Jamaican vs. US currency

[ukran1ans]

Typically, I use a mix while we are there. I get Jamaican for some purchases, but pay large purchases in US dollars.

Over the last week, I've seen threads on various FB pages, trip advisor and a carribean travelers forum I frequent where the topic has come up. One issue that I do not understand, and was hoping someone could either refute or explain is "spending US dollars in Jamaica hurts the economy"... and "spending us dolllars in Jamaica will not enter their system"

Both seem counterintuitive to me, but I'm not an economist. I get that buying rooms from a foreign owned entity may not enter the economy directly, but it seems that salaries, and the like would still make it into the system... but I'm more curious about the impact of using US dollars as opposed to strictly Jamaican.

Thoughts?

Well outside of how it effects the local economy, after much thought, I've found that it's most cost effective to just spend US currency because of the 'double whammy' of losing out on the exchange rate when you buy the Jamaican $$$'s and then losing again when you trade back the extra Jamaican $$$'s when you leave. The key is bringing half, if not most of your money in small change ($1's & $5's). Small change is key because when dealing with a small bar/food bill or 'beach vendor' you always take a beating if they owe change (it's very rare they give you US $$$ back in change). Plus, on the occasion you have larger US bills and they give you Jamaican change back, at least the locals are getting the difference and not some 'godless bank'! LOL... Anyways... just my 2 cents...

[Hussyband]

Well outside of how it effects the local economy, after much thought, I've found that it's most cost effective to just spend US currency because of the 'double whammy' of losing out on the exchange rate when you buy the Jamaican $$$'s and then losing again when you trade back the extra Jamaican $$$'s when you leave. The key is bringing half, if not most of your money in small change ($1's & $5's). Small change is key because when dealing with a small bar/food bill or 'beach vendor' you always take a beating if they owe change (it's very rare they give you US $$$ back in change). Plus, on the occasion you have larger US bills and they give you Jamaican change back, at least the locals are getting the difference and not some 'godless bank'! LOL... Anyways... just my 2 cents...

Absolutely no doubt about this.

I have just had enough the last few days of people with zero financial experience stating it "harms" the economy.

You know, there are a lot of people who are chock full of crap on some message boards. They'll say anything and pass it off as fact. I've been twenty times now, and wouldn't dare to consider myself an expert on anything... except possibly the best position to nap in a hammock.

[SLP]

ukran1ans : since I am Canadian I use Jamaican dollars when I am there but I have a question for you. If you return to Jamaica yearly (or more), why bother changing back on your way out. I always carry Jamaican home so that when I return I don't have to head to a cambio or bank for a while.

[ukran1ans]

ukran1ans : since I am Canadian I use Jamaican dollars when I am there but I have a question for you. If you return to Jamaica yearly (or more), why bother changing back on your way out. I always carry Jamaican home so that when I return I don't have to head to a cambio or bank for a while.

That's actually a good point (I guess I was only doing that exchange back the first few times I was here, not knowing I'd fall in luv with the island.. lol). I've been doing the 'US $$$'s only' for a while now so exchanging back hasn't been an issue. The only Jamaican I use now is just the change I get back from the locals when I only have big bills.

Hussyband, here's a good read from economic pros if you're still curious...

https://www.slideshare.net/EmanAbbas...urism-13613739

[Hussyband]

That's actually a good point (I guess I was only doing that exchange back the first few times I was here, not knowing I'd fall in luv with the island.. lol). I've been doing the 'US $$$'s only' for a while now so exchanging back hasn't been an issue. The only Jamaican I use now is just the change I get back from the locals when I only have big bills.

Hussyband, here's a good read from economic pros if you're still curious...

https://www.slideshare.net/EmanAbbas...urism-13613739

That link has EXACTLY what I was looking for.

Thank you.

With what Rob discussed and this link, I don't feel bad about using American dollars now.

[pine tree john]

For those of us that have to try to stretch our vacation dollars ... I find that you have to have both JA and US dollars . I normally use JA's , but some places that price in US , don't give a favorable conversion to JA .

[Weeboy1]

I think of it also as a respect thing.
When in Mexico I use their currency, when in Jamaica likewise.
I think it benefits me and them not having to convert.
I had been told in Mexico it is not always easy or beneficial for vendors, cab drivers etc to convert at the banks.
Not sure if that is in fact true but like I said i think its respectful....when in Rome ....
And...never convert when leaving, you know your going back!!