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Thread: Jamaican vs. US currency

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  1. #11
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    Re: Jamaican vs. US currency

    Quote Originally Posted by Hussyband View Post
    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...



    Last edited by ukran1ans; 10-02-2017 at 02:52 PM.
    Go Bills!

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