Business, Legal & Accounting Glossary
JMD is the three-character currency abbreviation for the Jamaican Dollar based on the ISO-4217 standard codes. JMD is the official currency of Jamaica. The common usage symbol for the JMD is J$. The Bank of Jamaica is the government institution that issues the JMD. The JMD divides into smaller units known as Jamaican cents. The JMD is considered a minor currency and is not actively traded in the international currency markets. The value of the JMD “floats” against other currencies. That is, market forces determine the value of the JMD. Therefore, the JMD is easily convertible into other currencies. The approximate conversion value (in late 2005) for the JMD in US dollars is JMD 64+ to USD 1. Jamaican banknotes are issued in denominations of $50, $100, $500, and $1000. All smaller denominations of the JMD are issued in coin.
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This glossary post was last updated: 9th February, 2020 | 4 Views.