What is the current cambio exchange rate?

[sunray]

Scotiabank Jamaica has posted exchange rates on their website. For Sept. 1 they buy CDN $ at J85.09 and buy US $ at J83.40. The Canadian dollar is higher than US right now, but is not as well known or accepted as US dollars. Whatever you do, STAY AWAY from people on the street offering to exchange money. They hang around the cambios and banks, and many are thieves! Also don't change money at the airport cambio, they really give a low rate compared to the banks.

[captaind]

In my limited experience of 4 trips in the year I find that the ATMs are the best rate and costs.

[Manda81]

I guess because the ATM allows my bank at home to take the current exchange rate as per the universal exchange rate that day?

[Marko]

mi use the ATM's in Negril and get J's so I don't get into that exchange thingy all the time.........
the exchange rates at both Scotia and NCB are excellent on dem ATM debit withdrawals.........
just bring a roll of $1US for tips etc and some small bills and use the ATM's.........
just figure out which ATM debit card you want to use down der as they take all of dem at Scotia and NCB.........
personally I use BofA debit cards at Scotia and get J's and only see a nominal charge on mi bank statements....
plus you don't have to worry about all dat cash you carrying.........and storing in dat safe.......
personally mi think bringing a clump of dollars and/or traveler checks down der is kinda old school..........
mi remember da old days when you had to take a cash advances on your credit cards to get cash.....that did stink

and if you go into HiLo or most stores and hand dem US dollars or Canadian.......
you get a horrible exchange when you buy......
plus the change of course is that horrible exchange rate too.........so don't do it
a smart person will change der money when they enter HiLo at the Cambio der.....and use dat
HiLo has made a small fortune when tourist pay with US or Canadian dollars..........so don't do it

Cool Runnings, Marko

[SLP]

Manda, if you plan on using your ATM or VISA cards in Jamaica but sure to call the numbers on the back of the cards and tell them where you are going and for how long. The cards may be refused if you don't. I bank here with Scotia and always let them know. It has not been a problem. I also take US for the hotel and ride to Negril but use Travellers Cheques in CDN which are easy to exchange at any cambio (faster then the bank). You will need your passport when cashing them as proof of identity.

I prefer using Jamaican dollars and it's easy to get used to them.

[Rambo]

I do know for a fact, with the source I will keep to myself, but American Dollars are worth more... as they are "collected", that is..certain people pay top dollar in Jamaican for US Bills, the bigger the better.....

this money from ALL over is "funneled" toward a single point, which in turn is added to other "collections", and also is bought at top dollar and I assume it all leaves the Island...........

this is all the US cash that is used on the streets daily, and much comes from the sale of "illegal products".....so a dollar US that you spend will touch
many hands before it leaves the Island, not through normal banking facilities...

[Manda81]

why can't I just tip in JA Money ?? This hassle of having 3 different currencies on me is a pain ... Is it insulting to tip in JDM ?

[jon c.]

I've certainly found that tips in either US or JA currency are equally appreciated. I bring a lot of singles and fives so I have them at the ready on arrival, but tip in $JA once I've acquired some.

[kim in socal]

True or False...
I heard from 2 different sources that all the Chinaman store US $ exchanged/received never goes to a JA bank.
We were told that they accumulate it and then take it to China where the US dollar is in high demand.
Maybe just an urban legend but these sources were sure of it and not happy about it...

[Rob]

Kim - something tells me the Chinaman does not tell anyone how he conducts business, so I would rank this as one as an urban legend...