, they would continue until there death, and Jamaicans accept such insufficient governance. SO SAAAAAAAADDDDDDD
sad indeed
Jamaican money went from being stronger than US currency to weaker decade by decade.
I am not sure there was a time when it was stronger, unless you speak of colonial times under british rule
I wonder who are the culprits. The people or the Politicians?
Politicians and the wealthy-influential are responsible for the degradation of the dollar. They borrow money from the IMF and then squander it. It is a cycle that is repetitive. Sadly that is not even the worst of Jamaica’s problems. Take a look at the crime rate(3rd in the world) living conditions are also at the bottom of the dung-pile, to advance from poverty is among the worst on the planet!
Why would I want to
Invest in such an unstable environment????
We are basically at the door or the eve of a currency crisis based on the rate and pace of depreciations !!
More depreciation to come…..
More agony…..
At closing today JMD 107.75 to US$ 1.00
Today march 16th its $145 Jamaican dollars to $1US dollar.
[…] How the Jamaican Dollar Has Devalued Over Time […]
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.
This has nothing to do with a system… This is caused by a poor GDP.
don’t be surprise if u hear that by next year its $ 500 for a bread ..
Wow
I cant believe at one point the JMD was valued more than the USD. How can we reverse this?
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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don’t be surprise if u hear that by next year its $ 500 for a bread ..
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.
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.
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 »
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 »
I cant believe at one point the JMD was valued more than the USD. How can we reverse this?
I cant believe at one point the JMD was valued more than the USD. How can we reverse this?
This has nothing to do with a system… This is caused by a poor GDP.
This has nothing to do with a system… This is caused by a poor GDP.
Wow
Wow
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????
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????
We are basically at the door or the eve of a currency crisis based on the rate and pace of depreciations !!
We are basically at the door or the eve of a currency crisis based on the rate and pace of depreciations !!
More depreciation to come…..
More agony…..
More depreciation to come…..
More agony…..
At closing today JMD 107.75 to US$ 1.00
At closing today JMD 107.75 to US$ 1.00
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
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
Jamaican money went from being stronger than US currency to weaker decade by decade.
Jamaican money went from being stronger than US currency to weaker decade by decade.
I wonder who are the culprits. The people or the Politicians?
I wonder who are the culprits. The people or the Politicians?
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 »
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 »
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 »
Do we realise where the country start sliding down hill
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
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
oh my God
WHAT WENT WRONG AND THEY ARE NOT DOING ANYTHING TO FIX IT
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
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