Current CDN or USD $ exchange rate to JMD - Feb 19-13

Hi Folks,

I just stopped in at the "Interchange Currency Exchange" office located in downtown Toronto to question what the rate would be to exchange money into Jamaican.

At the currency exchange today, it would cost $120 CDN to buy $10,000 JMD. To buy JMD with USD, they convert CDN to USD then into JMD so it would cost $120.24 CDN to buy $120 USD. Basically that means that because our CDN dollar is almost par with USD, there is little to no difference.

Here's where you would see a loss...

If done at the Royal Bank, their current rate is 0.9628 to exchange CDN to USD. The bank rate to convert CDN to JMD is 83.3333 so you would receive the same $10,000 for $120 CDN but only $9,838 for $120 USD as you lose in converting your CDN to USD.

Hope this makes sense and that it helps!

http://www.rbcroyalbank.com/cgi-bin/...y-converter.pl


Rootsie

If someone could post the rate they received recently at the cambio in Negril, that would be a great comparison. Thanks.

This is from last week US 92-1 Can 90-1

First, I would NEVER buy Jamaican dollars here in Canada because the rate is terrible. Second, I take Cdn to Jamaica and exchange it there. Why convert to US and then Jamaican? You will lose out in the transaction.

I realize that...just posting it for those who think they should ;)

I got 93-1to in Ochi on 2-15-13. Cdn was 90-1.

I bought some here in December and got some out of the bank in Negril twice, very little difference in the exchange. At the end of the day maybe a couple of dollars difference.

thanks folks! glad to have the comparison in one spot for everyone to see when trying to decide how best to handle their money woes :)

2 days ago 10,000jmd=105.96 usd

Just got money yesterday...CA was 92 JA...US was 93 and a bit at the cambio near the roundabout.

Is it better to make an exchange, or just use ad during the trip? I know I'm being naive. Does that work?

I withdrew 3000jmd from atm at scotia=30$us i'm seeing dollar for dollar. xe.com 100jmd= 1.08 usd. banks may be the way to go and scotia has partnership with Bank of america, no fees.

I withdrew 3000jmd from atm at scotia=30$us i'm seeing dollar for dollar. xe.com 100jmd= 1.08 usd. banks may be the way to go and scotia has partnership with Bank of america, no fees. just checked 100jmd=1.10can