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I know most resorts exchange money as well. Is their exchange rate usually good or no? What is the best source for finding out the exchange rate and does it change often? This is our 6th time and finally figuring out the importance of doing this. It is still a little confusing to me though, not gonna lie P:).
3 sleeps!!!!
Cambios or Banks give the best rate (with the possible exception of a "street hustler" who might slip a counterfeit note or two into the mix).
The resorts change money as a courtesy to their guests but they usually give less so they make a litte on the money when they deposit it into their bank account.
Peace and Guidance
http://www.currencyconverterrate.com//
There are many others but this is the link I use as I live in Jamaica and encounter lots of foreign currency.
Peace and Guidance
Keep in mind that the rates you see listed online as the exchange rate is the bank rate. You will not get as much, only slightly less, so the banks/cambios make a bit of a profit on every $$$ exchanged... their cost of providing the service. A good way to get the current rate is to ask here on the board.
Unless you are desperate, skip exchanging at your hotel. The exchange is very much in their favor. Example: The cambio might be exchanging for $86.50J for $1US. Hotel rate... $80J for $1US. Hope this helps.
Thanks so much. Any tips for how you do a quick conversion in your head? Do some people use calculators? I'm def not
gonna stress about this but sounds fun to try to use $J
Probably the only Jamaican Bills you will encounter while in Negril are: $1000 (called a "G") a $500 (called a "Nanny" after the portrait on the bill) and a $100 (called a "C" or "a bill").Quote:
Originally Posted by Chibears
A quick "rule of thumb" and not exactly accurate is:
+ a $100 is about a $1 US (actually a dollar and a few cents)
+ a $500 is about $6 US
+ a $1000 is about $12 US
When you see a meal at $600 think $6 (for the $500) and $1 (for the $100) and that will get you close to the amount.
Peace and Guidance
It changes depending upon the exchange rate, but for quick frame of reference when spending, I think in multiples of 10... assuming 85J to 1 USD $10us = 850 J ($5=425) $20us = 1700 J $50us = 4,250 J $100us = 8,500 J and so on.
Have Fun!
EDIT NOTE: Actually as I posted this, Accompong came in just ahead with his "rule of thumb" which might be easier. Either way, you get the picture. :)
here's a website which has a "pocket size" conversion table 'cheat sheet' that you can cut out and carry in your wallet or purse...
choose the two currencies you want (JA dollar & US dollar), and click "Get my FX Cheat Sheet", and it will return a nifty little table that you can print and cut out and carry with you.
http://www.oanda.com/currency/travel-exchange-rates
I replied to your PM on this. The above posts are right on.Quote:
Originally Posted by Chibears
I think there also used to be a cheat sheet link here that people would print out and carry - you enter the rate - but I can't find it now.
Maybe someone else has it handy?
HAHAHAHA - the vulcan mindmeld strikes again, Ohio Buckeye!!!!
chibears, i avoid the whole issue by exchanging a lump sum at the cambio, then using only $J for my walking-around money. i never convert in my head, cause i don't care what the US equivalent is. i carry just local currency in my pocket, and use that for everything. for me, using only one currency is so much easier and less cumbersome than thinking about conversion for every little thing i buy during the day; it just doesn't matter to me whether or not i know the juice and coco bread in my hand for 250 $J is the equivalent of 2.85 $US. i have a pocket full of $J and just use it.
it's only for larger expenses, like buying a piece of artwork or a fancy dinner out, that i use the rule of thumb in multiples of 10; so i have some idea of what i'm spending in $US. Once you're there for a few days, it gets easy.
Miss Blue and I - thinking alike again. LOL.
...and this time even posted at the same time, too (you beat me by one minute)
(edited and added) and your advice above is pretty much what I told them in my PM reply, too.
OK MB - I am thinking of a number between 1 and 100, what is it? LOL
Thanks you guys. So the highest exchange rate is the best, as you I'll be getting more $j for your us dollar exchange. So the airport will always be a lesser number than Cambio. So if our airport transit charges $70 us, will he be offended if we give him the Jamaican equivelant for that?
- Yes.Quote:
highest exchange rate is the best, as you I'll be getting more $j for your us dollar
I don't think he would be 'offended', per se, but for your own ease-of-use, those larger expenses like airport transfers and hotel, will be easier for you to do in US, since you will have just arrived and you'll have no way to exchange that much $USD immediately to pay a driver in $J. (the airport cambio gives a bad rate, not good for exchanging large amounts) (and he may prefer the USD anyway - no way to know as that's an individual preference on their part).
plus that comes out to thousands in $J -- for these higher costs, it's just easier to deal with $USD, as it cuts down the confusion when you first arrive - imho of course. once you are using $J walking around for a few days, it will become more familiar to you, and easier to do. now, for your return trip to the airport, once you've become familiar with using local currency, you could always ask him what the charges would be in $J, and it may actually save you a few bucks.
@ ohio buckeye -- 73???? lol. ;)
Agree with MissBlue! I exchange at the cambio in mulitples of $100us. Keeps the math really simple that way. Then use J's on the beach or for local bar drinks. Credit Cards with no foreign transaction fees for larger purchases. I don't try to do conversions when partying and praising jah, too much thinking. I don't track my cash spending on a daily basis since I know how much cash I started with when I leave home and I know how much I have when I return. 15 hours to lift off soooooooooooooooooooooooooooooo excited.