HELP..Is the currency converter chart still on this Board ? If so, where is it ????
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HELP..Is the currency converter chart still on this Board ? If so, where is it ????
Here is the link to the converter: http://www.oanda.com/currency/converter/
Also here is a link to the current rates at the FX Trader Cambios: http://www.gracekennedy.com/fx-trader-rates
Thanks much Ras, I am bringing 4 ladies, they loved the chart I gave them last year................
85 to 1 has sort of been the going rate the last couple of years that we went. I always use the cambino to exchange money as the airport ones tend to give very bad rates. We always convert to American to before we go as we get a better rate using American than Canadian....even though last year the CAD$ was worth more than the American when we were down there.
I could be wrong but it seems to me there's a cost every time currency is converted. With that in mind I tend to withdraw J's from the ATM. That way its a straight one time conversion form Canadian to Jamaican dollars which I assume is at the best rate possible. I've never really sat down to figure out if it actually is the best method though. I do it mainly for convenience. It's a bonus if it's also the best rate.Quote:
Originally Posted by Crusher
Has anyone crunched the numbers?
I have an American Savings Account through my bank so it doesn't really cost me much of anything. They gave me the account for nothing when I signed my last mortgage with them.
I used an online currency converter to convert 1 $CA to $US to $JA then compared to 1$CA to $JA. You gain .02$Jam going the long way. I'm sure the difference is round-up error since the source of the conversion rates was the same and I don't think markup was included. You may get luckier by doing the conversion is 2 steps in 2 different banks on 2 different days.
I just take down C$ put it in my Safety box and exchange it as I need it at the cambio or hotel for J$.
That way I don't have to deal with the Bank machines - my experience is the bank machines are either out of money or don't work. Also there are always lines at the bank machines and its hot in town.
The only problem is that once you've converted to J$ - the bills seem to evaporate when exposed to the elements.
K3
What and where are cambio's?
If the exchange rate is 85 to 1,couldn't you just go 100 to 1,tip included?
limeex2 ................. cambios are like banks but main business is exchanging U$ dollars or Euros or Pounds or Loonies into Jamaican $$$$ or receiving money by American Express etc...... there are numerous locations in Negril ................ do a search of past postings.
Your "tip included" exchange rate should be about $65JA to $70JA to US$$$$$$ depending on service.
My experience with ATM's has been good. I use the ATM at the airport when I arrive. Never a problem with that one for me. Then, I use the NCB machine at the Pet Com gas station next to the Aerodrome. Quick taxi ride, I've hardly ever encountered a llne and it has always had money the times I've used it. I have a credit union card that doesn't charge a fee.
The rate is a little better than the Cambio - I got 85.50 New Year's. But the small difference really doesn't add up until you change a LOT of money. I like the convenience of the ATM but I always bring some cash, too. And a couple blank personal checks. Always have a backup plan :)
limeex2,
Cambio's are money exchanges. There are several around town. I have always used the FX Trader at the HiLo but there is one on the beach road, I think it's in front of Bourbon Beach and at least one on One Love Drive (the cliff road). I'm sure others will chime in with more.
Rounding up to 100 to 1 actually de-values the Jamaican dollar not the other way around.
ooops. No wonder I am still unemployed. lol :-)
Ive been keeping an eye on our flight and it's gone up another 80 bucks, I am so happy I booked when I did. It's going to top a thousand a ticket soon.
My two cents on changing money. Just returned Sunday and used the ATM by the negril airport as my credit card does not charge a fee. Rate varied quite a bit. I went twice and both times maxed out the 30,000 ja. On 2/13 cost me 275.85 and on 2/10 285.95. Thought it changed the 3 pr 4 pct diff over the few days but thought it was a better rate than I could have received from the cambio cross from Burger King .
Xe.com
Somebody mentioned in another thread they can't believe travelers checks still exist. I used these last time and while there was some trouble with " the systems" being down I find it hard to just use an ATM. My bank charged a fee on top of the ATM fees and it cost me about 6 dollars a transaction. How do you guys avoid these fees?
1. Use NCB ATMsQuote:
Originally Posted by SandT CHI
2. Have a bank at home that refunds international charges or doesn't have them
That's about as close to the government rate as you'll get
Cap
oanda.com says today's exchange is $1 us to $106 Jamaican. Is this close to what you are seeing on the island now??
Since the 1st of Feb I've sent 1,800 US by way of debit card
Average rate is 106.17
Every time currency conversion comes up I seem to be the only person letting newcomers know that the online currency converters will give the BANK exchange rate... what interbank excange rate is that day. What the CUSTOMER gets is always slightly less. That slightly less rate is the profit margin for the banks/cambios. I was just there & the US to JA was $1US=$104.20J$. If you expect the rate you see online, you will be disappointed. Make your own cheat sheet when you get there based on the rate of exchange. It fluctuates. Last summer it was $1US=~$98J. My first trip, $1US=$5.35. Lots of years & trips since then :cool:
That two dollar bill on my avatar cost 2.28US when I got it. 1 US dollar was .88 Ja
Yeah, and you used to be able to stay up all night too! :cool: :pQuote:
Originally Posted by captaind
We gotta connect on the next reach, David.
Peace and Guidance
i jusr got my currency converted. The exchange rate was 107.38 now 107.51 and I locked in at 106. The only issue I had is that the bank had a hard time getting smaller JMD denominations.
Its easy, (not exact) but $1 US = $100J, $5 US = $500J, $10 US = $1000J
I was there last week, $1 = $105
Yep. I didn't bother w/ a cheat sheet since it was so close. I expect by my return for summer, based on what's been happening, it might be $1US=$110J.Quote:
Originally Posted by luvjabd